19,533 Shares in Martin Marietta Materials, Inc. $MLM Acquired by Marsico Capital Management LLC

Marsico Capital Management LLC purchased a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 19,533 shares of the construction company’s stock, valued at approximately $12,162,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Optima Capital LLC purchased a new position in Martin Marietta Materials during the 4th quarter worth approximately $25,000. KERR FINANCIAL PLANNING Corp purchased a new position in Martin Marietta Materials during the 3rd quarter worth approximately $27,000. Redmont Wealth Advisors LLC purchased a new position in Martin Marietta Materials during the 3rd quarter worth approximately $32,000. Union Bancaire Privee UBP SA purchased a new position in Martin Marietta Materials during the 4th quarter worth approximately $36,000. Finally, Quarry LP purchased a new position in Martin Marietta Materials during the 3rd quarter worth approximately $38,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MLM. Citigroup lowered their target price on Martin Marietta Materials from $804.00 to $731.00 and set a “buy” rating on the stock in a research note on Monday, May 4th. Morgan Stanley lowered their target price on Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating on the stock in a research note on Monday, April 6th. Weiss Ratings downgraded Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. Wells Fargo & Company lifted their target price on Martin Marietta Materials from $608.00 to $614.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Finally, B. Riley Financial upgraded Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 target price on the stock in a research note on Thursday, April 2nd. Ten analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $681.94.

Martin Marietta Materials Stock Up 2.3%

MLM opened at $565.58 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 business has a 50 day simple moving average of $589.95 and a 200-day simple moving average of $619.18. The stock has a market capitalization of $33.96 billion, a P/E ratio of 13.48, a P/E/G ratio of 2.35 and a beta of 1.10. Martin Marietta Materials, Inc. has a 12 month low of $525.38 and a 12 month high of $710.97.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Thursday, April 30th. The construction company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.78 by $0.15. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.The company’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same period last year, the firm earned $1.90 EPS. On average, equities analysts anticipate that Martin Marietta Materials, Inc. will post 19.41 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 1st will be issued a dividend of $0.83 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.32 annualized dividend and a yield of 0.6%. Martin Marietta Materials’s payout ratio is currently 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.