Townsquare Capital LLC Boosts Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Townsquare Capital LLC raised its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 16.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,650 shares of the construction company’s stock after buying an additional 511 shares during the quarter. Townsquare Capital LLC’s holdings in Martin Marietta Materials were worth $1,965,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of MLM. Newbridge Financial Services Group Inc. grew its stake in Martin Marietta Materials by 411.1% during the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock valued at $25,000 after acquiring an additional 37 shares in the last quarter. Asset Dedication LLC increased its holdings in shares of Martin Marietta Materials by 1,300.0% in the third quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock worth $30,000 after purchasing an additional 52 shares during the last quarter. First Personal Financial Services purchased a new stake in shares of Martin Marietta Materials in the third quarter worth about $33,000. Fortitude Family Office LLC boosted its stake in Martin Marietta Materials by 186.4% during the second quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock valued at $34,000 after buying an additional 41 shares during the last quarter. Finally, Rothschild Investment LLC purchased a new position in Martin Marietta Materials during the 2nd quarter valued at approximately $43,000. Institutional investors own 95.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MLM shares. Citigroup lowered their target price on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Morgan Stanley lifted their price objective on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Truist Financial decreased their target price on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. UBS Group started coverage on Martin Marietta Materials in a research report on Thursday, November 7th. They issued a “buy” rating and a $730.00 price target for the company. Finally, Stephens decreased their price objective on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $644.46.

Martin Marietta Materials Price Performance

MLM opened at $600.00 on Monday. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. The business has a fifty day moving average of $571.19 and a 200 day moving average of $555.83. Martin Marietta Materials, Inc. has a 52-week low of $456.83 and a 52-week high of $633.23. The stock has a market cap of $36.67 billion, a P/E ratio of 18.70, a PEG ratio of 4.07 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the company posted $6.94 earnings per share. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 17.58 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio is presently 9.85%.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.