Tobam Acquires 1,086 Shares of Martin Marietta Materials, Inc. $MLM

Tobam lifted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 1,262.8% during the 4th quarter, HoldingsChannel reports. The fund owned 1,172 shares of the construction company’s stock after acquiring an additional 1,086 shares during the quarter. Tobam’s holdings in Martin Marietta Materials were worth $730,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of MLM. Integrated Wealth Concepts LLC raised its stake in Martin Marietta Materials by 6.6% in the 1st quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company’s stock worth $379,000 after purchasing an additional 49 shares in the last quarter. Empowered Funds LLC grew its position in shares of Martin Marietta Materials by 11.4% during the 1st quarter. Empowered Funds LLC now owns 1,408 shares of the construction company’s stock worth $673,000 after purchasing an additional 144 shares in the last quarter. Sivia Capital Partners LLC grew its position in shares of Martin Marietta Materials by 11.1% during 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 in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Martin Marietta Materials by 205.9% during the second 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 increased its holdings in shares of Martin Marietta Materials by 22.6% during the second 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 owned by institutional investors.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $609.20 on Friday. The firm has a 50 day moving average of $589.25 and a 200-day moving average of $618.24. Martin Marietta Materials, Inc. has a 12 month low of $525.38 and a 12 month high of $710.97. The company has a current ratio of 2.28, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $36.58 billion, a PE ratio of 14.52, a PEG 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 (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.15. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.31 billion. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The firm’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter last year, the business posted $1.90 EPS. On average, equities research analysts predict that Martin Marietta Materials, Inc. will post 19.41 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm 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. The ex-dividend date is Monday, June 1st. This represents a $3.32 annualized dividend and a yield of 0.5%. Martin Marietta Materials’s dividend payout ratio is presently 7.91%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MLM shares. Barclays cut their price target on Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating for the company in a research note on Tuesday, March 31st. Citigroup lowered their price objective on Martin Marietta Materials from $804.00 to $731.00 and set a “buy” rating on the stock in a research note on Monday, May 4th. Weiss Ratings cut Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, June 8th. UBS Group set a $739.00 target price on Martin Marietta Materials in a research report on Sunday, May 10th. Finally, Berenberg Bank set a $556.00 target price on Martin Marietta Materials and gave the stock a “hold” rating in a report on Tuesday, June 2nd. Ten research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently 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.