6,698 Shares in Martin Marietta Materials, Inc. $MLM Purchased by Perigon Wealth Management LLC

Perigon Wealth Management LLC acquired a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 6,698 shares of the construction company’s stock, valued at approximately $3,863,000.

Several other hedge funds have also recently bought and sold shares of the company. Lido Advisors LLC raised its position in shares of Martin Marietta Materials by 0.8% in the 4th quarter. Lido Advisors LLC now owns 1,920 shares of the construction company’s stock valued at $1,209,000 after buying an additional 15 shares in the last quarter. Ashton Thomas Private Wealth LLC lifted its stake in Martin Marietta Materials by 3.9% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 424 shares of the construction company’s stock worth $264,000 after purchasing an additional 16 shares during the last quarter. Harbour Investments Inc. boosted its holdings in shares of Martin Marietta Materials by 31.4% in the 4th quarter. Harbour Investments Inc. now owns 67 shares of the construction company’s stock valued at $42,000 after purchasing an additional 16 shares in the last quarter. AMG National Trust Bank boosted its holdings in shares of Martin Marietta Materials by 3.6% in the 1st quarter. AMG National Trust Bank now owns 495 shares of the construction company’s stock valued at $291,000 after purchasing an additional 17 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its stake in shares of Martin Marietta Materials by 0.8% in the 4th quarter. Quadrant Capital Group LLC now owns 2,186 shares of the construction company’s stock valued at $1,361,000 after purchasing an additional 17 shares during the last quarter. 95.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Weiss Ratings raised Martin Marietta Materials from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, June 25th. Raymond James Financial set a $660.00 price objective on shares of Martin Marietta Materials in a research note on Friday, July 31st. Oppenheimer began coverage on shares of Martin Marietta Materials in a research report on Thursday, May 28th. They issued a “market perform” rating on the stock. Wells Fargo & Company decreased their target price on shares of Martin Marietta Materials from $616.00 to $581.00 and set an “equal weight” rating on the stock in a research note on Friday, July 31st. Finally, Royal Bank Of Canada dropped their price target on Martin Marietta Materials from $615.00 to $610.00 and set a “sector perform” rating for the company in a research note on Monday, August 3rd. Eleven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, Martin Marietta Materials has a consensus rating of “Moderate Buy” and an average target price of $668.53.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock opened at $539.42 on Tuesday. The stock has a market cap of $32.40 billion, a price-to-earnings ratio of 13.25, a P/E/G ratio of 2.37 and a beta of 1.11. Martin Marietta Materials, Inc. has a twelve month low of $523.48 and a twelve month high of $710.97. The company’s fifty day moving average is $572.58 and its 200 day moving average is $599.05. The company has a quick ratio of 0.73, a current ratio of 1.41 and a debt-to-equity ratio of 0.44.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Thursday, July 30th. The construction company reported $5.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.76 by $0.24. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.87 billion. Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%.Martin Marietta Materials’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same period last year, the company earned $5.43 EPS. Sell-side analysts forecast that Martin Marietta Materials, Inc. will post 19.07 EPS for the current year.

Martin Marietta Materials Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st will be given a $0.84 dividend. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.83. The ex-dividend date is Tuesday, September 1st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.6%. Martin Marietta Materials’s dividend payout ratio is presently 8.16%.

About Martin Marietta Materials

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value?added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready?mixed concrete and related materials and services.