TimesSquare Capital Management LLC Buys Shares of 73,311 Martin Marietta Materials, Inc. $MLM

TimesSquare Capital Management LLC bought a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 73,311 shares of the construction company’s stock, valued at approximately $42,278,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of MLM. Meeder Asset Management Inc. lifted its stake in shares of Martin Marietta Materials by 67.9% during the 1st quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock worth $28,000 after acquiring an additional 19 shares during the last quarter. CoreCap Advisors LLC grew its position in Martin Marietta Materials by 370.0% in the 2nd quarter. CoreCap Advisors LLC now owns 47 shares of the construction company’s stock valued at $27,000 after acquiring an additional 37 shares during the last quarter. Garton & Associates Financial Advisors LLC bought a new position in Martin Marietta Materials in the 4th quarter valued at $31,000. Reflection Asset Management bought a new position in Martin Marietta Materials in the 4th quarter valued at $35,000. Finally, Quarry LP purchased a new stake in Martin Marietta Materials in the third quarter worth $38,000. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials Trading Down 1.6%

Shares of NYSE MLM opened at $539.42 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 1.41 and a debt-to-equity ratio of 0.44. The business has a fifty day simple moving average of $572.58 and a two-hundred day simple moving average of $599.05. The firm has a market cap of $32.40 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 2.37 and a beta of 1.11. Martin Marietta Materials, Inc. has a twelve month low of $523.48 and a twelve month high of $710.97.

Martin Marietta Materials (NYSE:MLM) last issued its 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. Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%.The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the prior year, the business earned $5.43 EPS. The business’s revenue for the quarter was up 21.0% compared to the same quarter last year. Analysts expect that Martin Marietta Materials, Inc. will post 19.07 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

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

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Oppenheimer started coverage on Martin Marietta Materials in a research report on Thursday, May 28th. They set a “market perform” rating for the company. Royal Bank Of Canada reduced their price target on shares of Martin Marietta Materials from $615.00 to $610.00 and set a “sector perform” rating on the stock in a research note on Monday, August 3rd. Raymond James Financial set a $660.00 price objective on shares of Martin Marietta Materials in a report on Friday, July 31st. Weiss Ratings raised shares of Martin Marietta Materials from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, June 25th. Finally, Wolfe Research set a $648.00 price objective on shares of Martin Marietta Materials in a research report on Tuesday, August 4th. Eleven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, Martin Marietta Materials currently has an average rating of “Moderate Buy” and an average 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.