SVB Wealth LLC Invests $1.26 Million in Martin Marietta Materials, Inc. (NYSE:MLM)

SVB Wealth LLC bought a new position in Martin Marietta Materials, Inc. (NYSE:MLM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,446 shares of the construction company’s stock, valued at approximately $1,263,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MLM. Proficio Capital Partners LLC lifted its holdings in shares of Martin Marietta Materials by 54,277.3% in the fourth quarter. Proficio Capital Partners LLC now owns 918,432 shares of the construction company’s stock worth $474,370,000 after acquiring an additional 916,743 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Martin Marietta Materials by 76.2% in the third quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock worth $876,648,000 after acquiring an additional 704,460 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Martin Marietta Materials by 23.3% in the third 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 during the last quarter. FMR LLC lifted its holdings in shares of Martin Marietta Materials by 15.3% in the third quarter. FMR LLC now owns 2,515,441 shares of the construction company’s stock worth $1,353,936,000 after acquiring an additional 334,605 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in Martin Marietta Materials by 7,608.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 181,373 shares of the construction company’s stock valued at $97,624,000 after buying an additional 179,020 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on MLM. UBS Group began coverage on shares of Martin Marietta Materials in a report on Thursday, November 7th. They issued a “buy” rating and a $730.00 price objective for the company. StockNews.com lowered shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Thursday, February 20th. HSBC upgraded 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. Stephens dropped their price objective on shares of Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Finally, Morgan Stanley dropped their price objective on shares of Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $639.43.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $483.06 on Monday. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. The stock’s fifty day simple moving average is $525.13 and its two-hundred day simple moving average is $545.50. Martin Marietta Materials, Inc. has a 1-year low of $475.10 and a 1-year high of $633.23. The stock has a market cap of $29.45 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 4.45 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, beating the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. As a group, analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Monday, March 3rd. Martin Marietta Materials’s payout ratio is 9.77%.

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.