Assetmark Inc. Raises Stock Holdings in Martin Marietta Materials, Inc. $MLM

Key Points

• Assetmark Inc. increased its stake in Martin Marietta by 5.9% to 29,486 shares, valued at about $18.36 million after buying 1,645 shares in Q4.
• Martin Marietta missed quarterly estimates with EPS of $4.62 versus $4.81 expected and revenue of $1.53 billion (vs. $1.66B expected), although revenue was up 9.3% year‑over‑year.
• Analysts give a consensus rating of Moderate Buy with an average price target of $692.06; the stock has a market cap of $37.23 billion, a P/E of 32.83, and a 0.5% dividend yield.

Assetmark Inc. boosted its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 5.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,486 shares of the construction company's stock after purchasing an additional 1,645 shares during the quarter. Assetmark Inc.'s holdings in Martin Marietta Materials were worth $18,360,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Schear Investment Advisers LLC lifted its position in shares of Martin Marietta Materials by 0.6% in the third quarter. Schear Investment Advisers LLC now owns 2,731 shares of the construction company's stock valued at $1,721,000 after acquiring an additional 16 shares in the last quarter. Daymark Wealth Partners LLC lifted its position in shares of Martin Marietta Materials by 3.9% in the third quarter. Daymark Wealth Partners LLC now owns 448 shares of the construction company's stock valued at $283,000 after acquiring an additional 17 shares in the last quarter. Ritholtz Wealth Management lifted its position in shares of Martin Marietta Materials by 2.9% in the third quarter. Ritholtz Wealth Management now owns 646 shares of the construction company's stock valued at $407,000 after acquiring an additional 18 shares in the last quarter. Fiduciary Alliance LLC lifted its position in shares of Martin Marietta Materials by 2.6% in the fourth quarter. Fiduciary Alliance LLC now owns 702 shares of the construction company's stock valued at $437,000 after acquiring an additional 18 shares in the last quarter. Finally, Vise Technologies Inc. lifted its position in shares of Martin Marietta Materials by 2.5% in the third quarter. Vise Technologies Inc. now owns 731 shares of the construction company's stock valued at $461,000 after acquiring an additional 18 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Price Performance

MLM stock opened at $617.24 on Thursday. The business has a fifty day moving average of $628.77 and a two-hundred day moving average of $629.16. The company has a quick ratio of 2.36, a current ratio of 3.57 and a debt-to-equity ratio of 0.53. The stock has a market cap of $37.23 billion, a price-to-earnings ratio of 32.83, a price-to-earnings-growth ratio of 2.47 and a beta of 1.19. Martin Marietta Materials, Inc. has a 52-week low of $478.86 and a 52-week high of $710.97.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its earnings results on Wednesday, February 11th. The construction company reported $4.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($0.19). The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.66 billion. Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.Martin Marietta Materials's revenue was up 9.3% compared to the same quarter last year. During the same period last year, the business earned $4.79 EPS. As a group, research analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 2nd were paid a dividend of $0.83 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $3.32 annualized dividend and a yield of 0.5%. Martin Marietta Materials's dividend payout ratio (DPR) is 17.66%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MLM shares. Zacks Research upgraded Martin Marietta Materials from a "strong sell" rating to a "hold" rating in a research report on Monday. DA Davidson set a $680.00 target price on Martin Marietta Materials in a research report on Thursday, February 12th. Citigroup raised their target price on Martin Marietta Materials from $780.00 to $804.00 and gave the company a "buy" rating in a research report on Monday, March 2nd. Loop Capital downgraded Martin Marietta Materials from a "buy" rating to a "hold" rating and set a $690.00 target price on the stock. in a research report on Wednesday, January 28th. Finally, Stephens decreased their target price on Martin Marietta Materials from $740.00 to $735.00 and set an "overweight" rating on the stock in a research report on Friday, February 13th. Nine analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, Martin Marietta Materials presently has a consensus rating of "Moderate Buy" and an average price target of $692.06.

About Martin Marietta Materials

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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