RDST Capital LLC Trims Stock Position in Martin Marietta Materials, Inc. $MLM

RDST Capital LLC lessened its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 6.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,095 shares of the construction company’s stock after selling 6,405 shares during the period. Martin Marietta Materials accounts for approximately 5.4% of RDST Capital LLC’s portfolio, making the stock its 11th largest position. RDST Capital LLC owned approximately 0.16% of Martin Marietta Materials worth $55,981,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Empowered Funds LLC grew its position in Martin Marietta Materials by 27.1% during the 1st quarter. Empowered Funds LLC now owns 2,835 shares of the construction company’s stock worth $1,669,000 after purchasing an additional 604 shares during the last quarter. Quantinno Capital Management LP raised its position in Martin Marietta Materials by 42.5% during the 1st quarter. Quantinno Capital Management LP now owns 57,256 shares of the construction company’s stock worth $33,706,000 after buying an additional 17,073 shares during the last quarter. Lazard Asset Management LLC lifted its stake in shares of Martin Marietta Materials by 6.3% in the 1st quarter. Lazard Asset Management LLC now owns 16,881 shares of the construction company’s stock worth $9,938,000 after acquiring an additional 1,003 shares during the period. Gateway Wealth Partners LLC acquired a new stake in Martin Marietta Materials in the first quarter valued at about $367,000. Finally, OMERS ADMINISTRATION Corp increased its position in Martin Marietta Materials by 131.6% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 5,117 shares of the construction company’s stock worth $3,012,000 after purchasing an additional 2,908 shares during the period. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Trading Up 2.1%

NYSE:MLM opened at $583.97 on Wednesday. The business’s 50-day moving average is $577.34 and its two-hundred day moving average is $609.16. The firm has a market capitalization of $35.07 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 2.43 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. 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 (NYSE:MLM) last issued its earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, topping the consensus estimate 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 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 business earned $1.90 earnings per share. The company’s revenue was up 17.2% compared to the same quarter last year. Research analysts predict that Martin Marietta Materials, Inc. will post 19.43 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MLM shares. Raymond James Financial dropped their price objective on Martin Marietta Materials from $690.00 to $675.00 and set an “outperform” rating on the stock in a report on Wednesday, July 15th. Barclays dropped their price objective on shares of Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating for the company in a research note on Tuesday, March 31st. Berenberg Bank set a $556.00 price objective on Martin Marietta Materials and gave the stock a “hold” rating in a research report on Tuesday, June 2nd. Weiss Ratings upgraded Martin Marietta Materials from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, June 25th. Finally, Truist Financial upped their price objective on shares of Martin Marietta Materials from $710.00 to $730.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Eleven equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, Martin Marietta Materials presently has an average rating of “Moderate Buy” and a consensus target price of $681.53.

About Martin Marietta Materials

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.