Bradley Foster & Sargent Inc. CT Invests $5.23 Million in Martin Marietta Materials, Inc. $MLM

Bradley Foster & Sargent Inc. CT purchased a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) in the first quarter, Holdings Channel reports. The institutional investor purchased 8,888 shares of the construction company’s stock, valued at approximately $5,232,000.

Other hedge funds also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its position in Martin Marietta Materials by 14,332.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the construction company’s stock worth $48,438,000 after purchasing an additional 77,253 shares during the last quarter. SG Americas Securities LLC raised its holdings in Martin Marietta Materials by 66.7% during the 4th quarter. SG Americas Securities LLC now owns 9,316 shares of the construction company’s stock worth $5,801,000 after purchasing an additional 3,728 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Martin Marietta Materials by 17.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,753 shares of the construction company’s stock worth $7,318,000 after purchasing an additional 1,778 shares during the period. Victory Capital Management Inc. lifted its position in shares of Martin Marietta Materials by 51.8% in the 4th quarter. Victory Capital Management Inc. now owns 2,448,928 shares of the construction company’s stock worth $1,524,853,000 after purchasing an additional 836,120 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Martin Marietta Materials by 4.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 126,524 shares of the construction company’s stock valued at $80,272,000 after purchasing an additional 5,227 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on MLM. Truist Financial increased their price objective on shares of Martin Marietta Materials from $710.00 to $730.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Zacks Research upgraded shares of Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Royal Bank Of Canada cut their price target on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “sector perform” rating on the stock in a research report on Monday, May 4th. Wall Street Zen upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Monday, July 20th. Finally, Oppenheimer began coverage on Martin Marietta Materials in a research report on Thursday, May 28th. They issued a “market perform” rating for the company. Eleven equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $681.53.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $560.71 on Monday. The company has a market cap of $33.67 billion, a price-to-earnings ratio of 13.36, a price-to-earnings-growth ratio of 2.37 and a beta of 1.10. Martin Marietta Materials, Inc. has a 52 week low of $525.38 and a 52 week high of $710.97. The company has a quick ratio of 1.11, a current ratio of 2.28 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average of $575.98 and a 200-day moving average of $609.96.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, beating 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 company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the business posted $1.90 EPS. Martin Marietta Materials’s revenue for the quarter was up 17.2% compared to the same quarter last year. On average, equities analysts forecast that Martin Marietta Materials, Inc. will post 19.43 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The business also recently declared 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 of this dividend was Monday, June 1st. Martin Marietta Materials’s payout ratio is 7.91%.

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.