SeaCrest Wealth Management LLC Has $382,000 Position in Martin Marietta Materials, Inc. (NYSE:MLM)

SeaCrest Wealth Management LLC trimmed its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 18.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 622 shares of the construction company’s stock after selling 140 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Martin Marietta Materials were worth $382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Ables Iannone Moore & Associates Inc. acquired a new position in Martin Marietta Materials in the fourth quarter valued at approximately $25,000. Pinnacle Bancorp Inc. bought a new stake in shares of Martin Marietta Materials in the 4th quarter valued at $26,000. Riverview Trust Co acquired a new position in shares of Martin Marietta Materials during the 1st quarter valued at $26,000. Exchange Traded Concepts LLC bought a new position in Martin Marietta Materials during the fourth quarter worth $27,000. Finally, Benjamin Edwards Inc. grew its holdings in Martin Marietta Materials by 78.8% in the fourth quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock worth $29,000 after purchasing an additional 26 shares during the period. Institutional investors own 95.04% of the company’s stock.

Analyst Upgrades and Downgrades

MLM has been the topic of a number of research analyst reports. Wolfe Research cut shares of Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research report on Friday, March 8th. Stifel Nicolaus cut their price target on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. restated a “neutral” rating and set a $600.00 price objective (up previously from $530.00) on shares of Martin Marietta Materials in a report on Friday, March 22nd. Truist Financial increased their target price on Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Finally, Loop Capital decreased their price target on shares of Martin Marietta Materials from $710.00 to $630.00 and set a “buy” rating for the company in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Martin Marietta Materials has an average rating of “Moderate Buy” and a consensus price target of $610.25.

Martin Marietta Materials Stock Down 0.3 %

MLM opened at $533.27 on Thursday. Martin Marietta Materials, Inc. has a fifty-two week low of $389.90 and a fifty-two week high of $626.67. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.16 and a quick ratio of 2.41. The company’s 50-day moving average is $570.77 and its 200 day moving average is $557.62. The firm has a market capitalization of $32.87 billion, a P/E ratio of 15.80, a PEG ratio of 2.37 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Tuesday, April 30th. The construction company reported $1.93 EPS for the quarter, topping 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 analysts’ expectations of $1.31 billion. During the same quarter last year, the firm earned $2.16 EPS. The company’s quarterly revenue was down 7.6% compared to the same quarter last year. Research analysts expect that Martin Marietta Materials, Inc. will post 23.1 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 3rd were given a $0.74 dividend. The ex-dividend date was Monday, June 3rd. This represents a $2.96 annualized dividend and a yield of 0.56%. Martin Marietta Materials’s dividend payout ratio is currently 8.77%.

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.