Corient Private Wealth LP Makes New Investment in Martin Marietta Materials, Inc. $MLM

Corient Private Wealth LP purchased a new position in Martin Marietta Materials, Inc. (NYSE:MLM) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 111,998 shares of the construction company’s stock, valued at approximately $64,589,000. Corient Private Wealth LP owned about 0.19% of Martin Marietta Materials as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Bank of Nova Scotia acquired a new stake in Martin Marietta Materials during the second quarter worth approximately $3,650,000. Northwestern Mutual Wealth Management Co. raised its holdings in Martin Marietta Materials by 14,332.7% in the 4th 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 during the last quarter. Jennison Associates LLC purchased a new position in shares of Martin Marietta Materials during the 4th quarter worth $18,636,000. Victory Capital Management Inc. lifted its stake in shares of Martin Marietta Materials by 51.8% during the 4th quarter. Victory Capital Management Inc. now owns 2,448,928 shares of the construction company’s stock worth $1,524,853,000 after purchasing an additional 836,120 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Martin Marietta Materials by 4.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 126,524 shares of the construction company’s stock worth $80,272,000 after purchasing an additional 5,227 shares during the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MLM has been the topic of a number of research analyst reports. Wells Fargo & Company decreased their price target on 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. UBS Group decreased their target price on shares of Martin Marietta Materials from $739.00 to $715.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Wolfe Research set a $648.00 price target on shares of Martin Marietta Materials in a research report on Tuesday, August 4th. Morgan Stanley cut their price target on shares of Martin Marietta Materials from $664.00 to $639.00 and set an “overweight” rating on the stock in a research note on Thursday, August 13th. Finally, Wall Street Zen lowered shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Tuesday, July 28th. Ten analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $665.29.

Martin Marietta Materials Stock Down 0.7%

Shares of Martin Marietta Materials stock opened at $528.56 on Friday. Martin Marietta Materials, Inc. has a twelve month low of $522.19 and a twelve month high of $710.97. The company has a fifty day moving average price of $564.37 and a 200 day moving average price of $591.62. The company has a current ratio of 1.41, a quick ratio of 0.73 and a debt-to-equity ratio of 0.44. The stock has a market cap of $31.75 billion, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 2.30 and a beta of 1.11.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Thursday, July 30th. The construction company reported $5.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%.The company’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same quarter last year, the firm earned $5.43 earnings per share. Equities research analysts forecast that Martin Marietta Materials, Inc. will post 19.07 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.83. 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%.

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.