Northwestern Mutual Wealth Management Co. Has $48.44 Million Stock Holdings in Martin Marietta Materials, Inc. $MLM

Key Points

• Northwestern Mutual Wealth Management dramatically increased its stake in Martin Marietta Materials, reporting 77,792 shares worth about $48.4 million after a massive fourth-quarter purchase.
• Martin Marietta Materials recently beat earnings and revenue estimates, posting $1.93 EPS on $1.36 billion in revenue, with revenue up 17.2% from a year earlier.
• The company also announced a quarterly dividend of $0.83 per share, while analysts currently rate the stock a Moderate Buy with an average price target of $689.81.

Northwestern Mutual Wealth Management Co. increased its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 14,332.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 77,792 shares of the construction company's stock after acquiring an additional 77,253 shares during the quarter. Northwestern Mutual Wealth Management Co. owned about 0.13% of Martin Marietta Materials worth $48,438,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Bank of America Corp DE increased its holdings in Martin Marietta Materials by 31.9% in the second quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company's stock valued at $1,284,938,000 after purchasing an additional 565,856 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Martin Marietta Materials by 9.6% in the third quarter. Principal Financial Group Inc. now owns 2,204,425 shares of the construction company's stock valued at $1,389,428,000 after purchasing an additional 192,637 shares during the last quarter. Millennium Management LLC increased its holdings in Martin Marietta Materials by 1,570.3% in the third quarter. Millennium Management LLC now owns 108,167 shares of the construction company's stock valued at $68,175,000 after purchasing an additional 115,524 shares during the last quarter. Freestone Grove Partners LP increased its holdings in Martin Marietta Materials by 748.5% in the third quarter. Freestone Grove Partners LP now owns 124,963 shares of the construction company's stock valued at $78,762,000 after purchasing an additional 110,236 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Martin Marietta Materials by 1.3% in the third quarter. Vanguard Group Inc. now owns 7,442,945 shares of the construction company's stock valued at $4,691,139,000 after purchasing an additional 93,595 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.

Martin Marietta Materials Stock Down 0.5%

MLM stock opened at $555.73 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 2.28 and a debt-to-equity ratio of 0.47. The business has a 50 day moving average price of $598.01 and a two-hundred day moving average price of $625.02. The company has a market cap of $33.37 billion, a price-to-earnings ratio of 13.24, a P/E/G ratio of 2.02 and a beta of 1.13. Martin Marietta Materials, Inc. has a twelve month low of $532.80 and a twelve month high of $710.97.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, beating analysts' consensus estimates of $1.78 by $0.15. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.31 billion. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.The business's revenue was up 17.2% compared to the same quarter last year. During the same period last year, the company earned $1.90 earnings per share. Analysts anticipate that Martin Marietta Materials, Inc. will post 19.32 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, June 1st. Martin Marietta Materials's dividend payout ratio (DPR) is currently 7.91%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Wall Street Zen upgraded Martin Marietta Materials from a "sell" rating to a "hold" rating in a report on Saturday, May 2nd. Citigroup dropped their price objective on Martin Marietta Materials from $804.00 to $731.00 and set a "buy" rating for the company in a report on Monday, May 4th. DA Davidson set a $680.00 price objective on Martin Marietta Materials in a report on Thursday, February 12th. Raymond James Financial set a $690.00 price objective on Martin Marietta Materials in a report on Monday, April 27th. Finally, Weiss Ratings raised Martin Marietta Materials from a "hold (c)" rating to a "buy (b-)" rating in a research report on Friday. Eleven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $689.81.

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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