Camrose Capital Investment Partners LLP Purchases New Holdings in Martin Marietta Materials, Inc. $MLM

Camrose Capital Investment Partners LLP purchased a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 146,170 shares of the construction company’s stock, valued at approximately $84,296,000. Martin Marietta Materials makes up 9.5% of Camrose Capital Investment Partners LLP’s holdings, making the stock its 6th biggest holding.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Martin Marietta Materials during the 2nd quarter valued at $2,706,134,000. Victory Capital Management Inc. increased its position in shares of Martin Marietta Materials by 51.8% in the fourth quarter. Victory Capital Management Inc. now owns 2,448,928 shares of the construction company’s stock worth $1,524,853,000 after purchasing an additional 836,120 shares during the period. Norges Bank bought a new position in shares of Martin Marietta Materials in the fourth quarter worth $354,681,000. Bank of America Corp DE raised its stake in Martin Marietta Materials by 31.9% in the second quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock valued at $1,284,938,000 after purchasing an additional 565,856 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Martin Marietta Materials in the second quarter valued at about $199,321,000. Institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on MLM. Citigroup cut their price objective on shares of Martin Marietta Materials from $737.00 to $690.00 and set a “buy” rating for the company in a research report on Monday, August 3rd. Oppenheimer assumed coverage on shares of Martin Marietta Materials in a research report on Thursday, May 28th. They issued a “market perform” rating for the company. Royal Bank Of Canada cut their price target on shares of Martin Marietta Materials from $615.00 to $610.00 and set a “sector perform” rating for the company in a report on Monday, August 3rd. DA Davidson set a $625.00 price target on shares of Martin Marietta Materials in a research report on Monday. Finally, Wells Fargo & Company decreased their price objective on shares of Martin Marietta Materials from $616.00 to $581.00 and set an “equal weight” rating on the stock in a research note on Friday, July 31st. Ten analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $665.29.

Martin Marietta Materials Stock Down 0.4%

Shares of NYSE MLM opened at $532.96 on Tuesday. The company has a market cap of $32.01 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 2.31 and a beta of 1.11. The company has a current ratio of 1.41, a quick ratio of 0.73 and a debt-to-equity ratio of 0.44. Martin Marietta Materials, Inc. has a 12 month low of $522.19 and a 12 month high of $710.97. The stock has a 50-day moving average price of $568.55 and a two-hundred day moving average price of $594.70.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $1.87 billion. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. The firm’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period last year, the company posted $5.43 EPS. As a group, analysts forecast 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 paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.83. Martin Marietta Materials’s payout ratio is currently 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.