Quantum Capital Management LLC NJ Takes Position in Martin Marietta Materials, Inc. $MLM

Key Points

• Quantum Capital Management LLC NJ opened a new position in Martin Marietta Materials, buying 90,394 shares worth about $53.2 million. The stake now represents roughly 6.8% of the fund’s portfolio.
• Institutional ownership remains very high, with hedge funds and other large investors holding about 95.04% of the company’s shares. Several firms also recently added to or initiated positions in MLM.
• Martin Marietta Materials reported better-than-expected quarterly earnings on April 30, with EPS of $1.93 versus estimates of $1.78 and revenue up 17.2% year over year. Analysts currently view the stock as a Moderate Buy with a consensus price target of $681.53.

Quantum Capital Management LLC NJ purchased a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 90,394 shares of the construction company's stock, valued at approximately $53,213,000. Martin Marietta Materials accounts for about 6.8% of Quantum Capital Management LLC NJ's portfolio, making the stock its 6th largest position. Quantum Capital Management LLC NJ owned approximately 0.15% of Martin Marietta Materials as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Optima Capital LLC bought a new position in Martin Marietta Materials in the fourth quarter valued at approximately $25,000. Meeder Asset Management Inc. lifted its stake in Martin Marietta Materials by 67.9% during the first quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company's stock worth $28,000 after purchasing an additional 19 shares during the last quarter. Garton & Associates Financial Advisors LLC bought a new stake in Martin Marietta Materials during the fourth quarter worth $31,000. Reflection Asset Management bought a new stake in Martin Marietta Materials during the fourth quarter worth $35,000. Finally, Osterweis Capital Management Inc. acquired a new stake in shares of Martin Marietta Materials in the 2nd quarter valued at $37,000. Institutional investors and hedge funds own 95.04% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MLM. Berenberg Bank set a $556.00 price target on Martin Marietta Materials and gave the company a "hold" rating in a research note on Tuesday, June 2nd. Raymond James Financial dropped their price objective on Martin Marietta Materials from $690.00 to $675.00 and set an "outperform" rating for the company in a research report on Wednesday, July 15th. Wells Fargo & Company raised their price objective on Martin Marietta Materials from $614.00 to $616.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 8th. Citigroup lifted their target price on Martin Marietta Materials from $731.00 to $737.00 and gave the company a "buy" rating in a research report on Wednesday, July 8th. Finally, Zacks Research raised Martin Marietta Materials from a "strong sell" rating to a "hold" rating in a research note on Monday, April 13th. Eleven investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Martin Marietta Materials currently has an average rating of "Moderate Buy" and a consensus target price of $681.53.

Martin Marietta Materials Stock Performance

NYSE MLM opened at $551.30 on Thursday. The firm's fifty day moving average price is $576.52 and its two-hundred day moving average price is $611.15. The stock has a market cap of $33.11 billion, a PE ratio of 13.14, a PEG ratio of 2.32 and a beta of 1.10. Martin Marietta Materials, Inc. has a fifty-two week low of $525.38 and a fifty-two week high of $710.97. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.11 and a current ratio of 2.28.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The construction company reported $1.93 EPS for the quarter, beating analysts' consensus estimates of $1.78 by $0.15. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.The company had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.31 billion. During the same period in the prior year, the company earned $1.90 EPS. Martin Marietta Materials's revenue was up 17.2% compared to the same quarter last year. On average, equities analysts expect that Martin Marietta Materials, Inc. will post 19.43 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st were issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Monday, June 1st. Martin Marietta Materials's dividend payout ratio is presently 7.91%.

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.

Want to see what other hedge funds are holding MLM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Martin Marietta Materials, Inc. (NYSE:MLM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.