Thoroughbred Financial Services LLC Acquires New Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Thoroughbred Financial Services LLC acquired a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 605 shares of the construction company’s stock, valued at approximately $328,000.

Several other institutional investors also recently bought and sold shares of MLM. Norges Bank purchased a new stake in Martin Marietta Materials during the 4th quarter valued at about $308,705,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Martin Marietta Materials by 114.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock valued at $602,092,000 after acquiring an additional 523,038 shares during the last quarter. Balyasny Asset Management L.P. boosted its holdings in shares of Martin Marietta Materials by 4,244.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 277,182 shares of the construction company’s stock valued at $138,289,000 after acquiring an additional 270,802 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in shares of Martin Marietta Materials by 306.8% during the 4th quarter. Corient Private Wealth LLC now owns 161,690 shares of the construction company’s stock valued at $80,668,000 after acquiring an additional 121,941 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Martin Marietta Materials by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 7,170,166 shares of the construction company’s stock valued at $3,577,268,000 after acquiring an additional 69,701 shares during the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Trading Up 0.8 %

MLM stock opened at $534.04 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 1.86 and a debt-to-equity ratio of 0.45. Martin Marietta Materials, Inc. has a twelve month low of $389.90 and a twelve month high of $626.67. The stock has a market capitalization of $32.92 billion, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 3.52 and a beta of 0.91. The firm’s fifty day simple moving average is $541.39 and its two-hundred day simple moving average is $567.97.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Thursday, August 8th. The construction company reported $4.76 earnings per share for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.60). Martin Marietta Materials had a net margin of 30.80% and a return on equity of 13.85%. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter last year, the firm earned $5.60 EPS. The company’s revenue was down 3.1% on a year-over-year basis. As a group, analysts anticipate that Martin Marietta Materials, Inc. will post 19.33 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be issued a $0.79 dividend. The ex-dividend date is Tuesday, September 3rd. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.74. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.59%. Martin Marietta Materials’s dividend payout ratio is presently 9.36%.

Wall Street Analyst Weigh In

MLM has been the topic of several recent research reports. Jefferies Financial Group increased their price objective on shares of Martin Marietta Materials from $660.00 to $665.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Stifel Nicolaus reduced their price objective on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. StockNews.com upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Tuesday. Stephens reduced their price objective on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Finally, Morgan Stanley raised their target price on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Martin Marietta Materials presently has an average rating of “Moderate Buy” and an average target price of $629.82.

About Martin Marietta Materials

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.