Icon Wealth Advisors LLC Acquires 2,149 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Icon Wealth Advisors LLC grew its stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 503.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,576 shares of the construction company's stock after purchasing an additional 2,149 shares during the period. Icon Wealth Advisors LLC's holdings in Martin Marietta Materials were worth $1,387,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of MLM. Newbridge Financial Services Group Inc. grew its position in Martin Marietta Materials by 411.1% in the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company's stock valued at $25,000 after acquiring an additional 37 shares during the period. Asset Dedication LLC grew its holdings in shares of Martin Marietta Materials by 1,300.0% in the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company's stock worth $30,000 after purchasing an additional 52 shares during the last quarter. First Personal Financial Services acquired a new stake in shares of Martin Marietta Materials during the 3rd quarter worth about $33,000. Fortitude Family Office LLC increased its position in shares of Martin Marietta Materials by 186.4% during the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company's stock worth $34,000 after purchasing an additional 41 shares in the last quarter. Finally, Pathway Financial Advisers LLC bought a new position in Martin Marietta Materials during the 1st quarter valued at about $41,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Up 1.2 %

MLM stock traded up $7.21 during mid-day trading on Friday, hitting $597.81. 448,569 shares of the company were exchanged, compared to its average volume of 495,829. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34. Martin Marietta Materials, Inc. has a 1-year low of $456.83 and a 1-year high of $633.23. The firm's 50 day simple moving average is $565.21 and its 200 day simple moving average is $556.75. The firm has a market cap of $36.54 billion, a P/E ratio of 18.63, a P/E/G ratio of 3.95 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing the consensus estimate of $6.41 by ($0.50). Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the business earned $6.94 earnings per share. Martin Marietta Materials's revenue was down 5.3% compared to the same quarter last year. On average, sell-side analysts predict that Martin Marietta Materials, Inc. will post 17.84 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date is Monday, December 2nd. Martin Marietta Materials's dividend payout ratio is currently 9.85%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on MLM shares. StockNews.com raised shares of Martin Marietta Materials from a "sell" rating to a "hold" rating in a report on Thursday. BNP Paribas raised Martin Marietta Materials to a "strong-buy" rating in a report on Thursday, September 19th. Truist Financial reduced their price objective on Martin Marietta Materials from $700.00 to $670.00 and set a "buy" rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. decreased their target price on Martin Marietta Materials from $560.00 to $515.00 and set a "neutral" rating on the stock in a report on Wednesday, October 9th. Finally, Stephens cut their price target on Martin Marietta Materials from $650.00 to $610.00 and set an "overweight" rating for the company in a report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $634.85.

Martin Marietta Materials Profile

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.