Findlay Park Partners LLP Buys New Shares in Martin Marietta Materials, Inc. $MLM

Findlay Park Partners LLP bought a new position in Martin Marietta Materials, Inc. (NYSE:MLM) in the 2nd quarter, Holdings Channel.com reports. The fund bought 207,262 shares of the construction company’s stock, valued at approximately $119,528,000.

A number of other institutional investors have also bought and sold shares of the business. Northwestern Mutual Wealth Management Co. boosted its stake in Martin Marietta Materials by 14,332.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the construction company’s stock worth $48,438,000 after purchasing an additional 77,253 shares during the period. Jennison Associates LLC purchased a new stake in Martin Marietta Materials during the 4th quarter valued at approximately $18,636,000. Victory Capital Management Inc. raised its position in shares of Martin Marietta Materials by 51.8% during the fourth quarter. Victory Capital Management Inc. now owns 2,448,928 shares of the construction company’s stock valued at $1,524,853,000 after buying an additional 836,120 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Martin Marietta Materials by 4.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 126,524 shares of the construction company’s stock valued at $80,272,000 after buying an additional 5,227 shares during the last quarter. Finally, Stephens Inc. AR lifted its holdings in shares of Martin Marietta Materials by 11.2% in the fourth quarter. Stephens Inc. AR now owns 51,326 shares of the construction company’s stock worth $31,958,000 after buying an additional 5,150 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Up 1.9%

NYSE MLM opened at $535.28 on Friday. The stock has a 50 day moving average price of $569.66 and a 200-day moving average price of $596.04. Martin Marietta Materials, Inc. has a one year low of $522.19 and a one year high of $710.97. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.73 and a current ratio of 1.41. The company has a market capitalization of $32.15 billion, a P/E ratio of 13.15, a P/E/G 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 the consensus estimate of $4.76 by $0.24. The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. Martin Marietta Materials’s quarterly revenue was up 21.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.43 earnings per share. As a group, equities analysts predict that Martin Marietta Materials, Inc. will post 19.07 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st will be issued a $0.84 dividend. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.83. The ex-dividend date is Tuesday, September 1st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.6%. Martin Marietta Materials’s payout ratio is presently 8.16%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Tuesday, July 28th. Berenberg Bank set a $556.00 price target on shares of Martin Marietta Materials and gave the company a “hold” rating in a report on Tuesday, June 2nd. Raymond James Financial set a $660.00 price target on shares of Martin Marietta Materials in a research note on Friday, July 31st. UBS Group dropped their price objective on shares of Martin Marietta Materials from $739.00 to $715.00 and set a “buy” rating for the company in a report on Monday, August 3rd. Finally, Truist Financial lifted 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. Ten investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $668.53.

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.