Interval Partners LP Acquires New Position in Martin Marietta Materials, Inc. $MLM

Interval Partners LP acquired a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the fourth quarter, Holdings Channel.com reports. The fund acquired 207,170 shares of the construction company’s stock, valued at approximately $128,996,000. Martin Marietta Materials accounts for approximately 2.3% of Interval Partners LP’s portfolio, making the stock its 4th largest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Optima Capital LLC bought a new stake in Martin Marietta Materials in the fourth quarter worth approximately $25,000. KERR FINANCIAL PLANNING Corp bought a new stake in Martin Marietta Materials in the third quarter worth approximately $27,000. Redmont Wealth Advisors LLC bought a new stake in Martin Marietta Materials in the third quarter worth approximately $32,000. Union Bancaire Privee UBP SA bought a new stake in Martin Marietta Materials in the fourth quarter worth approximately $36,000. Finally, Osterweis Capital Management Inc. bought a new stake in Martin Marietta Materials in the second quarter worth approximately $37,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Price Performance

Shares of Martin Marietta Materials stock opened at $590.40 on Thursday. The firm has a fifty day simple moving average of $589.25 and a 200-day simple moving average of $618.41. The company has a current ratio of 2.28, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. Martin Marietta Materials, Inc. has a 1-year low of $525.38 and a 1-year high of $710.97. The stock has a market capitalization of $35.45 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 2.56 and a beta of 1.10.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data 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. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the company earned $1.90 earnings per share. Martin Marietta Materials’s revenue for the quarter was up 17.2% on a year-over-year basis. On average, sell-side analysts expect that Martin Marietta Materials, Inc. will post 19.41 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have commented on the stock. Zacks Research raised shares of Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. B. Riley Financial raised shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 target price for the company in a research report on Thursday, April 2nd. Berenberg Bank set a $556.00 target price on shares of Martin Marietta Materials and gave the stock a “hold” rating in a research report on Tuesday, June 2nd. Morgan Stanley decreased their target price on shares of Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating for the company in a research report on Monday, April 6th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $785.00 target price on shares of Martin Marietta Materials in a research report on Thursday, February 26th. Ten equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $681.94.

Martin Marietta Materials Company 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.