Sage Investment Advisers LLC Makes New $2.54 Million Investment in Martin Marietta Materials, Inc. $MLM

Key Points

• Sage Investment Advisers LLC initiated a new position in Martin Marietta Materials, buying 4,085 shares worth about $2.54 million in the fourth quarter. The stake makes MLM about 1.9% of the firm’s portfolio.
• Martin Marietta Materials reported better-than-expected first-quarter earnings, with EPS of $1.93 versus estimates of $1.78 and revenue of $1.36 billion versus $1.31 billion expected. Revenue rose 17.2% year over year.
• The company also announced a quarterly dividend of $0.83 per share, payable June 30, implying an annualized dividend of $3.32 and a yield of about 0.6%. Analysts currently rate the stock a consensus Moderate Buy with a target price of $689.81.

Sage Investment Advisers LLC purchased a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,085 shares of the construction company's stock, valued at approximately $2,544,000. Martin Marietta Materials comprises about 1.9% of Sage Investment Advisers LLC's investment portfolio, making the stock its 17th biggest holding.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MLM. Integrated Wealth Concepts LLC increased its position in shares of Martin Marietta Materials by 6.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company's stock valued at $379,000 after purchasing an additional 49 shares during the last quarter. Empowered Funds LLC increased its position in shares of Martin Marietta Materials by 11.4% during the 1st quarter. Empowered Funds LLC now owns 1,408 shares of the construction company's stock valued at $673,000 after purchasing an additional 144 shares during the last quarter. Sivia Capital Partners LLC increased its position in shares of Martin Marietta Materials by 11.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 510 shares of the construction company's stock valued at $280,000 after purchasing an additional 51 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Martin Marietta Materials by 205.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 260 shares of the construction company's stock valued at $143,000 after purchasing an additional 175 shares during the last quarter. Finally, Cresset Asset Management LLC increased its position in shares of Martin Marietta Materials by 22.6% during the 2nd quarter. Cresset Asset Management LLC now owns 777 shares of the construction company's stock valued at $427,000 after purchasing an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on MLM shares. Oppenheimer assumed coverage on shares of Martin Marietta Materials in a research report on Thursday. They set a "market perform" rating for the company. Wells Fargo & Company increased their target price on shares of Martin Marietta Materials from $608.00 to $614.00 and gave the stock an "equal weight" rating in a report on Friday, May 1st. Barclays reduced their target price on shares of Martin Marietta Materials from $675.00 to $640.00 and set an "overweight" rating for the company in a report on Tuesday, March 31st. Jefferies Financial Group reissued a "buy" rating and issued a $785.00 target price on shares of Martin Marietta Materials in a report on Thursday, February 26th. Finally, Wall Street Zen raised shares of Martin Marietta Materials from a "sell" rating to a "hold" rating in a report on Saturday, May 2nd. Eleven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $689.81.

Martin Marietta Materials Trading Up 0.2%

MLM stock opened at $582.80 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.28 and a quick ratio of 1.11. The company has a market capitalization of $35.00 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 2.47 and a beta of 1.10. Martin Marietta Materials, Inc. has a 1-year low of $525.38 and a 1-year high of $710.97. The business has a 50 day simple moving average of $590.95 and a two-hundred day simple moving average of $621.14.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its 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. 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 company's quarterly revenue was up 17.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.90 EPS. Research analysts anticipate that Martin Marietta Materials, Inc. will post 19.41 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Monday, June 1st. Martin Marietta Materials's dividend payout ratio is currently 7.91%.

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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