Patron Partners LLC Acquires New Holdings in Martin Marietta Materials, Inc. $MLM

Patron Partners LLC bought a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,151 shares of the construction company’s stock, valued at approximately $664,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MLM. Lido Advisors LLC increased its stake in shares of Martin Marietta Materials by 0.8% in the fourth quarter. Lido Advisors LLC now owns 1,920 shares of the construction company’s stock valued at $1,209,000 after purchasing an additional 15 shares during the period. Ashton Thomas Private Wealth LLC boosted its position in shares of Martin Marietta Materials by 3.9% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 424 shares of the construction company’s stock worth $264,000 after buying an additional 16 shares during the period. Harbour Investments Inc. boosted its position in shares of Martin Marietta Materials by 31.4% during the fourth quarter. Harbour Investments Inc. now owns 67 shares of the construction company’s stock worth $42,000 after buying an additional 16 shares during the period. AMG National Trust Bank grew its holdings in Martin Marietta Materials by 3.6% in the 1st quarter. AMG National Trust Bank now owns 495 shares of the construction company’s stock worth $291,000 after buying an additional 17 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in Martin Marietta Materials by 0.8% in the 4th quarter. Quadrant Capital Group LLC now owns 2,186 shares of the construction company’s stock worth $1,361,000 after buying an additional 17 shares in the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Price Performance

NYSE MLM opened at $535.28 on Friday. Martin Marietta Materials, Inc. has a 12 month low of $522.19 and a 12 month high of $710.97. The firm has a market capitalization of $32.15 billion, a PE ratio of 13.15, a P/E/G ratio of 2.27 and a beta of 1.11. The company’s 50 day simple moving average is $569.66 and its 200 day simple moving average is $596.04. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.41 and a quick ratio of 0.73.

Martin Marietta Materials (NYSE:MLM) last released its 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 firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%.The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.43 earnings per share. As a group, equities research analysts forecast that Martin Marietta Materials, Inc. will post 19.07 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st will be paid a dividend of $0.84 per share. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.83. This represents a $3.36 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is 8.16%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Morgan Stanley lowered their target price on Martin Marietta Materials from $664.00 to $639.00 and set an “overweight” rating on the stock in a research report on Thursday, August 13th. Stephens decreased their price target on Martin Marietta Materials from $700.00 to $680.00 and set an “overweight” rating for the company in a research note on Friday, July 31st. JPMorgan Chase & Co. lowered their price target on Martin Marietta Materials from $700.00 to $680.00 and set a “neutral” rating on the stock in a report on Friday, July 31st. Wall Street Zen cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Tuesday, July 28th. Finally, Oppenheimer started coverage on shares of Martin Marietta Materials in a research note on Thursday, May 28th. They set a “market perform” rating on the stock. Ten research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $668.53.

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.