London Co. of Virginia increased its holdings in Martin Marietta Materials, Inc. (NYSE:MLM – Free Report) by 11.2% during the 1st quarter, Holdings Channel reports. The firm owned 189,623 shares of the construction company’s stock after buying an additional 19,143 shares during the period. London Co. of Virginia’s holdings in Martin Marietta Materials were worth $111,627,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Martin Marietta Materials by 14,332.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the construction company’s stock valued at $48,438,000 after acquiring an additional 77,253 shares in the last quarter. SG Americas Securities LLC lifted its stake in Martin Marietta Materials by 66.7% in the fourth quarter. SG Americas Securities LLC now owns 9,316 shares of the construction company’s stock worth $5,801,000 after acquiring an additional 3,728 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Martin Marietta Materials by 17.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,753 shares of the construction company’s stock valued at $7,318,000 after acquiring an additional 1,778 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Martin Marietta Materials by 4.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 126,524 shares of the construction company’s stock valued at $80,272,000 after acquiring an additional 5,227 shares in the last quarter. Finally, Jennison Associates LLC purchased a new position in Martin Marietta Materials during the 4th quarter valued at $18,636,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have commented on MLM shares. Truist Financial upped their price objective on shares of Martin Marietta Materials from $710.00 to $730.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Royal Bank Of Canada cut their target price on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “sector perform” rating on the stock in a research note on Monday, May 4th. Weiss Ratings upgraded shares of Martin Marietta Materials from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, June 25th. Wells Fargo & Company increased their price target on shares of Martin Marietta Materials from $614.00 to $616.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 8th. Finally, Berenberg Bank set a $556.00 price objective on shares of Martin Marietta Materials and gave the stock a “hold” rating in a report on Tuesday, June 2nd. Eleven equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $681.53.
Martin Marietta Materials Stock Performance
Shares of Martin Marietta Materials stock opened at $560.71 on Friday. Martin Marietta Materials, Inc. has a 12 month low of $525.38 and a 12 month high of $710.97. The firm has a market capitalization of $33.67 billion, a P/E ratio of 13.36, a P/E/G ratio of 2.37 and a beta of 1.10. The company has a current ratio of 2.28, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. The business has a fifty day simple moving average of $575.98 and a two-hundred day simple moving average of $610.19.
Martin Marietta Materials (NYSE:MLM – Get Free Report) last released its earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.31 billion. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The company’s revenue was up 17.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.90 EPS. On average, equities analysts forecast that Martin Marietta Materials, Inc. will post 19.43 earnings per share for the current fiscal year.
Martin Marietta Materials Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 1st were paid a dividend of $0.83 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $3.32 annualized dividend and a yield of 0.6%. Martin Marietta Materials’s payout ratio is presently 7.91%.
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.
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