Harvey Partners LLC Raises Holdings in Martin Marietta Materials, Inc. $MLM

Harvey Partners LLC lifted its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 6.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,100 shares of the construction company’s stock after purchasing an additional 3,170 shares during the quarter. Martin Marietta Materials comprises about 2.9% of Harvey Partners LLC’s investment portfolio, making the stock its 15th biggest position. Harvey Partners LLC owned about 0.08% of Martin Marietta Materials worth $32,207,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC raised its holdings in shares of Martin Marietta Materials by 6.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company’s stock worth $379,000 after acquiring an additional 49 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Martin Marietta Materials by 11.4% in the first 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 in the last quarter. Sivia Capital Partners LLC increased its position in Martin Marietta Materials by 11.1% in the second 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 last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Martin Marietta Materials by 73.2% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 781 shares of the construction company’s stock worth $429,000 after purchasing an additional 330 shares during the last quarter. Finally, Vise Technologies Inc. purchased a new stake in Martin Marietta Materials during the second quarter valued at $391,000. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Stock Performance

Shares of NYSE:MLM opened at $584.08 on Monday. The company has a current ratio of 3.57, a quick ratio of 2.36 and a debt-to-equity ratio of 0.53. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $710.97. The company has a market capitalization of $35.23 billion, a price-to-earnings ratio of 31.07, a PEG ratio of 2.30 and a beta of 1.13. The firm’s 50-day moving average is $654.23 and its 200 day moving average is $632.73.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, February 11th. The construction company reported $4.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($0.19). The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.66 billion. Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the business earned $4.79 EPS. Research analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 2nd will be paid a $0.83 dividend. The ex-dividend date is Monday, March 2nd. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 17.66%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. DA Davidson set a $680.00 price objective on shares of Martin Marietta Materials in a research report on Thursday, February 12th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $785.00 price target on shares of Martin Marietta Materials in a report on Thursday, February 26th. Weiss Ratings cut Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, February 23rd. Stephens lowered their price objective on Martin Marietta Materials from $740.00 to $735.00 and set an “overweight” rating for the company in a research note on Friday, February 13th. Finally, Citigroup lifted their target price on Martin Marietta Materials from $780.00 to $804.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Eight analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $696.88.

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.