OP Asset Management Ltd Purchases New Position in Martin Marietta Materials, Inc. $MLM

OP Asset Management Ltd acquired a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 6,116 shares of the construction company’s stock, valued at approximately $3,600,000.

Several other large investors also recently added to or reduced their stakes in MLM. Optima Capital LLC bought a new stake in shares of Martin Marietta Materials in the 4th quarter valued at approximately $25,000. KERR FINANCIAL PLANNING Corp bought a new position in shares of Martin Marietta Materials during the 3rd quarter valued at approximately $27,000. Garton & Associates Financial Advisors LLC purchased a new stake in Martin Marietta Materials during the 4th quarter valued at $31,000. Union Bancaire Privee UBP SA purchased a new stake in Martin Marietta Materials during the 4th quarter valued at $36,000. Finally, Reflection Asset Management bought a new stake in Martin Marietta Materials in the fourth quarter worth $35,000. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock opened at $616.07 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. The stock’s fifty day moving average is $587.99 and its two-hundred day moving average is $618.20. Martin Marietta Materials, Inc. has a 52 week low of $525.38 and a 52 week high of $710.97. The company has a market capitalization of $36.99 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 2.67 and a beta of 1.10.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.15. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.31 billion. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.The business’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period last year, the company earned $1.90 earnings per share. As a group, analysts expect that Martin Marietta Materials, Inc. will post 19.41 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 1st will be issued a dividend of $0.83 per share. The ex-dividend date is Monday, June 1st. This represents a $3.32 dividend on an annualized basis and a yield of 0.5%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 7.91%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Berenberg Bank set a $556.00 price objective on shares of Martin Marietta Materials and gave the company a “hold” rating in a research report on Tuesday, June 2nd. Truist Financial raised their target price on shares of Martin Marietta Materials from $710.00 to $730.00 and gave the stock a “buy” rating in a report on Monday, May 4th. B. Riley Financial raised shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 price target for the company in a research note on Thursday, April 2nd. Zacks Research upgraded shares of Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Finally, UBS Group set a $739.00 price objective on shares of Martin Marietta Materials in a research report on Sunday, May 10th. Eleven investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and an average price target 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.