Martin Marietta Materials, Inc. $MLM Shares Sold by Fisher Funds Management LTD

Key Points

• Fisher Funds Management LTD reduced its stake by 15.8% in Martin Marietta, selling 10,861 shares and leaving 57,950 shares valued at about $36.29 million; institutional investors still own roughly 95.04% of the stock.
• In the most recent quarter Martin Marietta missed analysts' estimates with EPS of $4.62 (vs. $4.81) and revenue of $1.53 billion (vs. $1.66 billion), though revenue was up 9.3% year‑over‑year and analysts maintain a consensus "Moderate Buy" with an average price target of $692.06.
• The shares traded near $608.47 (52‑week range $478.86–$710.97) with a market cap of $36.7 billion and a P/E of 32.37; the company pays a quarterly dividend of $0.83 ($3.32 annualized, ~0.5% yield).

Fisher Funds Management LTD reduced its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 15.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,950 shares of the construction company's stock after selling 10,861 shares during the period. Fisher Funds Management LTD owned approximately 0.10% of Martin Marietta Materials worth $36,289,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MLM. Optima Capital LLC acquired a new position in shares of Martin Marietta Materials in the 4th quarter valued at about $25,000. Quent Capital LLC acquired a new position in shares of Martin Marietta Materials in the 3rd quarter valued at about $26,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Martin Marietta Materials in the third quarter worth $27,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Martin Marietta Materials in the third quarter worth $32,000. Finally, Grey Fox Wealth Advisors LLC acquired a new stake in shares of Martin Marietta Materials in the third quarter worth $33,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Down 1.4%

Shares of NYSE:MLM opened at $608.47 on Friday. The company has a quick ratio of 2.36, a current ratio of 3.57 and a debt-to-equity ratio of 0.53. Martin Marietta Materials, Inc. has a 52-week low of $478.86 and a 52-week high of $710.97. The company has a 50 day moving average of $627.53 and a two-hundred day moving average of $629.02. The company has a market capitalization of $36.70 billion, a price-to-earnings ratio of 32.37, a price-to-earnings-growth ratio of 2.42 and a beta of 1.19.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings data on Wednesday, February 11th. The construction company reported $4.62 EPS for the quarter, missing analysts' consensus estimates of $4.81 by ($0.19). Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the prior year, the firm earned $4.79 EPS. The business's quarterly revenue was up 9.3% compared to the same quarter last year. As a group, analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders 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 dividend on an annualized basis and a yield of 0.5%. Martin Marietta Materials's payout ratio is currently 17.66%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MLM shares. Citigroup increased their price objective on shares of Martin Marietta Materials from $780.00 to $804.00 and gave the stock a "buy" rating in a research report on Monday, March 2nd. Barclays dropped their price objective on shares of Martin Marietta Materials from $675.00 to $640.00 and set an "overweight" rating for the company in a research report on Tuesday, March 31st. Royal Bank Of Canada restated a "sector perform" rating and set a $630.00 price objective on shares of Martin Marietta Materials in a research note on Thursday, February 26th. Wells Fargo & Company reduced their price objective on Martin Marietta Materials from $612.00 to $608.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Finally, Truist Financial set a $710.00 price objective on Martin Marietta Materials in a research note on Thursday, February 12th. Nine analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $692.06.

About Martin Marietta Materials

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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