Waratah Capital Advisors Ltd. Decreases Stock Holdings in Martin Marietta Materials, Inc. $MLM

Waratah Capital Advisors Ltd. cut its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 12.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,681 shares of the construction company’s stock after selling 5,336 shares during the quarter. Martin Marietta Materials accounts for about 0.4% of Waratah Capital Advisors Ltd.’s investment portfolio, making the stock its 24th largest holding. Waratah Capital Advisors Ltd.’s holdings in Martin Marietta Materials were worth $24,380,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MLM. Atlantic Union Bankshares Corp increased its holdings in Martin Marietta Materials by 321.8% during the third quarter. Atlantic Union Bankshares Corp now owns 3,817 shares of the construction company’s stock valued at $2,406,000 after buying an additional 2,912 shares during the last quarter. Atika Capital Management LLC boosted its stake in shares of Martin Marietta Materials by 30.4% during the 2nd quarter. Atika Capital Management LLC now owns 72,533 shares of the construction company’s stock worth $39,818,000 after acquiring an additional 16,900 shares during the last quarter. National Pension Service grew its position in shares of Martin Marietta Materials by 1.0% during the 3rd quarter. National Pension Service now owns 84,820 shares of the construction company’s stock valued at $53,460,000 after acquiring an additional 843 shares during the period. HB Wealth Management LLC increased its stake in shares of Martin Marietta Materials by 78.5% in the 3rd quarter. HB Wealth Management LLC now owns 8,008 shares of the construction company’s stock worth $5,048,000 after purchasing an additional 3,522 shares in the last quarter. Finally, Fenimore Asset Management Inc raised its holdings in Martin Marietta Materials by 0.9% in the 3rd quarter. Fenimore Asset Management Inc now owns 89,657 shares of the construction company’s stock worth $56,509,000 after purchasing an additional 807 shares during the period. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Up 1.9%

Martin Marietta Materials stock opened at $696.41 on Wednesday. Martin Marietta Materials, Inc. has a 1 year low of $441.95 and a 1 year high of $710.97. The firm’s 50 day moving average price is $653.97 and its 200-day moving average price is $630.41. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.57 and a quick ratio of 2.36. The stock has a market cap of $42.00 billion, a P/E ratio of 37.04, a PEG ratio of 2.64 and a beta of 1.16.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Wednesday, February 11th. The construction company reported $4.62 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($0.19). The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Martin Marietta Materials had a net margin of 17.38% and a return on equity of 10.86%. The business’s revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the business posted $4.79 earnings per share. On average, equities analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 2nd will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, March 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 17.66%.

Analyst Ratings Changes

MLM has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price target on Martin Marietta Materials from $670.00 to $700.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 11th. Jefferies Financial Group increased their target price on shares of Martin Marietta Materials from $755.00 to $761.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Weiss Ratings cut shares of Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. Loop Capital lowered shares of Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 price target for the company. in a research report on Wednesday, January 28th. Finally, Royal Bank Of Canada reduced their price objective on shares of Martin Marietta Materials from $605.00 to $575.00 and set a “sector perform” rating for the company in a research note on Friday, February 13th. Eight analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $690.69.

Martin Marietta Materials Profile

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.