Worthington Financial Partners LLC Makes New Investment in Martin Marietta Materials, Inc. $MLM

Worthington Financial Partners LLC acquired a new position in Martin Marietta Materials, Inc. (NYSE:MLM) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,553 shares of the construction company’s stock, valued at approximately $967,000.

A number of other large investors have also recently made changes to their positions in the stock. Victory Capital Management Inc. grew its stake in shares of Martin Marietta Materials by 51.8% during the 4th quarter. Victory Capital Management Inc. now owns 2,448,928 shares of the construction company’s stock valued at $1,524,853,000 after acquiring an additional 836,120 shares during the period. Norges Bank purchased a new stake in Martin Marietta Materials in the 4th quarter worth approximately $354,681,000. Bank of America Corp DE raised its stake in Martin Marietta Materials by 31.9% during the 2nd quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock worth $1,284,938,000 after acquiring an additional 565,856 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Martin Marietta Materials by 241.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 303,031 shares of the construction company’s stock worth $188,686,000 after acquiring an additional 214,270 shares during the period. Finally, Interval Partners LP purchased a new position in Martin Marietta Materials during the fourth quarter valued at approximately $128,996,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MLM. Citigroup dropped their price target on shares of Martin Marietta Materials from $804.00 to $731.00 and set a “buy” rating for the company in a research report on Monday, May 4th. Berenberg Bank set a $556.00 price objective on shares of Martin Marietta Materials and gave the company a “hold” rating in a research report on Tuesday, June 2nd. Wells Fargo & Company lifted their target price on shares of Martin Marietta Materials from $608.00 to $614.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Raymond James Financial set a $690.00 target price on shares of Martin Marietta Materials in a report on Monday, April 27th. Finally, B. Riley Financial raised shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 target price for the company in a report on Thursday, April 2nd. Ten investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, Martin Marietta Materials has an average rating of “Moderate Buy” and a consensus target price of $681.94.

Martin Marietta Materials Stock Up 0.0%

Shares of MLM opened at $609.20 on Friday. The business’s 50 day moving average is $589.25 and its 200 day moving average is $618.24. The company has a current ratio of 2.28, a quick ratio of 1.11 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 capitalization of $36.58 billion, a PE ratio of 14.52, a price-to-earnings-growth ratio of 2.58 and a beta of 1.10.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly 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 business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the prior year, the company posted $1.90 EPS. The firm’s revenue for the quarter was up 17.2% compared to the same quarter last year. Research 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, June 1st. Martin Marietta Materials’s payout ratio is 7.91%.

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.