Regents Gate Capital LLP Makes New $2.98 Million Investment in Martin Marietta Materials, Inc. $MLM

Regents Gate Capital LLP purchased a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 5,054 shares of the construction company’s stock, valued at approximately $2,975,000.

Several other hedge funds also recently modified their holdings of MLM. Optima Capital LLC acquired a new stake in shares of Martin Marietta Materials in the 4th quarter valued at $25,000. Garton & Associates Financial Advisors LLC acquired a new position in Martin Marietta Materials during the fourth quarter worth $31,000. Union Bancaire Privee UBP SA acquired a new position in Martin Marietta Materials during the fourth quarter worth $36,000. Reflection Asset Management bought a new position in Martin Marietta Materials during the fourth quarter valued at about $35,000. Finally, Quarry LP bought a new position in Martin Marietta Materials during the third quarter valued at about $38,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Trading Down 2.3%

MLM stock opened at $563.57 on Friday. Martin Marietta Materials, Inc. has a 1-year low of $525.38 and a 1-year high of $710.97. The company has a current ratio of 2.28, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average is $578.36 and its 200-day moving average is $612.91. The firm has a market cap of $33.84 billion, a P/E ratio of 13.43, a P/E/G ratio of 2.40 and a beta of 1.10.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Thursday, April 30th. The construction company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.78 by $0.15. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.31 billion. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.Martin Marietta Materials’s revenue was up 17.2% on a year-over-year basis. During the same quarter last year, the company earned $1.90 EPS. Equities analysts anticipate that Martin Marietta Materials, Inc. will post 19.43 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

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 dividend of $0.83 per share. 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%.

Analyst Ratings Changes

Several research firms recently weighed in on MLM. Royal Bank Of Canada reduced their target price on Martin Marietta Materials from $630.00 to $615.00 and set a “sector perform” rating for the company in a report on Monday, May 4th. B. Riley Financial upgraded Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 price target on the stock in a report on Thursday, April 2nd. Wells Fargo & Company lifted their price target on shares of Martin Marietta Materials from $614.00 to $616.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 8th. Oppenheimer initiated coverage on shares of Martin Marietta Materials in a research note on Thursday, May 28th. They issued a “market perform” rating for the company. Finally, Weiss Ratings raised shares of Martin Marietta Materials from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, June 25th. Eleven analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $681.53.

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.