Martin Marietta Materials, Inc. $MLM Shares Bought by NEOS Investment Management LLC

NEOS Investment Management LLC raised its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 15.1% during the second quarter, HoldingsChannel reports. The firm owned 9,378 shares of the construction company’s stock after buying an additional 1,232 shares during the quarter. NEOS Investment Management LLC’s holdings in Martin Marietta Materials were worth $5,408,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. CoreCap Advisors LLC increased its holdings in Martin Marietta Materials by 370.0% in the second quarter. CoreCap Advisors LLC now owns 47 shares of the construction company’s stock valued at $27,000 after buying an additional 37 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in 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 buying an additional 19 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in shares of Martin Marietta Materials during the 4th quarter worth about $31,000. Reflection Asset Management purchased a new position in shares of Martin Marietta Materials in the 4th quarter valued at about $35,000. Finally, Osterweis Capital Management Inc. purchased a new position in shares of Martin Marietta Materials in the 2nd quarter valued at about $37,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Trading Up 0.3%

NYSE:MLM opened at $516.12 on Monday. The company has a market capitalization of $31.00 billion, a PE ratio of 12.68, a P/E/G ratio of 2.22 and a beta of 1.10. Martin Marietta Materials, Inc. has a 52-week low of $502.56 and a 52-week high of $710.97. The stock’s 50 day moving average price is $552.62 and its 200 day moving average price is $584.67. The company has a quick ratio of 0.73, a current ratio of 1.41 and a debt-to-equity ratio of 0.44.

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 company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 21.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.43 earnings per share. On average, research analysts anticipate that Martin Marietta Materials, Inc. will post 19.07 EPS for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st will be given a $0.84 dividend. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.83. The ex-dividend date is Tuesday, September 1st. This represents a $3.36 annualized dividend and a yield of 0.7%. Martin Marietta Materials’s payout ratio is currently 8.26%.

Analyst Ratings Changes

Several research firms recently weighed in on MLM. Stephens decreased their target price on Martin Marietta Materials from $700.00 to $680.00 and set an “overweight” rating for the company in a research note on Friday, July 31st. DA Davidson started coverage on shares of Martin Marietta Materials in a research note on Monday, August 24th. They issued a “neutral” rating and a $625.00 price target on the stock. Royal Bank Of Canada raised 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 report on Friday, August 28th. Berenberg Bank set a $556.00 price objective on shares of Martin Marietta Materials and gave the stock a “hold” rating in a research report on Tuesday, June 2nd. Finally, Morgan Stanley dropped their target price on shares of Martin Marietta Materials from $664.00 to $639.00 and set an “overweight” rating on the stock in a research report on Thursday, August 13th. Eleven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $665.88.

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.