IFM Investors Pty Ltd Boosts Stock Holdings in Martin Marietta Materials, Inc. $MLM

IFM Investors Pty Ltd lifted its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 12.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,020 shares of the construction company’s stock after purchasing an additional 1,454 shares during the period. IFM Investors Pty Ltd’s holdings in Martin Marietta Materials were worth $7,665,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Optima Capital LLC acquired a new position in shares of Martin Marietta Materials during the fourth quarter worth about $25,000. KERR FINANCIAL PLANNING Corp acquired a new stake in Martin Marietta Materials in the third quarter valued at approximately $27,000. Garton & Associates Financial Advisors LLC acquired a new stake in Martin Marietta Materials in the fourth quarter valued at approximately $31,000. Reflection Asset Management purchased a new position in Martin Marietta Materials in the fourth quarter worth approximately $35,000. Finally, Union Bancaire Privee UBP SA purchased a new position in Martin Marietta Materials in the fourth quarter worth approximately $36,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock opened at $599.97 on Friday. The company has a quick ratio of 1.11, a current ratio of 2.28 and a debt-to-equity ratio of 0.47. Martin Marietta Materials, Inc. has a 52 week low of $525.38 and a 52 week high of $710.97. The firm’s 50 day moving average is $585.20 and its two-hundred day moving average is $617.03. The firm has a market capitalization of $36.03 billion, a P/E ratio of 14.30, a P/E/G ratio of 2.46 and a beta of 1.10.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the firm earned $1.90 EPS. The company’s revenue was up 17.2% compared to the same quarter last year. Research analysts forecast that Martin Marietta Materials, Inc. will post 19.38 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st were paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 0.6%. The ex-dividend date was Monday, June 1st. Martin Marietta Materials’s dividend payout ratio is currently 7.91%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on MLM shares. UBS Group set a $739.00 price objective on shares of Martin Marietta Materials in a research report on Sunday, May 10th. Oppenheimer began coverage on shares of Martin Marietta Materials in a research report on Thursday, May 28th. They set a “market perform” rating for the company. Berenberg Bank set a $556.00 target price on shares of Martin Marietta Materials and gave the stock a “hold” rating in a research note on Tuesday, June 2nd. B. Riley Financial upgraded shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 target price for the company in a research note on Thursday, April 2nd. Finally, Truist Financial increased their target price on Martin Marietta Materials from $710.00 to $730.00 and gave the company a “buy” rating in a report on Monday, May 4th. Eleven investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.