Osmosis Investment Management UK Ltd Invests $959,000 in Martin Marietta Materials, Inc. $MLM

Osmosis Investment Management UK Ltd bought a new position in Martin Marietta Materials, Inc. (NYSE:MLM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,663 shares of the construction company’s stock, valued at approximately $959,000.

A number of other institutional investors and hedge funds also recently modified their holdings of MLM. Meeder Asset Management Inc. increased its stake in Martin Marietta Materials by 67.9% in the 1st quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock worth $28,000 after purchasing an additional 19 shares in the last quarter. CoreCap Advisors LLC raised its holdings in Martin Marietta Materials by 370.0% during the 2nd quarter. CoreCap Advisors LLC now owns 47 shares of the construction company’s stock worth $27,000 after buying an additional 37 shares during the period. Garton & Associates Financial Advisors LLC purchased a new stake in Martin Marietta Materials during the fourth quarter valued at about $31,000. Reflection Asset Management purchased a new stake in Martin Marietta Materials during the fourth quarter valued at about $35,000. Finally, Quarry LP acquired a new position in shares of Martin Marietta Materials in the third quarter worth about $38,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Performance

Shares of MLM opened at $532.96 on Tuesday. Martin Marietta Materials, Inc. has a 12 month low of $522.19 and a 12 month high of $710.97. The company’s fifty day moving average is $568.55 and its 200-day moving average is $594.70. 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 firm has a market cap of $32.01 billion, a price-to-earnings ratio of 13.09, a price-to-earnings-growth ratio of 2.31 and a beta of 1.11.

Martin Marietta Materials (NYSE:MLM) last announced 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 company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%.The business’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.43 earnings per share. Equities analysts expect that Martin Marietta Materials, Inc. will post 19.07 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend 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 currently 8.16%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MLM. Berenberg Bank set a $556.00 target price on shares of Martin Marietta Materials and gave the stock a “hold” rating in a research report on Tuesday, June 2nd. Wells Fargo & Company reduced their price target on shares of Martin Marietta Materials from $616.00 to $581.00 and set an “equal weight” rating for the company in a research report on Friday, July 31st. Oppenheimer began coverage on shares of Martin Marietta Materials in a research note on Thursday, May 28th. They issued a “market perform” rating for the company. 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 report on Monday, May 4th. Finally, Weiss Ratings downgraded shares of Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, August 17th. Ten investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $665.29.

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.