TimesSquare Capital Management LLC Cuts Stake in Martin Marietta Materials, Inc. $MLM

TimesSquare Capital Management LLC cut its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 4.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,445 shares of the construction company’s stock after selling 4,485 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Martin Marietta Materials were worth $58,983,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Atika Capital Management LLC raised its stake in Martin Marietta Materials by 18.1% in the 1st quarter. Atika Capital Management LLC now owns 55,633 shares of the construction company’s stock valued at $26,600,000 after purchasing an additional 8,533 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new stake in shares of Martin Marietta Materials during the second quarter worth $497,000. Janney Montgomery Scott LLC raised its position in shares of Martin Marietta Materials by 0.3% in the second quarter. Janney Montgomery Scott LLC now owns 9,576 shares of the construction company’s stock valued at $5,257,000 after buying an additional 33 shares during the last quarter. Fenimore Asset Management Inc lifted its stake in shares of Martin Marietta Materials by 6.0% in the second quarter. Fenimore Asset Management Inc now owns 88,850 shares of the construction company’s stock worth $48,775,000 after buying an additional 5,010 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in shares of Martin Marietta Materials by 16.5% in the second quarter. Farther Finance Advisors LLC now owns 493 shares of the construction company’s stock worth $270,000 after buying an additional 70 shares in the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials Trading Up 0.6%

MLM opened at $620.68 on Wednesday. Martin Marietta Materials, Inc. has a one year low of $441.95 and a one year high of $665.18. The stock has a market capitalization of $37.43 billion, a PE ratio of 34.42, a P/E/G ratio of 5.57 and a beta of 1.06. The business’s 50 day moving average price is $621.80 and its 200 day moving average price is $585.75. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.21 and a current ratio of 2.35.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Tuesday, November 4th. The construction company reported $5.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.62 by ($0.65). Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%.The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $2.06 billion. Martin Marietta Materials has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd were issued a $0.83 dividend. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.79. The ex-dividend date was Tuesday, September 2nd. This represents a $3.32 annualized dividend and a yield of 0.5%. Martin Marietta Materials’s payout ratio is presently 17.50%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MLM shares. Bank of America upped their price objective on shares of Martin Marietta Materials from $577.00 to $643.00 and gave the company a “neutral” rating in a research note on Tuesday, August 5th. UBS Group upped their price target on Martin Marietta Materials from $705.00 to $723.00 and gave the company a “buy” rating in a research report on Friday. JPMorgan Chase & Co. increased their price target on Martin Marietta Materials from $670.00 to $700.00 and gave the company a “neutral” rating in a report on Tuesday. Royal Bank Of Canada reiterated a “sector perform” rating and set a $525.00 price objective (up previously from $515.00) on shares of Martin Marietta Materials in a research report on Friday, August 8th. Finally, DA Davidson set a $690.00 target price on Martin Marietta Materials in a report on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Martin Marietta Materials has an average rating of “Moderate Buy” and an average target price of $644.38.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.