Border to Coast Pensions Partnership Ltd Sells 25,003 Shares of Martin Marietta Materials, Inc. $MLM

Key Points

• Border to Coast Pensions Partnership reduced its stake in Martin Marietta Materials by 31% in the first quarter, selling 25,003 shares and leaving it with 55,584 shares worth about $32.8 million.
• Martin Marietta Materials reported better-than-expected quarterly results, with EPS of $1.93 versus $1.78 expected and revenue of $1.36 billion, up 17.2% year over year.
• Analyst sentiment remains constructive overall: the stock has a Moderate Buy consensus rating, with 11 Buy ratings and 9 Hold ratings, and an average price target of $681.94.

Border to Coast Pensions Partnership Ltd cut its stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 31.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,584 shares of the construction company's stock after selling 25,003 shares during the quarter. Border to Coast Pensions Partnership Ltd owned 0.09% of Martin Marietta Materials worth $32,821,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Pictet Asset Management Holding SA grew its holdings in Martin Marietta Materials by 4.4% during the first quarter. Pictet Asset Management Holding SA now owns 37,286 shares of the construction company's stock worth $21,950,000 after buying an additional 1,577 shares in the last quarter. GHP Investment Advisors Inc. lifted its stake in Martin Marietta Materials by 7.6% during the 1st quarter. GHP Investment Advisors Inc. now owns 22,643 shares of the construction company's stock valued at $13,330,000 after acquiring an additional 1,604 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in Martin Marietta Materials during the 1st quarter valued at $1,825,000. Kestra Private Wealth Services LLC boosted its holdings in Martin Marietta Materials by 7.1% during the 1st quarter. Kestra Private Wealth Services LLC now owns 1,973 shares of the construction company's stock worth $1,161,000 after acquiring an additional 131 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its holdings in Martin Marietta Materials by 78.3% during the 1st quarter. Ritholtz Wealth Management now owns 1,189 shares of the construction company's stock worth $700,000 after acquiring an additional 522 shares during the last quarter. Institutional investors own 95.04% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MLM. B. Riley Financial upgraded shares of Martin Marietta Materials from a "neutral" rating to a "buy" rating and set a $700.00 target price for the company in a research note on Thursday, April 2nd. Morgan Stanley cut their price target on shares of Martin Marietta Materials from $702.00 to $664.00 and set an "overweight" rating on the stock in a report on Monday, April 6th. Wells Fargo & Company upped their price objective on shares of 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. Zacks Research upgraded shares of Martin Marietta Materials from a "strong sell" rating to a "hold" rating in a research note on Monday, April 13th. Finally, Royal Bank Of Canada decreased their price objective on shares of Martin Marietta Materials from $630.00 to $615.00 and set a "sector perform" rating for the company in a research note on Monday, May 4th. Eleven research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $681.94.

Martin Marietta Materials Trading Down 2.0%

Shares of MLM stock opened at $616.07 on Friday. The company has a 50 day moving average of $587.99 and a 200-day moving average of $618.20. The company has a quick ratio of 1.11, a current ratio of 2.28 and a debt-to-equity ratio of 0.47. Martin Marietta Materials, Inc. has a 12-month low of $525.38 and a 12-month high of $710.97. The firm has a market cap of $36.99 billion, a P/E ratio of 14.68, a PEG ratio of 2.61 and a beta of 1.10.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the business earned $1.90 earnings per share. Martin Marietta Materials's revenue for the quarter was up 17.2% on a year-over-year basis. Sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.41 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, June 1st. Martin Marietta Materials's dividend payout ratio is currently 7.91%.

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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