Connor Clark & Lunn Investment Management Ltd. Raises Position in Martin Marietta Materials, Inc. $MLM

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 73.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 781 shares of the construction company’s stock after buying an additional 330 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Martin Marietta Materials were worth $429,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MLM. Zions Bancorporation National Association UT purchased a new stake in shares of Martin Marietta Materials during the first quarter valued at approximately $30,000. NewSquare Capital LLC increased its stake in Martin Marietta Materials by 62.2% during the 2nd quarter. NewSquare Capital LLC now owns 60 shares of the construction company’s stock worth $33,000 after buying an additional 23 shares during the period. Aspect Partners LLC lifted its holdings in Martin Marietta Materials by 540.0% in the 2nd quarter. Aspect Partners LLC now owns 64 shares of the construction company’s stock worth $35,000 after buying an additional 54 shares in the last quarter. IMA Advisory Services Inc. purchased a new position in Martin Marietta Materials in the 1st quarter valued at about $40,000. Finally, Salomon & Ludwin LLC grew its stake in shares of Martin Marietta Materials by 156.7% during the second quarter. Salomon & Ludwin LLC now owns 77 shares of the construction company’s stock valued at $43,000 after acquiring an additional 47 shares in the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Price Performance

Shares of NYSE MLM opened at $597.60 on Friday. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $665.18. The company has a current ratio of 2.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $36.04 billion, a price-to-earnings ratio of 33.14, a price-to-earnings-growth ratio of 5.57 and a beta of 1.06. The business has a 50 day simple moving average of $618.78 and a 200-day simple moving average of $588.72.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Tuesday, November 4th. The construction company reported $5.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.62 by ($0.65). The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $2.06 billion. Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%. Martin Marietta Materials has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 1st will be paid a dividend of $0.83 per share. The ex-dividend date is Monday, December 1st. This represents a $3.32 annualized dividend and a yield of 0.6%. Martin Marietta Materials’s dividend payout ratio is 17.50%.

Analyst Upgrades and Downgrades

MLM has been the topic of several recent analyst reports. Wall Street Zen cut Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 8th. DA Davidson set a $690.00 target price on Martin Marietta Materials in a research report on Thursday, November 6th. Barclays increased their target price on Martin Marietta Materials from $600.00 to $675.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Royal Bank Of Canada restated a “sector perform” rating and issued a $525.00 price target (up previously from $515.00) on shares of Martin Marietta Materials in a research note on Friday, August 8th. Finally, Wells Fargo & Company reduced their price objective on shares of Martin Marietta Materials from $620.00 to $610.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $644.38.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.