Turtle Creek Wealth Advisors LLC Purchases 1,615 Shares of Martin Marietta Materials, Inc. $MLM

Turtle Creek Wealth Advisors LLC increased its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 12.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,558 shares of the construction company’s stock after buying an additional 1,615 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in Martin Marietta Materials were worth $8,570,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd bought a new stake in Martin Marietta Materials in the 1st quarter worth approximately $7,377,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Martin Marietta Materials by 277.1% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 6,750 shares of the construction company’s stock valued at $3,974,000 after acquiring an additional 4,960 shares during the last quarter. Elevation Point Wealth Partners LLC boosted its position in shares of Martin Marietta Materials by 219.1% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 4,870 shares of the construction company’s stock valued at $2,867,000 after acquiring an additional 3,344 shares during the last quarter. Eagle Bay Advisors LLC grew its holdings in shares of Martin Marietta Materials by 11.3% in the first quarter. Eagle Bay Advisors LLC now owns 373 shares of the construction company’s stock valued at $220,000 after purchasing an additional 38 shares in the last quarter. Finally, Essex Financial Services Inc. grew its holdings in shares of Martin Marietta Materials by 29.7% in the first quarter. Essex Financial Services Inc. now owns 494 shares of the construction company’s stock valued at $291,000 after purchasing an additional 113 shares in the last quarter. 95.04% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on MLM. Zacks Research upgraded shares of Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Wall Street Zen lowered shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Berenberg Bank set a $556.00 price objective on shares of Martin Marietta Materials and gave the stock a “hold” rating in a research note on Tuesday, June 2nd. Raymond James Financial restated an “outperform” rating on shares of Martin Marietta Materials in a report on Monday. Finally, Weiss Ratings upgraded shares of Martin Marietta Materials from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, June 25th. Eleven equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, Martin Marietta Materials has an average rating of “Moderate Buy” and a consensus target price of $681.94.

Martin Marietta Materials Stock Up 3.6%

NYSE MLM opened at $599.97 on Friday. 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, Inc. has a 52 week low of $525.38 and a 52 week high of $710.97. The firm has a market capitalization of $36.03 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 2.46 and a beta of 1.10. The company has a fifty day moving average of $585.20 and a two-hundred day moving average of $617.03.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.15. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.31 billion. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The business’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.90 earnings per share. On average, analysts predict that Martin Marietta Materials, Inc. will post 19.38 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 1st were given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Monday, June 1st. Martin Marietta Materials’s dividend payout ratio is 7.91%.

Martin Marietta Materials 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.