King Luther Capital Management Corp Has $429.72 Million Stake in Martin Marietta Materials, Inc. $MLM

Key Points

• King Luther Capital Management increased its stake in Martin Marietta Materials by 0.7% in the fourth quarter, ending with 690,128 shares valued at about $429.7 million. The position represents 1.7% of the firm’s holdings and its 11th-largest position.
• Martin Marietta Materials recently reported better-than-expected quarterly results, with EPS of $1.93 versus estimates of $1.78 and revenue of $1.36 billion versus expectations of $1.31 billion. Revenue rose 17.2% year over year.
• Analysts remain cautiously positive overall, with 11 Buy ratings and 7 Hold ratings and a consensus rating of Moderate Buy. The average price target stands at $689.81, though Loop Capital recently downgraded the stock to Hold.

King Luther Capital Management Corp grew its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 690,128 shares of the construction company's stock after buying an additional 5,025 shares during the period. Martin Marietta Materials makes up 1.7% of King Luther Capital Management Corp's holdings, making the stock its 11th biggest position. King Luther Capital Management Corp owned 1.14% of Martin Marietta Materials worth $429,715,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in MLM. Cary Street Partners Investment Advisory LLC lifted its stake in Martin Marietta Materials by 26.2% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 289 shares of the construction company's stock worth $180,000 after purchasing an additional 60 shares during the last quarter. Harbour Investments Inc. lifted 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 worth $42,000 after purchasing an additional 16 shares during the period. Allstate Corp boosted its stake in shares of Martin Marietta Materials by 91.2% in the 4th quarter. Allstate Corp now owns 4,614 shares of the construction company's stock valued at $2,873,000 after purchasing an additional 2,201 shares during the last quarter. CYBER HORNET ETFs LLC lifted its holdings in Martin Marietta Materials by 29.8% in the fourth quarter. CYBER HORNET ETFs LLC now owns 222 shares of the construction company's stock valued at $138,000 after buying an additional 51 shares during the period. Finally, Clearstead Advisors LLC boosted its holdings in shares of Martin Marietta Materials by 4.7% during the 4th quarter. Clearstead Advisors LLC now owns 4,086 shares of the construction company's stock worth $2,544,000 after buying an additional 182 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Loop Capital cut shares of Martin Marietta Materials from a "buy" rating to a "hold" rating and set a $690.00 price objective on the stock. in a research report on Wednesday, January 28th. DA Davidson set a $680.00 price target on Martin Marietta Materials in a report on Thursday, February 12th. Jefferies Financial Group reissued a "buy" rating and set a $785.00 target price on shares of Martin Marietta Materials in a research report on Thursday, February 26th. Truist Financial boosted their price objective on Martin Marietta Materials from $710.00 to $730.00 and gave the company a "buy" rating in a research note on Monday, May 4th. Finally, Raymond James Financial set a $690.00 target price on shares of Martin Marietta Materials in a report on Monday, April 27th. Eleven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $689.81.

Martin Marietta Materials Trading Up 4.6%

NYSE MLM opened at $561.20 on Wednesday. The firm has a market cap of $33.70 billion, a PE ratio of 13.37, a price-to-earnings-growth ratio of 1.94 and a beta of 1.13. Martin Marietta Materials, Inc. has a 1-year low of $525.38 and a 1-year high of $710.97. 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 stock has a 50-day moving average of $591.02 and a 200-day moving average of $621.86.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.15. The firm 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%. The business's revenue was up 17.2% on a year-over-year basis. During the same quarter last year, the business earned $1.90 earnings per share. As a group, sell-side analysts forecast that Martin Marietta Materials, Inc. will post 19.32 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st will be given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Monday, June 1st. Martin Marietta Materials's dividend payout ratio (DPR) 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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