Bridger Management LLC Takes $6.38 Million Position in Martin Marietta Materials, Inc. $MLM

Bridger Management LLC acquired a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 11,055 shares of the construction company's stock, valued at approximately $6,375,000. Martin Marietta Materials makes up approximately 4.2% of Bridger Management LLC's investment portfolio, making the stock its 9th largest position.

Several other institutional investors have also recently modified their holdings of the stock. Meeder Asset Management Inc. grew its holdings in Martin Marietta Materials by 67.9% during the 1st quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company's stock valued at $28,000 after buying an additional 19 shares during the last quarter. CoreCap Advisors LLC raised its holdings in shares of Martin Marietta Materials by 370.0% in the second quarter. CoreCap Advisors LLC now owns 47 shares of the construction company's stock worth $27,000 after acquiring an additional 37 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in shares of Martin Marietta Materials in the fourth quarter worth $31,000. Reflection Asset Management purchased a new stake in shares of Martin Marietta Materials in the fourth quarter valued at $35,000. Finally, Quarry LP acquired a new stake in shares of Martin Marietta Materials during the third quarter valued at $38,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MLM. Raymond James Financial set a $660.00 target price on shares of Martin Marietta Materials in a research note on Friday, July 31st. Weiss Ratings cut shares of Martin Marietta Materials from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, August 17th. Wall Street Zen downgraded shares of Martin Marietta Materials from a "hold" rating to a "sell" rating in a report on Tuesday, July 28th. Royal Bank Of Canada boosted their price objective on shares of Martin Marietta Materials from $610.00 to $620.00 and gave the company a "sector perform" rating in a research report on Friday. Finally, Berenberg Bank set a $556.00 price objective on shares of Martin Marietta Materials and gave the company a "hold" rating in a research note on Tuesday, June 2nd. Ten research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $665.88.

Martin Marietta Materials Trading Up 0.5%

NYSE:MLM opened at $531.11 on Friday. The business's 50-day moving average is $562.81 and its two-hundred day moving average is $591.20. The firm has a market capitalization of $31.90 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 2.28 and a beta of 1.11. Martin Marietta Materials, Inc. has a 12 month low of $522.19 and a 12 month high of $710.97. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.41 and a quick ratio of 0.73.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its 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. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%.The company's revenue was up 21.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.43 earnings per share. Research analysts predict that Martin Marietta Materials, Inc. will post 19.07 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The company also recently disclosed 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 annualized dividend and a yield of 0.6%. This is a positive change from Martin Marietta Materials's previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Tuesday, September 1st. Martin Marietta Materials's dividend payout ratio is 8.16%.

Martin Marietta Materials Company 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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