Apollon Wealth Management LLC Has $1.37 Million Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Apollon Wealth Management LLC cut its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 0.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,548 shares of the construction company’s stock after selling 21 shares during the period. Apollon Wealth Management LLC’s holdings in Martin Marietta Materials were worth $1,372,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Peak Financial Advisors LLC acquired a new position in shares of Martin Marietta Materials during the 2nd quarter worth about $2,710,000. M&G Plc bought a new stake in shares of Martin Marietta Materials during the 1st quarter worth about $41,142,000. O Shaughnessy Asset Management LLC boosted its holdings in shares of Martin Marietta Materials by 35.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,843 shares of the construction company’s stock worth $2,359,000 after buying an additional 1,003 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Martin Marietta Materials by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 465,703 shares of the construction company’s stock worth $252,318,000 after buying an additional 11,749 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of Martin Marietta Materials by 27.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,278 shares of the construction company’s stock worth $3,943,000 after buying an additional 1,549 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MLM. Loop Capital lifted their target price on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. UBS Group began coverage on shares of Martin Marietta Materials in a report on Thursday, November 7th. They set a “buy” rating and a $730.00 target price for the company. Jefferies Financial Group cut their price objective on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Citigroup cut their price objective on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a report on Monday, August 12th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Martin Marietta Materials presently has an average rating of “Moderate Buy” and a consensus price target of $634.85.

Martin Marietta Materials Price Performance

Shares of MLM stock opened at $587.96 on Friday. The business has a fifty day simple moving average of $554.32 and a 200 day simple moving average of $556.80. The company has a market cap of $35.93 billion, a P/E ratio of 18.32, a P/E/G ratio of 4.05 and a beta of 0.90. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. Martin Marietta Materials, Inc. has a twelve month low of $451.37 and a twelve month high of $633.23.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the company posted $6.94 EPS. The firm’s revenue was down 5.3% compared to the same quarter last year. On average, sell-side analysts forecast that Martin Marietta Materials, Inc. will post 17.84 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be given a $0.79 dividend. The ex-dividend date is Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a yield of 0.54%. Martin Marietta Materials’s dividend payout ratio is currently 9.85%.

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.