Turtle Creek Wealth Advisors LLC Raises Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Turtle Creek Wealth Advisors LLC raised its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 2.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,964 shares of the construction company’s stock after purchasing an additional 201 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in Martin Marietta Materials were worth $4,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Natixis Advisors LLC grew its stake in shares of Martin Marietta Materials by 4.9% during the third quarter. Natixis Advisors LLC now owns 97,554 shares of the construction company’s stock valued at $52,508,000 after buying an additional 4,513 shares during the last quarter. Mizuho Securities USA LLC grew its stake in shares of Martin Marietta Materials by 197.5% during the third quarter. Mizuho Securities USA LLC now owns 14,152 shares of the construction company’s stock valued at $7,617,000 after buying an additional 9,395 shares during the last quarter. Empirical Finance LLC grew its stake in shares of Martin Marietta Materials by 2.0% during the third quarter. Empirical Finance LLC now owns 2,145 shares of the construction company’s stock valued at $1,155,000 after buying an additional 43 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Martin Marietta Materials by 4.5% during the third quarter. CIBC Asset Management Inc now owns 17,484 shares of the construction company’s stock valued at $9,411,000 after buying an additional 757 shares during the last quarter. Finally, ING Groep NV bought a new position in shares of Martin Marietta Materials during the third quarter valued at approximately $1,601,000. Institutional investors own 95.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Stephens cut their target price on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Loop Capital increased their price objective on Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. StockNews.com raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. dropped their price objective on Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Finally, Truist Financial dropped their price objective on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Martin Marietta Materials currently has an average rating of “Moderate Buy” and a consensus target price of $634.85.

Martin Marietta Materials Stock Down 0.8 %

Shares of MLM traded down $4.93 during midday trading on Friday, hitting $583.03. 400,417 shares of the company’s stock traded hands, compared to its average volume of 447,505. Martin Marietta Materials, Inc. has a 1 year low of $451.37 and a 1 year high of $633.23. The firm’s fifty day moving average is $555.96 and its 200-day moving average is $557.02. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $35.63 billion, a price-to-earnings ratio of 18.17, a price-to-earnings-growth ratio of 4.04 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The business’s revenue was down 5.3% on a year-over-year basis. During the same quarter last year, the business earned $6.94 EPS. As a group, sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 17.84 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be paid a $0.79 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a yield of 0.54%. Martin Marietta Materials’s dividend payout ratio (DPR) is 9.85%.

About Martin Marietta Materials

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.