Jupiter Topco LLC Takes Position in Martin Marietta Materials, Inc. $MLM

Key Points

• Jupiter Topco LLC acquired 56,106 shares of Martin Marietta Materials during the second quarter, worth approximately $32.4 million and representing about 0.09% of the company. Institutional investors collectively own 95.04% of MLM.
• Martin Marietta exceeded quarterly expectations, reporting $5.00 in EPS and $1.95 billion in revenue, with revenue up 21% year over year. Analysts expect full-year EPS of $19.07.
• The company raised its quarterly dividend to $0.84 per share, or $3.36 annually, while analysts maintain a “Moderate Buy” consensus with an average price target of $665.88.

Jupiter Topco LLC bought a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 56,106 shares of the construction company's stock, valued at approximately $32,356,000. Jupiter Topco LLC owned about 0.09% of Martin Marietta Materials as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Lido Advisors LLC grew its stake in Martin Marietta Materials by 0.8% during the 4th quarter. Lido Advisors LLC now owns 1,920 shares of the construction company's stock valued at $1,209,000 after purchasing an additional 15 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its position in shares of Martin Marietta Materials by 3.9% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 424 shares of the construction company's stock valued at $264,000 after purchasing an additional 16 shares in the last quarter. Harbour Investments Inc. raised its position in shares of Martin Marietta Materials by 31.4% in the 4th quarter. Harbour Investments Inc. now owns 67 shares of the construction company's stock valued at $42,000 after purchasing an additional 16 shares in the last quarter. AMG National Trust Bank boosted its stake in shares of Martin Marietta Materials by 3.6% during the 1st quarter. AMG National Trust Bank now owns 495 shares of the construction company's stock valued at $291,000 after buying an additional 17 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in shares of Martin Marietta Materials by 0.8% during the 4th quarter. Quadrant Capital Group LLC now owns 2,186 shares of the construction company's stock valued at $1,361,000 after buying an additional 17 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.

Martin Marietta Materials Price Performance

Shares of NYSE MLM opened at $531.11 on Friday. Martin Marietta Materials, Inc. has a twelve month low of $522.19 and a twelve month high of $710.97. The company has a current ratio of 1.41, a quick ratio of 0.73 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $31.90 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 2.28 and a beta of 1.11. The business has a 50 day simple moving average of $562.81 and a 200-day simple moving average of $591.20.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The construction company reported $5.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.76 by $0.24. The firm had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.87 billion. Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%.The firm's revenue for the quarter was up 21.0% on a year-over-year basis. During the same period last year, the business posted $5.43 earnings per share. As a group, equities research analysts expect that Martin Marietta Materials, Inc. will post 19.07 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend 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 currently 8.16%.

Analyst Ratings Changes

A number of analysts recently issued reports on MLM shares. Oppenheimer started coverage on shares of Martin Marietta Materials in a research note on Thursday, May 28th. They issued a "market perform" rating for the company. DA Davidson began coverage on shares of Martin Marietta Materials in a research note on Monday. They set a "neutral" rating and a $625.00 price objective on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Martin Marietta Materials from $700.00 to $680.00 and set a "neutral" rating for the company in a report on Friday, July 31st. Weiss Ratings downgraded shares of Martin Marietta Materials from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, August 17th. Finally, Citigroup cut their target price on shares of Martin Marietta Materials from $737.00 to $690.00 and set a "buy" rating on the stock in a research note on Monday, August 3rd. Ten equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $665.88.

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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