TimesSquare Capital Management LLC Cuts Stake in Martin Marietta Materials, Inc. $MLM

TimesSquare Capital Management LLC reduced its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 4.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,094 shares of the construction company’s stock after selling 4,610 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Martin Marietta Materials were worth $56,721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in MLM. Integrated Wealth Concepts LLC grew its holdings in Martin Marietta Materials by 6.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company’s stock valued at $379,000 after buying an additional 49 shares in the last quarter. Empowered Funds LLC grew its holdings in Martin Marietta Materials by 11.4% during the 1st quarter. Empowered Funds LLC now owns 1,408 shares of the construction company’s stock valued at $673,000 after buying an additional 144 shares in the last quarter. Sivia Capital Partners LLC grew its holdings in Martin Marietta Materials by 11.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 510 shares of the construction company’s stock valued at $280,000 after buying an additional 51 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Martin Marietta Materials by 205.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 260 shares of the construction company’s stock valued at $143,000 after buying an additional 175 shares in the last quarter. Finally, Cresset Asset Management LLC grew its holdings in Martin Marietta Materials by 22.6% during the 2nd quarter. Cresset Asset Management LLC now owns 777 shares of the construction company’s stock valued at $427,000 after buying an additional 143 shares in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MLM has been the subject of a number of research analyst reports. Stephens cut their price objective on shares of Martin Marietta Materials from $740.00 to $735.00 and set an “overweight” rating for the company in a report on Friday, February 13th. Citigroup cut their price objective on shares of Martin Marietta Materials from $804.00 to $731.00 and set a “buy” rating for the company in a report on Monday, May 4th. Wells Fargo & Company increased their price objective on shares of Martin Marietta Materials from $608.00 to $614.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. UBS Group set a $739.00 price objective on shares of Martin Marietta Materials in a report on Sunday, May 10th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $785.00 target price on shares of Martin Marietta Materials in a report on Thursday, February 26th. Eleven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Martin Marietta Materials has an average rating of “Moderate Buy” and an average price target of $689.81.

Martin Marietta Materials Trading Down 0.5%

MLM stock opened at $555.73 on Tuesday. The firm has a fifty day moving average price of $598.01 and a 200 day moving average price of $625.02. Martin Marietta Materials, Inc. has a fifty-two week low of $532.80 and a fifty-two week high of $710.97. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.11 and a current ratio of 2.28. The firm has a market cap of $33.37 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of 2.02 and a beta of 1.13.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.15. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period last year, the firm posted $1.90 earnings per share. Martin Marietta Materials’s revenue for the quarter was up 17.2% compared to the same quarter last year. Sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.32 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 1st will be issued a $0.83 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.6%. Martin Marietta Materials’s dividend payout ratio (DPR) is 7.91%.

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.