Martin Marietta Materials, Inc. $MLM Shares Acquired by Turtle Creek Wealth Advisors LLC

Key Points

• Turtle Creek Wealth Advisors LLC boosted its stake in Martin Marietta by 15.5% to 12,943 shares (about $8.06M), and institutional investors/hedge funds collectively own roughly 95.04% of the stock.
• Martin Marietta's latest quarter missed expectations—EPS $4.62 vs. $4.81 consensus and revenue $1.53B vs. $1.66B—although revenue was up 9.3% year-over-year; the company pays a quarterly dividend of $0.83 ($3.32 annual, ~0.5% yield).
• Analyst sentiment is mixed but tilted positive with a consensus of Moderate Buy and an average target price of $692.06, alongside recent price targets ranging from $640 to $785 and several rating changes.

Turtle Creek Wealth Advisors LLC lifted its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 15.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,943 shares of the construction company's stock after purchasing an additional 1,740 shares during the quarter. Turtle Creek Wealth Advisors LLC's holdings in Martin Marietta Materials were worth $8,059,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Optima Capital LLC acquired a new stake in Martin Marietta Materials in the 4th quarter valued at about $25,000. Quent Capital LLC acquired a new stake in Martin Marietta Materials in the 3rd quarter valued at about $26,000. KERR FINANCIAL PLANNING Corp acquired a new stake in Martin Marietta Materials in the 3rd quarter valued at about $27,000. Redmont Wealth Advisors LLC acquired a new stake in Martin Marietta Materials in the 3rd quarter valued at about $32,000. Finally, Grey Fox Wealth Advisors LLC acquired a new stake in Martin Marietta Materials in the 3rd quarter valued at about $33,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Trading Up 1.3%

Shares of MLM stock opened at $618.64 on Friday. Martin Marietta Materials, Inc. has a 1-year low of $490.31 and a 1-year high of $710.97. The firm's 50-day simple moving average is $621.11 and its 200-day simple moving average is $628.76. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.57 and a quick ratio of 2.36. The firm has a market cap of $37.28 billion, a P/E ratio of 32.91, a PEG ratio of 2.20 and a beta of 1.19.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings results on Wednesday, February 11th. The construction company reported $4.62 EPS for the quarter, missing the consensus estimate of $4.81 by ($0.19). Martin Marietta Materials had a net margin of 17.38% and a return on equity of 10.86%. The business had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.66 billion. During the same quarter in the previous year, the business posted $4.79 EPS. The company's quarterly revenue was up 9.3% on a year-over-year basis. As a group, equities analysts forecast that Martin Marietta Materials, Inc. will post 19.85 EPS for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 2nd were issued a $0.83 dividend. The ex-dividend date was Monday, March 2nd. This represents a $3.32 annualized dividend and a yield of 0.5%. Martin Marietta Materials's dividend payout ratio (DPR) is presently 17.66%.

Analyst Ratings Changes

A number of equities research analysts recently commented on MLM shares. Jefferies Financial Group reissued a "buy" rating and issued a $785.00 price objective on shares of Martin Marietta Materials in a research note on Thursday, February 26th. DA Davidson set a $680.00 target price on shares of Martin Marietta Materials in a report on Thursday, February 12th. Weiss Ratings lowered shares of Martin Marietta Materials from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, February 23rd. Truist Financial set a $710.00 target price on shares of Martin Marietta Materials in a report on Thursday, February 12th. Finally, Barclays reduced their target price on shares of Martin Marietta Materials from $675.00 to $640.00 and set an "overweight" rating on the stock in a report on Tuesday, March 31st. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $692.06.

Martin Marietta Materials Company 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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