Alpha Omega Wealth Management LLC Cuts Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Alpha Omega Wealth Management LLC lessened its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 1.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,345 shares of the construction company’s stock after selling 71 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Martin Marietta Materials were worth $3,282,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in MLM. Atwater Malick LLC acquired a new stake in Martin Marietta Materials in the 1st quarter valued at about $236,000. Cypress Wealth Services LLC acquired a new stake in Martin Marietta Materials in the 1st quarter valued at about $244,000. Dohj LLC acquired a new stake in Martin Marietta Materials in the 1st quarter valued at about $933,000. 180 Wealth Advisors LLC acquired a new stake in Martin Marietta Materials in the 1st quarter valued at about $670,000. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Martin Marietta Materials by 18.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,722 shares of the construction company’s stock valued at $3,513,000 after acquiring an additional 881 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

MLM opened at $541.80 on Friday. Martin Marietta Materials, Inc. has a 1 year low of $389.90 and a 1 year high of $626.67. The company’s 50 day simple moving average is $574.19 and its 200 day simple moving average is $556.72. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.41 and a current ratio of 3.16. The stock has a market capitalization of $33.40 billion, a PE ratio of 16.05, a P/E/G ratio of 2.40 and a beta of 0.93.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.88 by $0.05. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the firm posted $2.16 earnings per share. Martin Marietta Materials’s revenue for the quarter was down 7.6% compared to the same quarter last year. As a group, sell-side analysts expect that Martin Marietta Materials, Inc. will post 23.1 EPS for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 3rd were issued a $0.74 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $2.96 annualized dividend and a yield of 0.55%. Martin Marietta Materials’s payout ratio is 8.77%.

Wall Street Analyst Weigh In

MLM has been the topic of several analyst reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $600.00 price target (up from $530.00) on shares of Martin Marietta Materials in a research note on Friday, March 22nd. The Goldman Sachs Group raised their price target on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Wolfe Research cut shares of Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research note on Friday, March 8th. Truist Financial raised their price target on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Finally, StockNews.com cut shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Martin Marietta Materials currently has an average rating of “Moderate Buy” and a consensus target price 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.