Prosperity Financial Group Inc. Has $255,000 Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Prosperity Financial Group Inc. lifted its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 9.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 474 shares of the construction company’s stock after buying an additional 39 shares during the period. Prosperity Financial Group Inc.’s holdings in Martin Marietta Materials were worth $255,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of MLM. Newbridge Financial Services Group Inc. grew its position in Martin Marietta Materials by 411.1% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock worth $25,000 after purchasing an additional 37 shares during the last quarter. Asset Dedication LLC lifted its stake in shares of Martin Marietta Materials by 1,300.0% in the third quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock valued at $30,000 after buying an additional 52 shares during the period. First Personal Financial Services acquired a new stake in Martin Marietta Materials during the third quarter worth about $33,000. Fortitude Family Office LLC increased its stake in Martin Marietta Materials by 186.4% during the second quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock valued at $34,000 after acquiring an additional 41 shares during the period. Finally, Pathway Financial Advisers LLC acquired a new position in Martin Marietta Materials in the 1st quarter valued at approximately $41,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

Shares of MLM stock opened at $597.81 on Monday. The stock’s fifty day moving average is $565.21 and its 200-day moving average is $556.45. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34. Martin Marietta Materials, Inc. has a 52 week low of $456.83 and a 52 week high of $633.23. The stock has a market capitalization of $36.54 billion, a PE ratio of 18.63, a PEG ratio of 4.05 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the company earned $6.94 EPS. The firm’s revenue was down 5.3% compared to the same quarter last year. Equities research analysts expect that Martin Marietta Materials, Inc. will post 17.58 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be given a $0.79 dividend. The ex-dividend date is Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a yield of 0.53%. Martin Marietta Materials’s payout ratio is 9.85%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MLM. Morgan Stanley lifted their price objective on Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. StockNews.com raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Thursday. Stephens reduced their price objective on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a report on Friday, August 9th. BNP Paribas upgraded shares of Martin Marietta Materials to a “strong-buy” rating in a research report on Thursday, September 19th. Finally, Jefferies Financial Group dropped their price target on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $634.85.

About Martin Marietta Materials

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.