Marnell Management LLC Acquires New Shares in Martin Marietta Materials, Inc. $MLM

Marnell Management LLC acquired a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,295 shares of the construction company’s stock, valued at approximately $806,000.

A number of other institutional investors have also recently bought and sold shares of MLM. Integrated Wealth Concepts LLC boosted its position in Martin Marietta Materials by 6.6% during the first quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company’s stock valued at $379,000 after purchasing an additional 49 shares during the last quarter. Empowered Funds LLC boosted its position in 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 purchasing an additional 144 shares during the last quarter. Sivia Capital Partners LLC boosted its position in 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 purchasing an additional 51 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position 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 worth $143,000 after buying an additional 175 shares during the last quarter. Finally, Cresset Asset Management LLC lifted its position 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 worth $427,000 after buying an additional 143 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $575.51 on Monday. Martin Marietta Materials, Inc. has a fifty-two week low of $525.38 and a fifty-two week high of $710.97. The business has a 50-day moving average of $589.47 and a two-hundred day moving average of $618.98. The stock has a market capitalization of $34.56 billion, a P/E ratio of 13.72, a P/E/G ratio of 2.45 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 quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.15. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the firm earned $1.90 EPS. The firm’s revenue was up 17.2% compared to the same quarter last year. On average, equities research analysts predict that Martin Marietta Materials, Inc. will post 19.41 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 1st will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, June 1st. Martin Marietta Materials’s payout ratio is currently 7.91%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MLM. Barclays reduced their price target on Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating for the company in a research report on Tuesday, March 31st. Wells Fargo & Company boosted their price target on Martin Marietta Materials from $608.00 to $614.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Weiss Ratings cut Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, June 8th. Morgan Stanley reduced their price target on Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating for the company in a research report on Monday, April 6th. Finally, Berenberg Bank set a $556.00 price target on Martin Marietta Materials and gave the stock a “hold” rating in a research report on Tuesday, June 2nd. Ten research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $681.94.

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.