Saudi Central Bank Raises Stock Position in Martin Marietta Materials, Inc. $MLM

Saudi Central Bank lifted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 89.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,218 shares of the construction company’s stock after buying an additional 1,992 shares during the period. Saudi Central Bank’s holdings in Martin Marietta Materials were worth $2,433,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MLM. Integrated Wealth Concepts LLC increased its stake in Martin Marietta Materials by 6.6% during the first quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company’s stock worth $379,000 after acquiring an additional 49 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Martin Marietta Materials by 11.4% in the 1st quarter. Empowered Funds LLC now owns 1,408 shares of the construction company’s stock valued at $673,000 after purchasing an additional 144 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of Martin Marietta Materials by 11.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 510 shares of the construction company’s stock worth $280,000 after purchasing an additional 51 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Martin Marietta Materials by 205.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 260 shares of the construction company’s stock worth $143,000 after purchasing an additional 175 shares during the period. Finally, Cresset Asset Management LLC boosted its holdings in shares of Martin Marietta Materials by 22.6% in the 2nd quarter. Cresset Asset Management LLC now owns 777 shares of the construction company’s stock worth $427,000 after purchasing an additional 143 shares during the period. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Trading Up 0.3%

Shares of MLM opened at $516.12 on Tuesday. The firm has a market capitalization of $31.00 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 2.22 and a beta of 1.10. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.41 and a quick ratio of 0.73. Martin Marietta Materials, Inc. has a 1-year low of $502.56 and a 1-year high of $710.97. The company has a 50-day moving average of $551.37 and a 200 day moving average of $583.61.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Thursday, July 30th. The construction company reported $5.00 EPS for the quarter, topping analysts’ consensus estimates of $4.76 by $0.24. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.87 billion. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. The company’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.43 EPS. On average, research analysts expect that Martin Marietta Materials, Inc. will post 19.07 EPS for the current year.

Martin Marietta Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.7%. The ex-dividend date is Tuesday, September 1st. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.83. Martin Marietta Materials’s dividend payout ratio (DPR) is 8.26%.

Analyst Ratings Changes

Several research firms recently weighed in on MLM. Wells Fargo & Company decreased their price target on Martin Marietta Materials from $616.00 to $581.00 and set an “equal weight” rating on the stock in a report on Friday, July 31st. Raymond James Financial set a $660.00 price objective on shares of Martin Marietta Materials in a research note on Friday, July 31st. Citigroup cut their price objective on shares of Martin Marietta Materials from $737.00 to $690.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Oppenheimer started coverage on shares of Martin Marietta Materials in a research note on Thursday, May 28th. They issued a “market perform” rating on the stock. Finally, Wolfe Research set a $648.00 target price on shares of Martin Marietta Materials in a report on Tuesday, August 4th. Eleven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $665.88.

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.