Magnolia Group LLC Acquires 9,200 Shares of Martin Marietta Materials, Inc. $MLM

Magnolia Group LLC acquired a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,200 shares of the construction company’s stock, valued at approximately $4,414,000. Martin Marietta Materials makes up about 1.5% of Magnolia Group LLC’s investment portfolio, making the stock its 12th biggest position.

Several other institutional investors have also recently modified their holdings of MLM. BlackRock Inc. purchased a new stake in Martin Marietta Materials in the second quarter worth approximately $2,706,134,000. Bank of America Corp DE purchased a new stake in Martin Marietta Materials during the second quarter valued at about $1,411,047,000. Bank of New York Mellon Corp bought a new position in Martin Marietta Materials during the 2nd quarter worth approximately $199,321,000. Legal & General Group Plc purchased a new position in Martin Marietta Materials in the 2nd quarter worth approximately $143,897,000. Finally, Deutsche Bank AG bought a new stake in Martin Marietta Materials in the second quarter valued at approximately $130,292,000. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Price Performance

MLM stock opened at $523.55 on Thursday. Martin Marietta Materials, Inc. has a 1 year low of $464.92 and a 1 year high of $710.97. The company has a market cap of $37.23 billion, a P/E ratio of 13.85, a PEG ratio of 2.91 and a beta of 1.02. The firm has a 50-day moving average of $503.56 and a 200 day moving average of $571.62. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.63 and a quick ratio of 0.91.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Wednesday, November 4th. The construction company reported $5.47 earnings per share for the quarter, missing analysts’ consensus estimates of $5.99 by ($0.52). The firm had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Martin Marietta Materials had a return on equity of 7.96% and a net margin of 31.88%. The firm’s revenue was up 28.3% on a year-over-year basis. During the same quarter last year, the company posted $6.85 EPS. On average, sell-side analysts forecast that Martin Marietta Materials, Inc. will post 15.36 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on MLM shares. Wolfe Research set a $648.00 price target on shares of Martin Marietta Materials in a report on Tuesday, August 4th. Raymond James Financial reissued an “outperform” rating and set a $620.00 price target on shares of Martin Marietta Materials in a research report on Friday, November 6th. DA Davidson raised shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $610.00 price target on the stock in a report on Friday, October 16th. B. Riley Financial decreased their price objective on shares of Martin Marietta Materials from $700.00 to $615.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Weiss Ratings cut shares of Martin Marietta Materials from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, September 3rd. Fifteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $635.85.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc. is a U.S.-based supplier of building materials used in construction and infrastructure projects. Its products include crushed stone, sand and gravel, cement, ready-mixed concrete and asphalt. The company also produces specialty products through its magnesia-based business, including lime, chemicals and products used in industrial and environmental applications. Its construction materials operations serve markets across the United States. Martin Marietta traces its roots to 1939 and has grown through acquisitions and expansion of its materials operations.