Atria Wealth Solutions Inc. Grows Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Atria Wealth Solutions Inc. increased its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 22.1% in the 4th quarter, HoldingsChannel reports. The fund owned 3,729 shares of the construction company’s stock after buying an additional 675 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Martin Marietta Materials were worth $1,926,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in Martin Marietta Materials by 23.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock worth $1,441,663,000 after acquiring an additional 506,705 shares in the last quarter. FMR LLC grew its holdings in Martin Marietta Materials by 15.3% during the 3rd quarter. FMR LLC now owns 2,515,441 shares of the construction company’s stock valued at $1,353,936,000 after buying an additional 334,605 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Martin Marietta Materials by 11.7% during the 4th quarter. Principal Financial Group Inc. now owns 1,819,744 shares of the construction company’s stock valued at $939,898,000 after buying an additional 191,043 shares in the last quarter. Franklin Resources Inc. grew its holdings in Martin Marietta Materials by 1.9% during the 3rd quarter. Franklin Resources Inc. now owns 534,801 shares of the construction company’s stock valued at $295,397,000 after buying an additional 9,908 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. grew its holdings in Martin Marietta Materials by 54.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company’s stock valued at $251,784,000 after buying an additional 164,503 shares in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Down 3.2 %

Shares of MLM opened at $489.94 on Friday. The company has a market cap of $29.95 billion, a PE ratio of 15.15, a P/E/G ratio of 4.45 and a beta of 0.91. The business has a fifty day moving average of $530.12 and a 200 day moving average of $547.08. Martin Marietta Materials, Inc. has a 52-week low of $482.72 and a 52-week high of $633.23. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. On average, sell-side analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be given a $0.79 dividend. The ex-dividend date is Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a yield of 0.64%. Martin Marietta Materials’s dividend payout ratio is presently 9.77%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MLM. Hsbc Global Res raised shares of Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Barclays cut their price objective on shares of Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Wolfe Research raised shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price objective for the company in a report on Wednesday, January 8th. HSBC raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price objective for the company in a report on Wednesday, December 11th. Finally, Truist Financial lowered their target price on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Martin Marietta Materials currently has an average rating of “Moderate Buy” and an average target price of $639.43.

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.