Great Lakes Advisors LLC Takes $115.52 Million Position in Martin Marietta Materials, Inc. $MLM

Great Lakes Advisors LLC purchased a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 200,313 shares of the construction company’s stock, valued at approximately $115,521,000.

Other hedge funds have also made changes to their positions in the company. Danske Bank A S bought a new position in shares of Martin Marietta Materials in the second quarter valued at approximately $15,685,000. Wealthfront Advisers LLC bought a new stake in shares of Martin Marietta Materials during the second quarter valued at approximately $3,291,000. M.D. Sass LLC acquired a new stake in shares of Martin Marietta Materials in the second quarter valued at approximately $62,002,000. Meeder Advisory Services Inc. bought a new position in Martin Marietta Materials in the 2nd quarter worth approximately $1,297,000. Finally, Meeder Asset Management Inc. acquired a new position in Martin Marietta Materials during the 2nd quarter worth $34,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $524.52 on Wednesday. The stock has a market cap of $31.51 billion, a PE ratio of 12.89, a price-to-earnings-growth ratio of 2.37 and a beta of 1.11. The stock has a 50-day moving average of $571.62 and a 200-day moving average of $598.17. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.41 and a quick ratio of 0.73. Martin Marietta Materials, Inc. has a one year low of $522.19 and a one year high of $710.97.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Thursday, July 30th. The construction company reported $5.00 earnings per share for the quarter, topping the consensus estimate of $4.76 by $0.24. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter last year, the firm earned $5.43 EPS. Martin Marietta Materials’s quarterly revenue was up 21.0% compared to the same quarter last year. As a group, sell-side analysts expect that Martin Marietta Materials, Inc. will post 19.07 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st will be given a $0.84 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.6%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.83. Martin Marietta Materials’s dividend payout ratio is currently 8.16%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on MLM shares. UBS Group lowered their target price on Martin Marietta Materials from $739.00 to $715.00 and set a “buy” rating for the company in a research note on Monday, August 3rd. Stephens decreased their price target on Martin Marietta Materials from $700.00 to $680.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. Raymond James Financial set a $660.00 price objective on Martin Marietta Materials in a research report on Friday, July 31st. JPMorgan Chase & Co. dropped their price objective on Martin Marietta Materials from $700.00 to $680.00 and set a “neutral” rating for the company in a report on Friday, July 31st. Finally, Wall Street Zen downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Tuesday, July 28th. Ten equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $668.53.

About Martin Marietta Materials

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.