Northwestern Mutual Wealth Management Co. Buys New Stake in Martin Marietta Materials, Inc. $MLM

Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,020 shares of the construction company’s stock, valued at approximately $588,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MLM. Meeder Asset Management Inc. boosted its position in Martin Marietta Materials by 67.9% during the first quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock worth $28,000 after purchasing an additional 19 shares in the last quarter. CoreCap Advisors LLC grew its stake in Martin Marietta Materials by 370.0% in the 2nd quarter. CoreCap Advisors LLC now owns 47 shares of the construction company’s stock valued at $27,000 after acquiring an additional 37 shares during the period. Garton & Associates Financial Advisors LLC purchased a new stake in Martin Marietta Materials in the 4th quarter worth $31,000. Reflection Asset Management acquired a new position in Martin Marietta Materials during the fourth quarter worth $35,000. Finally, Quarry LP purchased a new position in Martin Marietta Materials during the third quarter valued at $38,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

NYSE:MLM opened at $532.74 on Thursday. Martin Marietta Materials, Inc. has a one year low of $522.19 and a one year high of $710.97. The stock has a market cap of $32.00 billion, a PE ratio of 13.09, a P/E/G ratio of 2.30 and a beta of 1.11. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.73 and a current ratio of 1.41. The stock has a 50 day moving average price of $565.99 and a 200 day moving average price of $592.76.

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 analysts’ consensus estimates of $4.76 by $0.24. Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%.The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the company posted $5.43 earnings per share. The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year. Equities research analysts expect that Martin Marietta Materials, Inc. will post 19.07 EPS for the current fiscal 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 issued a $0.84 dividend. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.83. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 1st. Martin Marietta Materials’s payout ratio is currently 8.16%.

Analyst Ratings Changes

Several research analysts recently weighed in on MLM shares. Wolfe Research set a $648.00 price target on shares of Martin Marietta Materials in a research report on Tuesday, August 4th. Citigroup lowered their price objective on Martin Marietta Materials from $737.00 to $690.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. Royal Bank Of Canada cut their price objective on Martin Marietta Materials from $615.00 to $610.00 and set a “sector perform” rating for the company in a research note on Monday, August 3rd. Wells Fargo & Company decreased their target price on Martin Marietta Materials from $616.00 to $581.00 and set an “equal weight” rating on the stock in a research report on Friday, July 31st. Finally, Oppenheimer started coverage on Martin Marietta Materials in a research note on Thursday, May 28th. They issued a “market perform” rating on the stock. Ten equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, Martin Marietta Materials presently has an average rating of “Moderate Buy” and a consensus price target of $665.29.

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.