Mitchell Capital Management Co. Decreases Stake in Martin Marietta Materials, Inc. $MLM

Mitchell Capital Management Co. lowered its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 32.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 7,167 shares of the construction company’s stock after selling 3,456 shares during the quarter. Mitchell Capital Management Co.’s holdings in Martin Marietta Materials were worth $4,463,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Ashton Thomas Private Wealth LLC grew its holdings in shares of Martin Marietta Materials by 3.9% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 424 shares of the construction company’s stock worth $264,000 after purchasing an additional 16 shares during the period. Harbour Investments Inc. grew its holdings in shares of Martin Marietta Materials by 31.4% during the 4th quarter. Harbour Investments Inc. now owns 67 shares of the construction company’s stock worth $42,000 after purchasing an additional 16 shares during the period. Fiduciary Alliance LLC grew its holdings in shares of Martin Marietta Materials by 2.6% during the 4th quarter. Fiduciary Alliance LLC now owns 702 shares of the construction company’s stock worth $437,000 after purchasing an additional 18 shares during the period. Vise Technologies Inc. grew its holdings in shares of Martin Marietta Materials by 2.5% during the 3rd quarter. Vise Technologies Inc. now owns 731 shares of the construction company’s stock worth $461,000 after purchasing an additional 18 shares during the period. Finally, Snowden Capital Advisors LLC grew its holdings in shares of Martin Marietta Materials by 1.9% during the 2nd quarter. Snowden Capital Advisors LLC now owns 970 shares of the construction company’s stock worth $533,000 after purchasing an additional 18 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MLM. Citigroup decreased their target price on Martin Marietta Materials from $804.00 to $731.00 and set a “buy” rating for the company in a report on Monday, May 4th. Barclays decreased their target price 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. Weiss Ratings upgraded Martin Marietta Materials from a “hold (c)” rating to a “buy (b-)” rating in a report on Friday, May 15th. Truist Financial boosted their target price on Martin Marietta Materials from $710.00 to $730.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Finally, DA Davidson set a $680.00 target price on Martin Marietta Materials in a report on Thursday, February 12th. Eleven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $689.81.

Martin Marietta Materials Stock Up 1.3%

NYSE MLM opened at $582.80 on Friday. The stock has a market cap of $35.00 billion, a PE ratio of 13.89, a P/E/G ratio of 2.11 and a beta of 1.13. Martin Marietta Materials, Inc. has a fifty-two week low of $525.38 and a fifty-two week high of $710.97. The business has a 50 day moving average price of $590.95 and a two-hundred day moving average price of $621.11. The company has a quick ratio of 1.11, a current ratio of 2.28 and a debt-to-equity ratio of 0.47.

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

Martin Marietta Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Monday, June 1st. Martin Marietta Materials’s dividend payout ratio is 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.