Rockefeller Capital Management L.P. Has $8.96 Million Position in Martin Marietta Materials, Inc. $MLM

Rockefeller Capital Management L.P. boosted its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 32.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,382 shares of the construction company’s stock after buying an additional 3,554 shares during the period. Rockefeller Capital Management L.P.’s holdings in Martin Marietta Materials were worth $8,955,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in MLM. Osbon Capital Management LLC bought a new stake in shares of Martin Marietta Materials during the fourth quarter worth about $85,000. Worthington Financial Partners LLC bought a new position in Martin Marietta Materials in the 4th quarter valued at about $967,000. Reflection Asset Management acquired a new position in Martin Marietta Materials during the 4th quarter valued at about $35,000. Tobam boosted its stake in Martin Marietta Materials by 1,262.8% during the 4th quarter. Tobam now owns 1,172 shares of the construction company’s stock valued at $730,000 after purchasing an additional 1,086 shares during the last quarter. Finally, MV Capital Management Inc. acquired a new position in Martin Marietta Materials during the 4th quarter valued at about $49,000. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Stock Performance

NYSE MLM opened at $628.56 on Friday. The company has a market capitalization of $37.74 billion, a PE ratio of 14.98, a price-to-earnings-growth ratio of 2.62 and a beta of 1.10. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.11 and a current ratio of 2.28. Martin Marietta Materials, Inc. has a 52-week low of $525.38 and a 52-week high of $710.97. The company has a 50-day simple moving average of $588.02 and a 200 day simple moving average of $618.21.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.15. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the company earned $1.90 earnings per share. The company’s quarterly revenue was up 17.2% on a year-over-year basis. On average, research analysts predict that Martin Marietta Materials, Inc. will post 19.41 EPS for the current year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, June 1st. Martin Marietta Materials’s dividend payout ratio is 7.91%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Barclays lowered their price objective 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. UBS Group set a $739.00 target price on Martin Marietta Materials in a research report on Sunday, May 10th. Morgan Stanley decreased their price target on Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating for the company in a report on Monday, April 6th. Truist Financial increased their price target on Martin Marietta Materials from $710.00 to $730.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Finally, Jefferies Financial Group restated a “buy” rating and set a $785.00 price objective on shares of Martin Marietta Materials in a research note on Thursday, February 26th. Ten equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $681.94.

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.