7,001 Shares in Martin Marietta Materials, Inc. (NYSE:MLM) Bought by SOA Wealth Advisors LLC.

SOA Wealth Advisors LLC. bought a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 7,001 shares of the construction company’s stock, valued at approximately $3,347,000.

Other large investors have also bought and sold shares of the company. Lee Danner & Bass Inc. acquired a new stake in Martin Marietta Materials in the fourth quarter worth $28,000. Whipplewood Advisors LLC acquired a new stake in Martin Marietta Materials in the fourth quarter worth $32,000. Kestra Investment Management LLC acquired a new stake in Martin Marietta Materials in the fourth quarter worth $35,000. Hopwood Financial Services Inc. acquired a new stake in Martin Marietta Materials in the fourth quarter worth $36,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Martin Marietta Materials by 91.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company’s stock worth $37,000 after purchasing an additional 34 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Up 0.2%

MLM opened at $551.29 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. The company’s 50-day moving average is $521.85 and its 200 day moving average is $524.42. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $633.23. The firm has a market capitalization of $33.23 billion, a P/E ratio of 17.05, a PEG ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Wednesday, April 30th. The construction company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.02. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period last year, the firm earned $1.93 earnings per share. The firm’s revenue was up 8.2% on a year-over-year basis. Research analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Monday, June 2nd. Martin Marietta Materials’s payout ratio is currently 18.20%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Stephens reduced their price target 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. Loop Capital reduced their price objective on shares of Martin Marietta Materials from $645.00 to $615.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. Seaport Res Ptn upgraded shares of Martin Marietta Materials to a “strong-buy” rating in a report on Friday, March 21st. Truist Financial reduced their price objective on shares of Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, UBS Group upgraded shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $548.00 to $634.00 in a report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Martin Marietta Materials has a consensus rating of “Moderate Buy” and an average target price of $610.69.

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.