United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Invests $8.70 Million in Martin Marietta Materials, Inc. $MLM

Key Points

• United Super Pty Ltd bought a new stake of 13,795 shares in Martin Marietta Materials (NYSE:MLM) in Q3, valued at about $8.70 million.
• Martin Marietta missed quarterly estimates, reporting EPS of $4.62 versus $4.81 expected and revenue of $1.53 billion versus $1.66 billion, though revenue was up 9.3% year‑over‑year.
• The company announced a quarterly dividend of $0.83 (annualized $3.32, yield 0.5%), while analysts are mixed—average rating "Hold" with a consensus price target of about $697.13 (8 Buy / 8 Hold / 1 Sell).

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 13,795 shares of the construction company's stock, valued at approximately $8,695,000.

A number of other institutional investors have also modified their holdings of the company. Quent Capital LLC acquired a new position in Martin Marietta Materials in the 3rd quarter valued at about $26,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Martin Marietta Materials in the second quarter valued at $28,000. Redmont Wealth Advisors LLC acquired a new stake in Martin Marietta Materials in the 3rd quarter valued at about $32,000. Grey Fox Wealth Advisors LLC acquired a new stake in Martin Marietta Materials in the third quarter valued at approximately $33,000. Finally, Clearstead Trust LLC raised its holdings in shares of Martin Marietta Materials by 93.8% in the 2nd quarter. Clearstead Trust LLC now owns 62 shares of the construction company's stock valued at $34,000 after purchasing an additional 30 shares in the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $611.01 on Friday. The firm has a market capitalization of $36.85 billion, a price-to-earnings ratio of 32.50, a price-to-earnings-growth ratio of 2.34 and a beta of 1.13. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.57 and a quick ratio of 2.36. The business's 50 day simple moving average is $657.46 and its 200-day simple moving average is $632.91. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $710.97.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings data on Wednesday, February 11th. The construction company reported $4.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($0.19). The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.66 billion. Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.The business's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.79 earnings per share. As a group, equities analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 2nd will be given a $0.83 dividend. The ex-dividend date is Monday, March 2nd. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. Martin Marietta Materials's payout ratio is currently 17.66%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MLM shares. Loop Capital cut Martin Marietta Materials from a "buy" rating to a "hold" rating and set a $690.00 target price for the company. in a research note on Wednesday, January 28th. Wells Fargo & Company decreased their target price on shares of Martin Marietta Materials from $631.00 to $612.00 and set an "equal weight" rating for the company in a research note on Thursday, February 12th. JPMorgan Chase & Co. increased their price target on Martin Marietta Materials from $670.00 to $700.00 and gave the stock a "neutral" rating in a report on Tuesday, November 11th. Citigroup lifted their price objective on Martin Marietta Materials from $780.00 to $804.00 and gave the company a "buy" rating in a report on Monday, March 2nd. Finally, Wall Street Zen lowered shares of Martin Marietta Materials from a "hold" rating to a "strong sell" rating in a research report on Saturday, November 8th. Eight equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $697.13.

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.

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.