Drummond Knight Asset Management Pty Ltd Purchases Shares of 32,000 Martin Marietta Materials, Inc. $MLM

Drummond Knight Asset Management Pty Ltd purchased a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 32,000 shares of the construction company’s stock, valued at approximately $19,925,000. Martin Marietta Materials makes up approximately 5.6% of Drummond Knight Asset Management Pty Ltd’s investment portfolio, making the stock its 8th biggest holding. Drummond Knight Asset Management Pty Ltd owned approximately 0.05% of Martin Marietta Materials at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Aaron Wealth Advisors LLC grew its stake in Martin Marietta Materials by 13.8% in the fourth quarter. Aaron Wealth Advisors LLC now owns 702 shares of the construction company’s stock valued at $437,000 after purchasing an additional 85 shares in the last quarter. Flagship Harbor Advisors LLC bought a new position in Martin Marietta Materials in the fourth quarter valued at approximately $136,000. Y.D. More Investments Ltd bought a new position in Martin Marietta Materials in the fourth quarter valued at approximately $1,313,000. Trust Investment Advisors grew its stake in Martin Marietta Materials by 5.2% in the fourth quarter. Trust Investment Advisors now owns 1,898 shares of the construction company’s stock valued at $1,182,000 after purchasing an additional 93 shares in the last quarter. Finally, Myriad Asset Management US LP bought a new position in Martin Marietta Materials in the fourth quarter valued at approximately $502,000. 95.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MLM shares. Barclays decreased their price target on Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating for the company in a research note on Tuesday, March 31st. Truist Financial set a $710.00 target price on Martin Marietta Materials in a research note on Thursday, February 12th. Wells Fargo & Company reduced their target price on Martin Marietta Materials from $631.00 to $612.00 and set an “equal weight” rating for the company in a research note on Thursday, February 12th. Morgan Stanley reduced their target price on Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $630.00 target price on shares of Martin Marietta Materials in a research note on Thursday, February 26th. Nine equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $692.31.

Martin Marietta Materials Stock Performance

Shares of NYSE MLM opened at $598.09 on Tuesday. The company has a current ratio of 3.57, a quick ratio of 2.36 and a debt-to-equity ratio of 0.53. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $710.97. The stock has a 50 day moving average of $633.44 and a 200-day moving average of $628.83. The company has a market capitalization of $36.07 billion, a P/E ratio of 31.81, a P/E/G ratio of 2.34 and a beta of 1.19.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Wednesday, February 11th. The construction company reported $4.62 EPS for the quarter, missing the consensus estimate of $4.81 by ($0.19). The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.66 billion. Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.The business’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.79 earnings per share. As a group, equities research analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 2nd were paid a $0.83 dividend. The ex-dividend date was Monday, March 2nd. This represents a $3.32 annualized dividend and a yield of 0.6%. Martin Marietta Materials’s payout ratio is 17.66%.

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.