B. Riley Wealth Advisors Inc. Reduces Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

B. Riley Wealth Advisors Inc. cut its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 15.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,345 shares of the construction company’s stock after selling 952 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Martin Marietta Materials were worth $2,667,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MLM. Ables Iannone Moore & Associates Inc. bought a new position in shares of Martin Marietta Materials in the 4th quarter worth about $25,000. Vanguard Group Inc. increased its stake in shares of Martin Marietta Materials by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 7,170,166 shares of the construction company’s stock worth $3,577,268,000 after acquiring an additional 69,701 shares in the last quarter. Wahed Invest LLC increased its stake in shares of Martin Marietta Materials by 5.9% in the 4th quarter. Wahed Invest LLC now owns 1,051 shares of the construction company’s stock worth $524,000 after acquiring an additional 59 shares in the last quarter. Willner & Heller LLC bought a new stake in Martin Marietta Materials during the 4th quarter valued at about $375,000. Finally, Congress Asset Management Co. MA lifted its stake in shares of Martin Marietta Materials by 1.2% in the fourth quarter. Congress Asset Management Co. MA now owns 248,983 shares of the construction company’s stock worth $124,220,000 after buying an additional 3,027 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

NYSE:MLM opened at $573.90 on Tuesday. The stock has a 50-day moving average price of $583.85 and a 200 day moving average price of $552.51. The company has a current ratio of 3.16, a quick ratio of 2.41 and a debt-to-equity ratio of 0.44. Martin Marietta Materials, Inc. has a 12-month low of $389.90 and a 12-month high of $626.67. The stock has a market capitalization of $35.38 billion, a P/E ratio of 17.00, a P/E/G ratio of 2.49 and a beta of 0.93.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.05. The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. Martin Marietta Materials’s quarterly revenue was down 7.6% on a year-over-year basis. During the same period last year, the company posted $2.16 earnings per share. Equities research analysts forecast that Martin Marietta Materials, Inc. will post 23.29 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date is Monday, June 3rd. Martin Marietta Materials’s payout ratio is 8.77%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MLM. The Goldman Sachs Group raised their price target on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Truist Financial upped their target price on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. HSBC raised shares of Martin Marietta Materials from a “reduce” rating to a “hold” rating and boosted their price objective for the company from $376.00 to $543.00 in a report on Thursday, February 22nd. Wolfe Research downgraded shares of Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research report on Friday, March 8th. Finally, StockNews.com cut Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $610.27.

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.