Martin Marietta Materials, Inc. $MLM is Robbins Farley's 5th Largest Position

Key Points

• Robbins Farley increased its Martin Marietta Materials stake by 20.9% in the second quarter to 12,348 shares valued at approximately $7.1 million, making MLM its fifth-largest holding. Institutional investors collectively own 95.04% of the stock.
• Analyst sentiment remains generally positive, with 11 Buy ratings, eight Holds and one Sell; the stock has a “Moderate Buy” consensus and an average price target of $665.88.
• Martin Marietta exceeded quarterly expectations, reporting $5.00 in adjusted EPS and $1.95 billion in revenue, up 21% year over year. The company also raised its quarterly dividend to $0.84 per share, equivalent to a 0.6% annual yield.

Robbins Farley boosted its stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 20.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,348 shares of the construction company's stock after acquiring an additional 2,131 shares during the period. Martin Marietta Materials accounts for about 2.7% of Robbins Farley's holdings, making the stock its 5th biggest position. Robbins Farley's holdings in Martin Marietta Materials were worth $7,121,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bornite Capital Management LP bought a new position in shares of Martin Marietta Materials during the 2nd quarter valued at approximately $37,601,000. Independence Bank of Kentucky raised its holdings in shares of Martin Marietta Materials by 44.1% in the 2nd quarter. Independence Bank of Kentucky now owns 1,262 shares of the construction company's stock worth $728,000 after purchasing an additional 386 shares during the period. Proficio Capital Partners LLC lifted its stake in Martin Marietta Materials by 20.4% in the second quarter. Proficio Capital Partners LLC now owns 1,874 shares of the construction company's stock valued at $1,081,000 after purchasing an additional 318 shares during the last quarter. Teza Capital Management LLC purchased a new position in Martin Marietta Materials in the second quarter valued at approximately $269,000. Finally, Montanova Capital LLC bought a new position in Martin Marietta Materials during the second quarter valued at $14,994,000. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. UBS Group dropped their price target on Martin Marietta Materials from $739.00 to $715.00 and set a "buy" rating on the stock in a research report on Monday, August 3rd. Wall Street Zen lowered Martin Marietta Materials from a "hold" rating to a "sell" rating in a report on Tuesday, July 28th. Stephens lowered their price objective on Martin Marietta Materials from $700.00 to $680.00 and set an "overweight" rating on the stock in a research note on Friday, July 31st. DA Davidson started coverage on shares of Martin Marietta Materials in a report on Monday, August 24th. They set a "neutral" rating and a $625.00 price objective on the stock. Finally, JPMorgan Chase & Co. upgraded shares of Martin Marietta Materials from a "neutral" rating to an "overweight" rating and set a $680.00 target price for the company in a research note on Wednesday. Eleven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $665.88.

Martin Marietta Materials Stock Up 2.6%

MLM stock opened at $517.82 on Thursday. The stock has a 50-day simple moving average of $556.99 and a two-hundred day simple moving average of $587.01. Martin Marietta Materials, Inc. has a twelve month low of $502.56 and a twelve month high of $710.97. The firm has a market capitalization of $31.11 billion, a PE ratio of 12.72, a PEG ratio of 2.18 and a beta of 1.10. The company has a quick ratio of 0.73, a current ratio of 1.41 and a debt-to-equity ratio of 0.44.

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

Martin Marietta Materials Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from Martin Marietta Materials's previous quarterly dividend of $0.83. Martin Marietta Materials's payout ratio is 8.26%.

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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