Pinnbrook Capital Management LP Has $13.29 Million Stake in Martin Marietta Materials, Inc. $MLM

Pinnbrook Capital Management LP grew its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 91.3% in the third quarter, HoldingsChannel.com reports. The fund owned 21,081 shares of the construction company’s stock after buying an additional 10,061 shares during the quarter. Martin Marietta Materials comprises 1.5% of Pinnbrook Capital Management LP’s portfolio, making the stock its 13th biggest position. Pinnbrook Capital Management LP’s holdings in Martin Marietta Materials were worth $13,287,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Integrated Wealth Concepts LLC grew its position in Martin Marietta Materials by 6.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company’s stock worth $379,000 after acquiring an additional 49 shares during the last quarter. Empowered Funds LLC raised its position in Martin Marietta Materials by 11.4% in the 1st quarter. Empowered Funds LLC now owns 1,408 shares of the construction company’s stock valued at $673,000 after purchasing an additional 144 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in Martin Marietta Materials by 11.1% in the second quarter. Sivia Capital Partners LLC now owns 510 shares of the construction company’s stock worth $280,000 after purchasing an additional 51 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Martin Marietta Materials by 73.2% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 781 shares of the construction company’s stock worth $429,000 after purchasing an additional 330 shares in the last quarter. Finally, ProShare Advisors LLC grew its holdings in shares of Martin Marietta Materials by 9.5% during the second quarter. ProShare Advisors LLC now owns 12,132 shares of the construction company’s stock worth $6,660,000 after purchasing an additional 1,053 shares during the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Price Performance

Shares of MLM stock opened at $584.08 on Friday. The firm has a market cap of $35.23 billion, a price-to-earnings ratio of 31.07, a PEG ratio of 2.31 and a beta of 1.13. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $710.97. The company has a quick ratio of 2.36, a current ratio of 3.57 and a debt-to-equity ratio of 0.53. The stock has a 50-day moving average price of $654.23 and a 200 day moving average price of $632.51.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, February 11th. The construction company reported $4.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.19). The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.66 billion. Martin Marietta Materials had a net margin of 17.38% and a return on equity of 10.86%. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.79 earnings per share. Research analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 2nd will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 0.6%. The ex-dividend date is Monday, March 2nd. Martin Marietta Materials’s dividend payout ratio is currently 17.66%.

Analyst Ratings Changes

A number of research analysts recently issued reports on MLM shares. Weiss Ratings cut Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, February 23rd. B. Riley Financial initiated coverage on shares of Martin Marietta Materials in a report on Thursday, January 15th. They set a “neutral” rating and a $700.00 price objective on the stock. Morgan Stanley lowered their price objective on shares of Martin Marietta Materials from $706.00 to $702.00 and set an “overweight” rating for the company in a research report on Monday, March 9th. Truist Financial set a $710.00 target price on shares of Martin Marietta Materials in a research note on Thursday, February 12th. Finally, Wells Fargo & Company reduced their target price on shares of Martin Marietta Materials from $631.00 to $612.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 12th. Eight investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $696.88.

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.