Martin Marietta Materials, Inc. (NYSE:MLM) Shares Purchased by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC lifted its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 1.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,995 shares of the construction company’s stock after purchasing an additional 436 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Martin Marietta Materials were worth $13,863,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MLM. Proficio Capital Partners LLC boosted its position in shares of Martin Marietta Materials by 54,277.3% in the 4th quarter. Proficio Capital Partners LLC now owns 918,432 shares of the construction company’s stock valued at $474,370,000 after purchasing an additional 916,743 shares during the period. GAMMA Investing LLC lifted its position in Martin Marietta Materials by 58,570.5% during the 1st quarter. GAMMA Investing LLC now owns 697,592 shares of the construction company’s stock worth $333,540,000 after acquiring an additional 696,403 shares during the period. Norges Bank acquired a new stake in Martin Marietta Materials during the 4th quarter worth approximately $306,863,000. Raymond James Financial Inc. acquired a new stake in Martin Marietta Materials during the 4th quarter worth approximately $196,374,000. Finally, Alkeon Capital Management LLC lifted its position in Martin Marietta Materials by 46.6% during the 4th quarter. Alkeon Capital Management LLC now owns 771,198 shares of the construction company’s stock worth $398,324,000 after acquiring an additional 245,000 shares during the period. 95.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on MLM shares. Wall Street Zen cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Saturday, May 31st. Truist Financial decreased their price objective on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Barclays cut their target price on Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Stifel Nicolaus increased their target price on Martin Marietta Materials from $559.00 to $609.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Finally, Morgan Stanley increased their target price on Martin Marietta Materials from $561.00 to $576.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Martin Marietta Materials has an average rating of “Moderate Buy” and an average price target of $610.69.

Martin Marietta Materials Stock Performance

NYSE MLM opened at $553.02 on Friday. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $633.23. The company has a market capitalization of $33.34 billion, a P/E ratio of 17.11, a PEG ratio of 4.45 and a beta of 0.89. The business has a 50 day moving average price of $526.00 and a 200 day moving average price of $523.59. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Wednesday, April 30th. The construction company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.02. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the business posted $1.93 EPS. Martin Marietta Materials’s quarterly revenue was up 8.2% on a year-over-year basis. Sell-side analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 0.57%. The ex-dividend date is Monday, June 2nd. Martin Marietta Materials’s payout ratio is currently 18.20%.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.