Myriad Asset Management Advisors LLC Makes New Investment in Martin Marietta Materials, Inc. $MLM

Myriad Asset Management Advisors LLC bought a new position in Martin Marietta Materials, Inc. (NYSE:MLM) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,404 shares of the construction company’s stock, valued at approximately $3,365,000. Martin Marietta Materials accounts for about 1.0% of Myriad Asset Management Advisors LLC’s investment portfolio, making the stock its 25th largest holding.

A number of other institutional investors have also recently added to or reduced their stakes in MLM. Norges Bank acquired a new stake in Martin Marietta Materials in the fourth quarter worth approximately $354,681,000. Bank of America Corp DE lifted its position in Martin Marietta Materials by 31.9% in the second quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock worth $1,284,938,000 after purchasing an additional 565,856 shares during the period. Millennium Management LLC lifted its position in Martin Marietta Materials by 1,570.3% in the third quarter. Millennium Management LLC now owns 108,167 shares of the construction company’s stock worth $68,175,000 after purchasing an additional 115,524 shares during the period. Freestone Grove Partners LP lifted its position in Martin Marietta Materials by 748.5% in the third quarter. Freestone Grove Partners LP now owns 124,963 shares of the construction company’s stock worth $78,762,000 after purchasing an additional 110,236 shares during the period. Finally, Vanguard Group Inc. lifted its position in Martin Marietta Materials by 1.3% in the third quarter. Vanguard Group Inc. now owns 7,442,945 shares of the construction company’s stock worth $4,691,139,000 after purchasing an additional 93,595 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $553.97 on Thursday. The company’s fifty day moving average is $590.42 and its two-hundred day moving average is $619.45. The company has a quick ratio of 1.11, a current ratio of 2.28 and a debt-to-equity ratio of 0.47. Martin Marietta Materials, Inc. has a 12-month low of $525.38 and a 12-month high of $710.97. The company has a market cap of $33.27 billion, a P/E ratio of 13.20, a price-to-earnings-growth ratio of 2.43 and a beta of 1.10.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the business earned $1.90 EPS. The company’s revenue was up 17.2% on a year-over-year basis. Equities analysts expect 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 announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, June 1st. Martin Marietta Materials’s payout ratio is 7.91%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Wall Street Zen downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Morgan Stanley cut their price objective on Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating for the company in a research report on Monday, April 6th. Zacks Research upgraded Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. B. Riley Financial upgraded Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 price objective for the company in a research report on Thursday, April 2nd. Finally, Weiss Ratings downgraded Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday. Ten research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $681.94.

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.