Camrose Capital Investment Partners LLP Increases Stock Holdings in Martin Marietta Materials, Inc. $MLM

Key Points

• Camrose Capital Investment Partners boosted its Martin Marietta Materials stake by 18.8% in the fourth quarter, bringing its holdings to 113,634 shares worth about $70.8 million.
• Institutional ownership remains extremely high, with 95.04% of Martin Marietta Materials stock held by institutional investors, and several other funds also increased their positions recently.
• The company reported strong quarterly results, beating earnings and revenue estimates, and also announced a quarterly dividend of $0.83 per share, or $3.32 annualized.

Camrose Capital Investment Partners LLP grew its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 18.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 113,634 shares of the construction company's stock after buying an additional 18,015 shares during the period. Martin Marietta Materials accounts for approximately 11.7% of Camrose Capital Investment Partners LLP's portfolio, making the stock its 2nd largest holding. Camrose Capital Investment Partners LLP owned approximately 0.19% of Martin Marietta Materials worth $70,755,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Douglass Winthrop Advisors LLC increased its position in shares of Martin Marietta Materials by 0.8% during the third quarter. Douglass Winthrop Advisors LLC now owns 232,234 shares of the construction company's stock valued at $146,372,000 after buying an additional 1,939 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Martin Marietta Materials by 5.4% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 121,297 shares of the construction company's stock valued at $76,451,000 after buying an additional 6,209 shares during the period. Citigroup Inc. increased its position in shares of Martin Marietta Materials by 33.6% during the third quarter. Citigroup Inc. now owns 125,119 shares of the construction company's stock valued at $78,860,000 after buying an additional 31,463 shares during the period. Gradient Investments LLC increased its position in shares of Martin Marietta Materials by 9.7% during the fourth quarter. Gradient Investments LLC now owns 44,209 shares of the construction company's stock valued at $27,527,000 after buying an additional 3,903 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Martin Marietta Materials by 14,332.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the construction company's stock valued at $48,438,000 after buying an additional 77,253 shares during the period. 95.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MLM shares. Weiss Ratings cut Martin Marietta Materials from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, June 8th. Truist Financial upped their price target on Martin Marietta Materials from $710.00 to $730.00 and gave the company a "buy" rating in a research report on Monday, May 4th. Morgan Stanley decreased their price objective on shares of Martin Marietta Materials from $702.00 to $664.00 and set an "overweight" rating on the stock in a research report on Monday, April 6th. Jefferies Financial Group restated a "buy" rating and issued a $785.00 price objective on shares of Martin Marietta Materials in a research report on Thursday, February 26th. Finally, Wall Street Zen cut shares of Martin Marietta Materials from a "hold" rating to a "sell" rating in a research report on Saturday, June 6th. Ten investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $681.94.

Martin Marietta Materials Stock Up 2.4%

MLM stock opened at $602.95 on Wednesday. The company has a current ratio of 2.28, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. The company's 50 day moving average is $589.40 and its 200 day moving average is $618.63. The stock has a market cap of $36.21 billion, a price-to-earnings ratio of 14.37, a price-to-earnings-growth ratio of 2.50 and a beta of 1.10. Martin Marietta Materials, Inc. has a 1-year low of $525.38 and a 1-year high of $710.97.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.15. The company had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.31 billion. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. Martin Marietta Materials's revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.90 earnings per share. Sell-side analysts predict that Martin Marietta Materials, Inc. will post 19.41 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st will be paid a $0.83 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.32 annualized dividend and a yield of 0.6%. 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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