London Co. of Virginia Increases Position in Martin Marietta Materials, Inc. $MLM

London Co. of Virginia boosted its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 11.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 189,623 shares of the construction company’s stock after acquiring an additional 19,143 shares during the quarter. London Co. of Virginia owned 0.32% of Martin Marietta Materials worth $111,627,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Optima Capital LLC purchased a new position in shares of Martin Marietta Materials in the 4th quarter worth about $25,000. Meeder Asset Management Inc. raised its holdings in shares of Martin Marietta Materials by 67.9% during the 1st quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock valued at $28,000 after buying an additional 19 shares in the last quarter. Garton & Associates Financial Advisors LLC purchased a new position in shares of Martin Marietta Materials during the 4th quarter valued at about $31,000. Reflection Asset Management bought a new stake in Martin Marietta Materials in the 4th quarter worth approximately $35,000. Finally, Quarry LP bought a new stake in Martin Marietta Materials in the 3rd quarter worth approximately $38,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on MLM. Barclays reduced their price target on shares of Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 31st. Zacks Research upgraded shares of Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. UBS Group set a $739.00 price objective on shares of Martin Marietta Materials in a research note on Sunday, May 10th. Weiss Ratings raised shares of Martin Marietta Materials from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, June 25th. Finally, Morgan Stanley decreased their target price on shares of Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating on the stock in a research report on Monday, April 6th. Eleven equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Martin Marietta Materials currently has an average rating of “Moderate Buy” and a consensus price target of $681.53.

Martin Marietta Materials Price Performance

MLM opened at $560.71 on Friday. The stock’s 50 day simple moving average is $575.98 and its 200 day simple moving average is $610.19. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.28 and a quick ratio of 1.11. Martin Marietta Materials, Inc. has a 1 year low of $525.38 and a 1 year high of $710.97. The firm has a market cap of $33.67 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 2.37 and a beta of 1.10.

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

Martin Marietta Materials Announces Dividend

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