Jupiter Topco LLC Takes $32.36 Million Position in Martin Marietta Materials, Inc. $MLM

Jupiter Topco LLC purchased a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 56,106 shares of the construction company’s stock, valued at approximately $32,356,000.

Several other hedge funds have also made changes to their positions in MLM. Integrated Wealth Concepts LLC increased its position in Martin Marietta Materials by 6.6% in the first quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company’s stock worth $379,000 after buying an additional 49 shares during the period. Empowered Funds LLC boosted its holdings in shares of Martin Marietta Materials by 11.4% during the first quarter. Empowered Funds LLC now owns 1,408 shares of the construction company’s stock valued at $673,000 after acquiring an additional 144 shares during the period. Sivia Capital Partners LLC boosted its holdings in shares of Martin Marietta Materials by 11.1% during the second quarter. Sivia Capital Partners LLC now owns 510 shares of the construction company’s stock valued at $280,000 after acquiring an additional 51 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Martin Marietta Materials by 205.9% during the second quarter. EverSource Wealth Advisors LLC now owns 260 shares of the construction company’s stock worth $143,000 after acquiring an additional 175 shares during the last quarter. Finally, Cresset Asset Management LLC grew its position in shares of Martin Marietta Materials by 22.6% during the second quarter. Cresset Asset Management LLC now owns 777 shares of the construction company’s stock worth $427,000 after acquiring an additional 143 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on MLM shares. Truist Financial lifted their price objective on shares of Martin Marietta Materials from $710.00 to $730.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Raymond James Financial set a $660.00 target price on shares of Martin Marietta Materials in a research note on Friday, July 31st. Wolfe Research set a $648.00 target price on shares of Martin Marietta Materials in a research report on Tuesday, August 4th. Berenberg Bank set a $556.00 price target on shares of Martin Marietta Materials and gave the company a “hold” rating in a research note on Tuesday, June 2nd. Finally, Morgan Stanley cut their price target on Martin Marietta Materials from $664.00 to $639.00 and set an “overweight” rating on the stock in a report on Thursday, August 13th. Ten 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 company currently has a consensus rating of “Moderate Buy” and a consensus price target of $665.88.

Martin Marietta Materials Price Performance

Shares of MLM opened at $531.11 on Friday. The firm has a market capitalization of $31.90 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 2.28 and a beta of 1.11. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.73 and a current ratio of 1.41. Martin Marietta Materials, Inc. has a one year low of $522.19 and a one year high of $710.97. The stock’s fifty day moving average is $562.81 and its 200-day moving average is $591.20.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Thursday, July 30th. The construction company reported $5.00 earnings per share for the quarter, beating analysts’ consensus estimates of $4.76 by $0.24. The business 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%. The company’s revenue was up 21.0% on a year-over-year basis. During the same period in the previous year, the business earned $5.43 earnings per share. Equities analysts anticipate that Martin Marietta Materials, Inc. will post 19.07 EPS for the current year.

Martin Marietta Materials Increases Dividend

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

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.