Elevation Point Wealth Partners LLC Has $2.87 Million Stock Position in Martin Marietta Materials, Inc. $MLM

Elevation Point Wealth Partners LLC raised its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 219.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,870 shares of the construction company’s stock after purchasing an additional 3,344 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Martin Marietta Materials were worth $2,867,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Optima Capital LLC acquired a new stake in shares of Martin Marietta Materials during the 4th quarter valued at about $25,000. KERR FINANCIAL PLANNING Corp acquired a new position in Martin Marietta Materials in the third quarter worth approximately $27,000. Garton & Associates Financial Advisors LLC acquired a new position in Martin Marietta Materials in the fourth quarter worth approximately $31,000. Reflection Asset Management bought a new position in Martin Marietta Materials during the fourth quarter valued at approximately $35,000. Finally, Union Bancaire Privee UBP SA bought a new position in Martin Marietta Materials during the fourth quarter valued at approximately $36,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Raymond James Financial reissued an “outperform” rating on shares of Martin Marietta Materials in a research report on Monday, June 29th. Citigroup cut their price target on shares of Martin Marietta Materials from $804.00 to $731.00 and set a “buy” rating on the stock in a report on Monday, May 4th. Morgan Stanley reduced their price objective on shares of Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating for the company in a research note on Monday, April 6th. B. Riley Financial raised shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 target price on the stock in a research report on Thursday, April 2nd. Finally, UBS Group set a $739.00 target price on shares of Martin Marietta Materials in a research report on Sunday, May 10th. Eleven research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $681.94.

Martin Marietta Materials Stock Performance

NYSE:MLM opened at $599.97 on Friday. The firm has a market capitalization of $36.03 billion, a PE ratio of 14.30, a PEG ratio of 2.55 and a beta of 1.10. Martin Marietta Materials, Inc. has a 1 year low of $525.38 and a 1 year high of $710.97. The company has a current ratio of 2.28, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. The firm’s fifty day simple moving average is $584.98 and its 200 day simple moving average is $616.91.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the business earned $1.90 EPS. The business’s revenue was up 17.2% on a year-over-year basis. On average, sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.38 EPS for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 1st were given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, June 1st. Martin Marietta Materials’s payout ratio is currently 7.91%.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.