5,892 Shares in Martin Marietta Materials, Inc. $MLM Acquired by B & T Capital Management DBA Alpha Capital Management

Key Points

• B & T Capital Management acquired 5,892 shares of Martin Marietta Materials in the second quarter, valued at approximately $3.4 million. Institutional investors collectively own 95.04% of MLM.
• Martin Marietta reported quarterly revenue of $1.95 billion, up 21% year over year, and earnings of $5.00 per share, exceeding analysts’ expectations of $4.76.
• The company raised its quarterly dividend to $0.84 per share, equal to an annualized dividend of $3.36 and a 0.6% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $668.53.

B & T Capital Management DBA Alpha Capital Management acquired a new stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 5,892 shares of the construction company's stock, valued at approximately $3,398,000.

Several other institutional investors have also added to or reduced their stakes in MLM. Integrated Wealth Concepts LLC increased its holdings in 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 in the last quarter. Empowered Funds LLC raised its position in Martin Marietta Materials by 11.4% in the 1st quarter. Empowered Funds LLC now owns 1,408 shares of the construction company's stock worth $673,000 after buying an additional 144 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in Martin Marietta Materials by 11.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 510 shares of the construction company's stock valued at $280,000 after acquiring an additional 51 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Martin Marietta Materials by 205.9% during the 2nd 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 during the period. Finally, Cresset Asset Management LLC boosted its holdings in shares of Martin Marietta Materials by 22.6% during the 2nd 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 during the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Down 1.6%

Shares of MLM stock opened at $539.42 on Tuesday. The company has a current ratio of 1.41, a quick ratio of 0.73 and a debt-to-equity ratio of 0.44. Martin Marietta Materials, Inc. has a 12 month low of $523.48 and a 12 month high of $710.97. The stock has a market cap of $32.40 billion, a P/E ratio of 13.25, a P/E/G ratio of 2.37 and a beta of 1.11. The company has a 50 day simple moving average of $572.58 and a two-hundred day simple moving average of $599.05.

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 the consensus estimate 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 business had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.87 billion. During the same quarter last year, the company posted $5.43 EPS. The company's revenue was up 21.0% compared to the same quarter last year. On average, research analysts expect that Martin Marietta Materials, Inc. will post 19.07 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st will be issued a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.36 dividend on an annualized basis and a yield of 0.6%. This is an increase from Martin Marietta Materials's previous quarterly dividend of $0.83. Martin Marietta Materials's payout ratio is 8.16%.

Analyst Ratings Changes

MLM has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Martin Marietta Materials from $700.00 to $680.00 and set a "neutral" rating for the company in a research note on Friday, July 31st. UBS Group dropped 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 report on Monday, August 3rd. Weiss Ratings raised shares of Martin Marietta Materials from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, June 25th. Wolfe Research set a $648.00 price target on Martin Marietta Materials in a report on Tuesday, August 4th. Finally, Citigroup dropped their price target on Martin Marietta Materials from $737.00 to $690.00 and set a "buy" rating on the stock in a research note on Monday, August 3rd. Eleven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $668.53.

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.

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