Findlay Park Partners LLP Acquires New Holdings in Martin Marietta Materials, Inc. $MLM

Key Points

• Findlay Park Partners initiated a position of 207,262 Martin Marietta Materials shares valued at approximately $119.5 million, representing about 0.35% of the company. Institutional investors collectively own 95.04% of MLM.
• Martin Marietta exceeded quarterly expectations, reporting $5.00 in EPS versus the $4.76 consensus and $1.95 billion in revenue, up 21% year over year. The company also raised its quarterly dividend to $0.84 per share, for a 0.6% annualized yield.
• MLM shares opened at $535.28, well below their 52-week high of $710.97. Analysts maintain a “Moderate Buy” consensus with an average price target of $668.53, despite several recent target reductions.

Findlay Park Partners LLP bought a new position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 207,262 shares of the construction company's stock, valued at approximately $119,528,000. Findlay Park Partners LLP owned about 0.35% of Martin Marietta Materials at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Meeder Asset Management Inc. lifted its holdings in shares of 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 period. CoreCap Advisors LLC grew 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 period. Garton & Associates Financial Advisors LLC bought a new stake in shares of Martin Marietta Materials in the fourth quarter worth $31,000. Reflection Asset Management purchased a new stake in Martin Marietta Materials during the fourth quarter valued at $35,000. Finally, Quarry LP purchased a new stake in Martin Marietta Materials during the third quarter valued at $38,000. Institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Price Performance

NYSE MLM opened at $535.28 on Friday. The company has a market capitalization of $32.15 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 2.31 and a beta of 1.11. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.73 and a current ratio of 1.41. The business's fifty day moving average is $569.66 and its 200 day moving average is $596.04. Martin Marietta Materials, Inc. has a fifty-two week low of $522.19 and a fifty-two week high of $710.97.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The construction company reported $5.00 EPS for the quarter, topping analysts' consensus estimates of $4.76 by $0.24. Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%.The business had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.87 billion. During the same quarter in the prior year, the business posted $5.43 earnings per share. The business's quarterly revenue was up 21.0% on a year-over-year basis. Sell-side analysts predict 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 disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st will be paid a dividend of $0.84 per share. This is a boost from Martin Marietta Materials's previous quarterly dividend of $0.83. The ex-dividend date is Tuesday, September 1st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.6%. Martin Marietta Materials's dividend payout ratio is presently 8.16%.

Analyst Upgrades and Downgrades

MLM has been the topic of several research reports. Wall Street Zen cut Martin Marietta Materials from a "hold" rating to a "sell" rating in a research report on Tuesday, July 28th. Stephens reduced their price target on shares of Martin Marietta Materials from $700.00 to $680.00 and set an "overweight" rating for the company in a research report on Friday, July 31st. Wolfe Research set a $648.00 price objective on shares of Martin Marietta Materials in a research note on Tuesday, August 4th. Morgan Stanley dropped their price objective on shares of Martin Marietta Materials from $664.00 to $639.00 and set an "overweight" rating on the stock in a report on Thursday, August 13th. Finally, Citigroup cut their target price on shares of Martin Marietta Materials from $737.00 to $690.00 and set a "buy" rating for the company in a research report on Monday, August 3rd. Ten equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Martin Marietta Materials presently 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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