Montanova Capital LLC Makes New Investment in Martin Marietta Materials, Inc. $MLM

Montanova Capital LLC purchased a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 26,000 shares of the construction company’s stock, valued at approximately $14,994,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CoreCap Advisors LLC raised its holdings in shares of Martin Marietta Materials by 370.0% in the second quarter. CoreCap Advisors LLC now owns 47 shares of the construction company’s stock worth $27,000 after buying an additional 37 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Martin Marietta Materials by 67.9% in the first quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock valued at $28,000 after purchasing an additional 19 shares during the period. Garton & Associates Financial Advisors LLC purchased a new position in shares of Martin Marietta Materials in the fourth quarter worth about $31,000. Reflection Asset Management acquired a new stake in shares of Martin Marietta Materials during the fourth quarter worth about $35,000. Finally, Osterweis Capital Management Inc. acquired a new stake in Martin Marietta Materials during the 2nd quarter valued at approximately $37,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MLM has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their price objective on Martin Marietta Materials from $700.00 to $680.00 and set a “neutral” rating for the company in a report on Friday, July 31st. Stephens reduced their price target on Martin Marietta Materials from $700.00 to $680.00 and set an “overweight” rating for the company in a research report on Friday, July 31st. Royal Bank Of Canada upped their price objective on shares of Martin Marietta Materials from $610.00 to $620.00 and gave the stock a “sector perform” rating in a research report on Friday. UBS Group dropped their price objective on Martin Marietta Materials from $739.00 to $715.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. Finally, Berenberg Bank set a $556.00 price objective on Martin Marietta Materials and gave the company a “hold” rating in a research report on Tuesday, June 2nd. Ten investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, Martin Marietta Materials has a consensus rating of “Moderate Buy” and a consensus price target of $665.88.

Martin Marietta Materials Stock Performance

Shares of NYSE:MLM opened at $518.75 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.41 and a quick ratio of 0.73. Martin Marietta Materials, Inc. has a 1 year low of $517.65 and a 1 year high of $710.97. The firm has a market capitalization of $31.16 billion, a PE ratio of 12.75, a P/E/G ratio of 2.29 and a beta of 1.11. The business’s 50 day moving average price is $560.97 and its 200-day moving average price is $589.12.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Thursday, July 30th. The construction company reported $5.00 EPS for the quarter, beating the consensus estimate of $4.76 by $0.24. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%.The firm’s revenue was up 21.0% compared to the same quarter last year. During the same period in the prior year, the company earned $5.43 EPS. As a group, equities research 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st will be given a dividend of $0.84 per share. The ex-dividend date is Tuesday, September 1st. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.83. This represents a $3.36 dividend on an annualized basis and a yield of 0.6%. Martin Marietta Materials’s dividend payout ratio (DPR) is 8.16%.

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.