123,546 Shares in Martin Marietta Materials, Inc. $MLM Acquired by Junto Capital Management LP

Key Points

• Junto Capital Management acquired 123,546 shares of Martin Marietta Materials worth approximately $71.2 million, making the stock 1.3% of its portfolio. Institutional investors collectively own 95.04% of the company.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $667.53, despite mixed individual rating changes.
• Martin Marietta exceeded quarterly earnings and revenue expectations, while revenue rose 21% year over year. The company also increased its quarterly dividend to $0.84 per share, or $3.36 annually.

Junto Capital Management LP acquired a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 123,546 shares of the construction company's stock, valued at approximately $71,249,000. Martin Marietta Materials accounts for about 1.3% of Junto Capital Management LP's investment portfolio, making the stock its 29th biggest holding. Junto Capital Management LP owned approximately 0.21% of Martin Marietta Materials at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. CoreCap Advisors LLC lifted its stake in Martin Marietta Materials by 370.0% in the second quarter. CoreCap Advisors LLC now owns 47 shares of the construction company's stock valued at $27,000 after buying an additional 37 shares during the last quarter. Meeder Asset Management Inc. grew its position in shares of Martin Marietta Materials by 67.9% during the first quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company's stock worth $28,000 after acquiring an additional 19 shares during the last quarter. Garton & Associates Financial Advisors LLC bought a new position in shares of Martin Marietta Materials during the fourth quarter worth about $31,000. Reflection Asset Management bought a new position in shares of Martin Marietta Materials during the fourth quarter worth about $35,000. Finally, Osterweis Capital Management Inc. acquired a new stake in shares of Martin Marietta Materials in the 2nd quarter worth about $37,000. 95.04% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Weiss Ratings lowered shares of Martin Marietta Materials from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, September 3rd. Morgan Stanley cut their price target on Martin Marietta Materials from $664.00 to $639.00 and set an "overweight" rating on the stock in a report on Thursday, August 13th. Wells Fargo & Company raised Martin Marietta Materials from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $581.00 to $609.00 in a report on Wednesday. Wall Street Zen lowered Martin Marietta Materials from a "hold" rating to a "sell" rating in a report on Tuesday, July 28th. Finally, JPMorgan Chase & Co. upgraded Martin Marietta Materials from a "neutral" rating to an "overweight" rating and set a $680.00 target price on the stock in a research report on Wednesday, September 2nd. Twelve research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Martin Marietta Materials has an average rating of "Moderate Buy" and an average price target of $667.53.

Martin Marietta Materials Stock Down 1.7%

Martin Marietta Materials stock opened at $503.20 on Thursday. The stock has a market cap of $30.23 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 2.21 and a beta of 1.10. 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 company's 50-day moving average price is $548.59 and its two-hundred day moving average price is $581.36. Martin Marietta Materials, Inc. has a 52 week low of $502.36 and a 52 week high of $710.97.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The construction company reported $5.00 earnings per share for the quarter, topping analysts' consensus estimates of $4.76 by $0.24. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period in the prior year, the business posted $5.43 EPS. The business's revenue for the quarter was up 21.0% compared to the same quarter last year. On average, analysts expect that Martin Marietta Materials, Inc. will post 19.07 EPS 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. Shareholders of record on Tuesday, September 1st will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.7%. This is a positive change from Martin Marietta Materials's previous quarterly dividend of $0.83. The ex-dividend date is Tuesday, September 1st. Martin Marietta Materials's payout ratio is currently 8.26%.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc is a U.S.-based supplier of construction aggregates and other building materials. The company produces crushed stone, sand and gravel used in infrastructure, commercial, residential and industrial construction projects.

Its products and services also include cement, ready-mixed concrete, asphalt and paving materials. Martin Marietta serves customers involved in roads, bridges, airports, buildings and other essential infrastructure, with operations concentrated across several regions of the United States.

The company was established in 1993 as an independent, publicly traded materials business formed from the construction materials operations of Martin Marietta Corporation.

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