Sanctuary Advisors LLC Acquires Shares of 5,818 Martin Marietta Materials, Inc. $MLM

Sanctuary Advisors LLC acquired a new position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,818 shares of the construction company's stock, valued at approximately $3,355,000.

Several other hedge funds have also modified their holdings of MLM. BlackRock Inc. acquired a new position in Martin Marietta Materials in the 2nd quarter worth about $2,706,134,000. Victory Capital Management Inc. grew its holdings in Martin Marietta Materials by 51.8% in the fourth quarter. Victory Capital Management Inc. now owns 2,448,928 shares of the construction company's stock valued at $1,524,853,000 after purchasing an additional 836,120 shares during the period. Bank of America Corp DE increased its position in shares of Martin Marietta Materials by 0.9% in the first quarter. Bank of America Corp DE now owns 2,399,779 shares of the construction company's stock valued at $1,412,702,000 after buying an additional 21,310 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Martin Marietta Materials by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 1,553,364 shares of the construction company's stock worth $963,406,000 after buying an additional 10,743 shares during the period. Finally, Morgan Stanley raised its stake in shares of Martin Marietta Materials by 5.3% during the 4th quarter. Morgan Stanley now owns 1,367,016 shares of the construction company's stock worth $851,188,000 after buying an additional 68,382 shares during the period. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Price Performance

Shares of NYSE MLM opened at $532.58 on Wednesday. The firm has a 50-day simple moving average of $567.14 and a 200-day simple moving average of $593.72. The company has a quick ratio of 0.73, a current ratio of 1.41 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $31.99 billion, a price-to-earnings ratio of 13.09, a price-to-earnings-growth ratio of 2.30 and a beta of 1.11. Martin Marietta Materials, Inc. has a 52 week low of $522.19 and a 52 week high of $710.97.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The construction company reported $5.00 earnings per share for the quarter, topping analysts' consensus estimates of $4.76 by $0.24. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. Martin Marietta Materials's quarterly revenue was up 21.0% on a year-over-year basis. During the same period in the previous year, the business posted $5.43 earnings per share. On average, equities analysts predict that Martin Marietta Materials, Inc. will post 19.07 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.84 per share. The ex-dividend date is Tuesday, September 1st. This represents a $3.36 annualized dividend and a dividend yield of 0.6%. This is an increase from Martin Marietta Materials's previous quarterly dividend of $0.83. Martin Marietta Materials's payout ratio is presently 8.16%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Royal Bank Of Canada decreased their price objective on shares of Martin Marietta Materials from $615.00 to $610.00 and set a "sector perform" rating on the stock in a report on Monday, August 3rd. Oppenheimer began coverage on shares of Martin Marietta Materials in a research note on Thursday, May 28th. They issued a "market perform" rating on the stock. Berenberg Bank set a $556.00 price objective on Martin Marietta Materials and gave the stock a "hold" rating in a research note on Tuesday, June 2nd. Wall Street Zen cut Martin Marietta Materials from a "hold" rating to a "sell" rating in a report on Tuesday, July 28th. Finally, Wells Fargo & Company decreased their target price on Martin Marietta Materials from $616.00 to $581.00 and set an "equal weight" rating on the stock in a research report on Friday, July 31st. Ten analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat, Martin Marietta Materials presently has an average rating of "Moderate Buy" and an average target price of $665.29.

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.

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