Sanctuary Advisors LLC Invests $3.35 Million in Martin Marietta Materials, Inc. $MLM

Sanctuary Advisors LLC purchased a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 5,818 shares of the construction company’s stock, valued at approximately $3,355,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. acquired a new position in Martin Marietta Materials in the second quarter valued at approximately $2,706,134,000. Victory Capital Management Inc. grew its position in Martin Marietta Materials by 51.8% in the fourth quarter. Victory Capital Management Inc. now owns 2,448,928 shares of the construction company’s stock worth $1,524,853,000 after acquiring an additional 836,120 shares during the period. Norges Bank acquired a new stake in Martin Marietta Materials during the fourth quarter worth $354,681,000. Bank of America Corp DE increased its stake in Martin Marietta Materials by 31.9% during the second quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock worth $1,284,938,000 after acquiring an additional 565,856 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Martin Marietta Materials in the second quarter valued at $199,321,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Wall Street Analysts Forecast Growth

MLM has been the topic of several recent analyst reports. Weiss Ratings lowered Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, August 17th. Berenberg Bank set a $556.00 price objective on shares of Martin Marietta Materials and gave the company a “hold” rating in a report on Tuesday, June 2nd. DA Davidson began coverage on shares of Martin Marietta Materials in a report on Monday. They issued a “neutral” rating and a $625.00 price objective on the stock. Stephens decreased their target price on shares of Martin Marietta Materials from $700.00 to $680.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. Finally, Morgan Stanley lowered their target price on shares of Martin Marietta Materials from $664.00 to $639.00 and set an “overweight” rating for the company in a research note on Thursday, August 13th. Ten research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Martin Marietta Materials presently has an average rating of “Moderate Buy” and a consensus target price of $665.29.

Martin Marietta Materials Stock Down 0.1%

Shares of NYSE MLM opened at $532.58 on Wednesday. The company has a quick ratio of 0.73, a current ratio of 1.41 and a debt-to-equity ratio of 0.44. The business’s 50 day moving average is $567.14 and its two-hundred day moving average is $593.72. Martin Marietta Materials, Inc. has a 52-week low of $522.19 and a 52-week high of $710.97. The firm has a market cap of $31.99 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 2.30 and a beta of 1.11.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Thursday, July 30th. The construction company reported $5.00 EPS for the quarter, topping the consensus estimate of $4.76 by $0.24. Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%.The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period last year, the business posted $5.43 earnings per share. The company’s quarterly revenue was up 21.0% on a year-over-year basis. Research analysts predict that Martin Marietta Materials, Inc. will post 19.07 EPS for the current year.

Martin Marietta Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.83. Martin Marietta Materials’s dividend payout ratio is currently 8.16%.

Martin Marietta Materials Company 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.