Whittier Trust Co. Boosts Holdings in Martin Marietta Materials, Inc. $MLM

Whittier Trust Co. boosted its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 8.4% in the first quarter, HoldingsChannel.com reports. The fund owned 21,748 shares of the construction company’s stock after buying an additional 1,680 shares during the quarter. Whittier Trust Co.’s holdings in Martin Marietta Materials were worth $13,016,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ascentis Independent Advisors purchased a new position in shares of Martin Marietta Materials during the 1st quarter worth approximately $69,000. Stephens Inc. AR raised its position in shares of Martin Marietta Materials by 9.3% during the 1st quarter. Stephens Inc. AR now owns 56,111 shares of the construction company’s stock worth $33,031,000 after purchasing an additional 4,785 shares during the last quarter. NBT Bank N A NY lifted its stake in Martin Marietta Materials by 5.8% in the 1st quarter. NBT Bank N A NY now owns 915 shares of the construction company’s stock valued at $539,000 after buying an additional 50 shares in the last quarter. Canal Capital Management LLC lifted its stake in Martin Marietta Materials by 6.3% in the 1st quarter. Canal Capital Management LLC now owns 8,534 shares of the construction company’s stock valued at $5,024,000 after buying an additional 507 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC grew its holdings in Martin Marietta Materials by 12.5% during the 1st quarter. Turtle Creek Wealth Advisors LLC now owns 14,558 shares of the construction company’s stock valued at $8,570,000 after buying an additional 1,615 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MLM shares. Wall Street Zen raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Saturday. Morgan Stanley decreased their price objective 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. Royal Bank Of Canada cut their target price on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “sector perform” rating for the company in a research note on Monday, May 4th. Berenberg Bank set a $556.00 target price on shares of Martin Marietta Materials and gave the company a “hold” rating in a report on Tuesday, June 2nd. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Martin Marietta Materials in a research note on Monday, June 29th. Eleven research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and an average price target of $681.94.

Martin Marietta Materials Stock Performance

NYSE MLM opened at $599.97 on Monday. The business’s 50-day moving average price is $584.98 and its 200 day moving average price is $616.79. The company has a current ratio of 2.28, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. Martin Marietta Materials, Inc. has a twelve month low of $525.38 and a twelve month high of $710.97. The company has a market capitalization of $36.03 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 2.55 and a beta of 1.10.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 EPS 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 company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the company posted $1.90 EPS. The company’s quarterly revenue was up 17.2% compared to the same quarter last year. On average, research analysts predict that Martin Marietta Materials, Inc. will post 19.38 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st were paid a dividend of $0.83 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 7.91%.

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.