6,116 Shares in Martin Marietta Materials, Inc. $MLM Acquired by OP Asset Management Ltd

OP Asset Management Ltd acquired a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 6,116 shares of the construction company’s stock, valued at approximately $3,600,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Integrated Wealth Concepts LLC lifted its holdings in shares of Martin Marietta Materials by 6.6% in the 1st quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company’s stock worth $379,000 after buying an additional 49 shares during the period. Empowered Funds LLC increased its stake in shares of Martin Marietta Materials by 11.4% during the first quarter. Empowered Funds LLC now owns 1,408 shares of the construction company’s stock valued at $673,000 after buying an additional 144 shares during the period. Sivia Capital Partners LLC increased its stake in shares of Martin Marietta Materials by 11.1% during the second quarter. Sivia Capital Partners LLC now owns 510 shares of the construction company’s stock valued at $280,000 after buying an additional 51 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Martin Marietta Materials by 205.9% in the second quarter. EverSource Wealth Advisors LLC now owns 260 shares of the construction company’s stock valued at $143,000 after acquiring an additional 175 shares in the last quarter. Finally, Cresset Asset Management LLC raised its holdings in shares of Martin Marietta Materials by 22.6% in the second quarter. Cresset Asset Management LLC now owns 777 shares of the construction company’s stock valued at $427,000 after acquiring an additional 143 shares in the last quarter. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Trading Down 2.0%

Shares of NYSE MLM opened at $616.07 on Friday. Martin Marietta Materials, Inc. has a 1-year low of $525.38 and a 1-year high of $710.97. The business has a fifty day moving average price of $587.99 and a 200 day moving average price of $618.20. The stock has a market capitalization of $36.99 billion, a P/E ratio of 14.68, a price-to-earnings-growth ratio of 2.67 and a beta of 1.10. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.28 and a quick ratio of 1.11.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.15. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.31 billion. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.The firm’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.90 earnings per share. Equities research analysts expect that Martin Marietta Materials, Inc. will post 19.41 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st will be given a $0.83 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. Martin Marietta Materials’s payout ratio is presently 7.91%.

Analysts Set New Price Targets

A number of analysts recently weighed in on MLM shares. Morgan Stanley lowered their price objective on shares of Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating for the company in a research note on Monday, April 6th. Zacks Research raised shares of Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. UBS Group set a $739.00 price target on shares of Martin Marietta Materials in a report on Sunday, May 10th. Royal Bank Of Canada lowered their price target on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “sector perform” rating for the company in a research report on Monday, May 4th. Finally, Truist Financial increased their price objective on shares of Martin Marietta Materials from $710.00 to $730.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Eleven equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $681.94.

Martin Marietta Materials Company 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.