M.D. Sass LLC acquired a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 107,511 shares of the construction company's stock, valued at approximately $62,002,000. Martin Marietta Materials comprises 4.1% of M.D. Sass LLC's holdings, making the stock its 13th largest holding. M.D. Sass LLC owned 0.18% of Martin Marietta Materials as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its stake in Martin Marietta Materials by 14,332.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the construction company's stock valued at $48,438,000 after buying an additional 77,253 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Martin Marietta Materials by 17.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,753 shares of the construction company's stock worth $7,318,000 after acquiring an additional 1,778 shares during the last quarter. Jennison Associates LLC bought a new stake in Martin Marietta Materials in the 4th quarter worth approximately $18,636,000. Victory Capital Management Inc. raised its holdings in shares of Martin Marietta Materials by 51.8% during the 4th quarter. Victory Capital Management Inc. now owns 2,448,928 shares of the construction company's stock worth $1,524,853,000 after acquiring an additional 836,120 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Martin Marietta Materials by 4.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 126,524 shares of the construction company's stock worth $80,272,000 after acquiring an additional 5,227 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the company. Morgan Stanley lowered their target price on Martin Marietta Materials from $664.00 to $639.00 and set an "overweight" rating for the company in a research report on Thursday, August 13th. Wolfe Research set a $648.00 price target on shares of Martin Marietta Materials in a research report on Tuesday, August 4th. JPMorgan Chase & Co. decreased their price target on shares of Martin Marietta Materials from $700.00 to $680.00 and set a "neutral" rating on the stock in a research note on Friday, July 31st. Berenberg Bank set a $556.00 price objective on shares of Martin Marietta Materials and gave the company a "hold" rating in a research report on Tuesday, June 2nd. Finally, Truist Financial lifted their price objective on shares of Martin Marietta Materials from $710.00 to $730.00 and gave the stock a "buy" rating in a research note on Monday, May 4th. Ten research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $668.53.
Check Out Our Latest Report on MLM
Martin Marietta Materials Price Performance
Shares of Martin Marietta Materials stock opened at $524.52 on Wednesday. The stock has a market cap of $31.51 billion, a price-to-earnings ratio of 12.89, a price-to-earnings-growth ratio of 2.37 and a beta of 1.11. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.73 and a current ratio of 1.41. The stock has a 50 day moving average price of $571.62 and a 200-day moving average price of $598.17. Martin Marietta Materials, Inc. has a one year low of $522.19 and a one year high of $710.97.
Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its earnings results on Thursday, July 30th. The construction company reported $5.00 earnings per share for the quarter, beating the consensus estimate of $4.76 by $0.24. Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%.The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the company posted $5.43 EPS. The company's revenue for the quarter was up 21.0% compared to the same quarter last year. Equities analysts expect that Martin Marietta Materials, Inc. will post 19.07 EPS for the current year.
Martin Marietta Materials Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.6%. This is a positive change from Martin Marietta Materials's previous quarterly dividend of $0.83. The ex-dividend date is Tuesday, September 1st. Martin Marietta Materials's dividend payout ratio (DPR) is presently 8.16%.
Martin Marietta Materials Profile
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Free Report)
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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