TimesSquare Capital Management LLC Trims Holdings in Martin Marietta Materials, Inc. $MLM

Key Points

• TimesSquare Capital Management cut its stake in Martin Marietta Materials by 4.8% in the fourth quarter, leaving it with 91,094 shares worth about $56.7 million.
• Martin Marietta reported better-than-expected Q1 earnings, posting $1.93 per share versus the $1.78 estimate, while revenue rose 17.2% year over year to $1.36 billion.
• Analyst sentiment remains generally positive despite some lowered price targets: the stock has a Moderate Buy consensus rating and a consensus target price of $689.81.

TimesSquare Capital Management LLC trimmed its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 4.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 91,094 shares of the construction company's stock after selling 4,610 shares during the quarter. TimesSquare Capital Management LLC owned about 0.15% of Martin Marietta Materials worth $56,721,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MLM. Integrated Wealth Concepts LLC grew its position in 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 grew its position in 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 grew its position in 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 grew its position in 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 grew its position in 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. 95.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MLM has been the topic of several recent analyst reports. Citigroup cut their price objective on shares of Martin Marietta Materials from $804.00 to $731.00 and set a "buy" rating on the stock in a research report on Monday, May 4th. Morgan Stanley cut their price objective on shares of Martin Marietta Materials from $702.00 to $664.00 and set an "overweight" rating on the stock in a research report on Monday, April 6th. Weiss Ratings raised shares of Martin Marietta Materials from a "hold (c)" rating to a "buy (b-)" rating in a research report on Friday. Jefferies Financial Group reissued a "buy" rating and set a $785.00 price objective on shares of Martin Marietta Materials in a research report on Thursday, February 26th. Finally, Truist Financial increased their price objective on shares of Martin Marietta Materials from $710.00 to $730.00 and gave the company a "buy" rating in a research report on Monday, May 4th. Eleven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $689.81.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $555.73 on Tuesday. The firm's 50 day moving average price is $598.01 and its 200-day moving average price is $625.02. Martin Marietta Materials, Inc. has a twelve month low of $532.80 and a twelve month high of $710.97. 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 stock has a market capitalization of $33.37 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of 2.02 and a beta of 1.13.

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

Martin Marietta Materials Dividend Announcement

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

About Martin Marietta Materials

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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