Martin Marietta Materials, Inc. $MLM Shares Acquired by Assetmark Inc.

Assetmark Inc. increased its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 21.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,787 shares of the construction company’s stock after purchasing an additional 6,301 shares during the quarter. Assetmark Inc. owned approximately 0.06% of Martin Marietta Materials worth $21,067,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MLM. Optima Capital LLC purchased a new position in shares of Martin Marietta Materials in the 4th quarter valued at $25,000. Garton & Associates Financial Advisors LLC acquired a new stake in Martin Marietta Materials during the 4th quarter worth $31,000. Reflection Asset Management purchased a new stake in Martin Marietta Materials in the fourth quarter valued at $35,000. Union Bancaire Privee UBP SA purchased a new stake in Martin Marietta Materials in the fourth quarter valued at $36,000. Finally, Osterweis Capital Management Inc. acquired a new position in Martin Marietta Materials in the second quarter valued at $37,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Price Performance

Shares of NYSE MLM opened at $563.57 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.28 and a quick ratio of 1.11. The stock has a fifty day moving average price of $578.36 and a 200 day moving average price of $612.91. Martin Marietta Materials, Inc. has a 1-year low of $525.38 and a 1-year high of $710.97. The company has a market cap of $33.84 billion, a PE ratio of 13.43, a P/E/G ratio of 2.40 and a beta of 1.10.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.15. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. Martin Marietta Materials’s revenue was up 17.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.90 EPS. Sell-side analysts forecast that Martin Marietta Materials, Inc. will post 19.43 EPS for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st were given a dividend of $0.83 per share. The ex-dividend date was Monday, June 1st. This represents a $3.32 annualized dividend and a yield of 0.6%. Martin Marietta Materials’s payout ratio is presently 7.91%.

Analysts Set New Price Targets

MLM has been the topic of several research reports. Zacks Research raised Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Wells Fargo & Company boosted their target price on Martin Marietta Materials from $614.00 to $616.00 and gave the company an “equal weight” rating in a report on Wednesday, July 8th. Berenberg Bank set a $556.00 target price on Martin Marietta Materials and gave the company a “hold” rating in a research report on Tuesday, June 2nd. Truist Financial raised their price target on Martin Marietta Materials from $710.00 to $730.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Finally, UBS Group set a $739.00 price target on Martin Marietta Materials in a research report on Sunday, May 10th. Eleven equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, Martin Marietta Materials presently has an average rating of “Moderate Buy” and a consensus target price of $681.53.

Martin Marietta Materials 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.