FFT Wealth Management LLC Lowers Position in Martin Marietta Materials, Inc. (NYSE:MLM)

FFT Wealth Management LLC decreased its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 10.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,214 shares of the construction company’s stock after selling 148 shares during the quarter. FFT Wealth Management LLC’s holdings in Martin Marietta Materials were worth $658,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MLM. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Martin Marietta Materials during the fourth quarter valued at about $25,000. Riverview Trust Co bought a new position in Martin Marietta Materials during the first quarter valued at approximately $26,000. Benjamin Edwards Inc. boosted its stake in Martin Marietta Materials by 78.8% during the fourth quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock valued at $29,000 after buying an additional 26 shares during the last quarter. Redmont Wealth Advisors LLC bought a new stake in Martin Marietta Materials in the 1st quarter worth approximately $31,000. Finally, Fortitude Family Office LLC increased its stake in Martin Marietta Materials by 186.4% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock worth $34,000 after acquiring an additional 41 shares during the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Price Performance

Shares of MLM stock opened at $534.16 on Monday. The company has a market capitalization of $32.65 billion, a P/E ratio of 15.83, a P/E/G ratio of 3.57 and a beta of 0.91. The company’s 50-day simple moving average is $545.93 and its two-hundred day simple moving average is $571.02. Martin Marietta Materials, Inc. has a one year low of $389.90 and a one year high of $626.67. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.86 and a quick ratio of 0.94.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Thursday, August 8th. The construction company reported $4.76 EPS for the quarter, missing the consensus estimate of $5.36 by ($0.60). Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter in the previous year, the business earned $5.60 earnings per share. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. As a group, equities analysts anticipate that Martin Marietta Materials, Inc. will post 20.01 EPS for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.59%. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Tuesday, September 3rd. Martin Marietta Materials’s dividend payout ratio is presently 8.77%.

Analyst Ratings Changes

MLM has been the subject of a number of recent research reports. Truist Financial cut their target price on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a report on Friday, August 9th. Stifel Nicolaus reduced their target price on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. StockNews.com cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Thursday. Stephens decreased their price objective on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Finally, Loop Capital cut their target price on Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $629.82.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.