Stance Capital LLC Makes New Investment in Martin Marietta Materials, Inc. $MLM

Stance Capital LLC purchased a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) in the 4th quarter, HoldingsChannel reports. The fund purchased 2,208 shares of the construction company’s stock, valued at approximately $1,375,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rockefeller Capital Management L.P. raised its stake in shares of Martin Marietta Materials by 32.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 14,382 shares of the construction company’s stock worth $8,955,000 after acquiring an additional 3,554 shares in the last quarter. Osbon Capital Management LLC acquired a new stake in Martin Marietta Materials in the fourth quarter valued at approximately $85,000. Worthington Financial Partners LLC purchased a new position in Martin Marietta Materials in the fourth quarter worth $967,000. Reflection Asset Management purchased a new position in Martin Marietta Materials in the fourth quarter worth $35,000. Finally, Tobam increased its position in shares of Martin Marietta Materials by 1,262.8% during the fourth quarter. Tobam now owns 1,172 shares of the construction company’s stock worth $730,000 after purchasing an additional 1,086 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MLM. Barclays decreased their price objective on 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 set a $785.00 target price on shares of Martin Marietta Materials in a research report on Thursday, February 26th. Truist Financial lifted their price objective on shares of Martin Marietta Materials from $710.00 to $730.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Zacks Research raised shares of Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Finally, UBS Group set a $739.00 target price on Martin Marietta Materials in a research note on Sunday, May 10th. Ten analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $681.94.

Martin Marietta Materials Price Performance

Shares of NYSE MLM opened at $609.20 on Friday. Martin Marietta Materials, Inc. has a 52 week low of $525.38 and a 52 week high of $710.97. The business’s 50 day moving average price is $589.25 and its 200 day moving average price is $618.24. 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 firm has a market cap of $36.58 billion, a P/E ratio of 14.52, a P/E/G ratio of 2.58 and a beta of 1.10.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.31 billion. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. Martin Marietta Materials’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period last year, the firm posted $1.90 EPS. On average, sell-side analysts expect that Martin Marietta Materials, Inc. will post 19.41 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 1st will be given 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 0.5%. Martin Marietta Materials’s 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.