Findlay Park Partners LLP Has $121.23 Million Holdings in Martin Marietta Materials, Inc. $MLM

Findlay Park Partners LLP reduced its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 3.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 220,842 shares of the construction company’s stock after selling 7,800 shares during the period. Findlay Park Partners LLP owned 0.37% of Martin Marietta Materials worth $121,233,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MLM. Vanguard Group Inc. raised its holdings in shares of Martin Marietta Materials by 2.3% during the first quarter. Vanguard Group Inc. now owns 7,342,358 shares of the construction company’s stock valued at $3,510,602,000 after purchasing an additional 168,175 shares during the period. JPMorgan Chase & Co. increased its position in Martin Marietta Materials by 0.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,955,139 shares of the construction company’s stock valued at $1,622,254,000 after buying an additional 10,445 shares in the last quarter. Amundi raised its stake in Martin Marietta Materials by 9.2% during the 1st quarter. Amundi now owns 1,706,416 shares of the construction company’s stock worth $827,345,000 after buying an additional 144,270 shares during the period. Geode Capital Management LLC boosted its holdings in Martin Marietta Materials by 0.3% in the second quarter. Geode Capital Management LLC now owns 1,520,932 shares of the construction company’s stock worth $831,331,000 after acquiring an additional 4,666 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Martin Marietta Materials by 2.5% in the first quarter. Northern Trust Corp now owns 633,472 shares of the construction company’s stock worth $302,882,000 after acquiring an additional 15,678 shares in the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Up 0.8%

MLM stock opened at $622.64 on Thursday. The company has a quick ratio of 1.21, a current ratio of 2.35 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $37.55 billion, a PE ratio of 34.53, a PEG ratio of 5.57 and a beta of 1.06. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $665.18. The stock has a 50-day simple moving average of $618.84 and a two-hundred day simple moving average of $591.11.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Tuesday, November 4th. The construction company reported $5.97 EPS for the quarter, missing analysts’ consensus estimates of $6.62 by ($0.65). The firm had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. Martin Marietta Materials has set its FY 2025 guidance at EPS. On average, equities analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st will be paid a dividend of $0.83 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. Martin Marietta Materials’s dividend payout ratio (DPR) is 17.50%.

Analyst Upgrades and Downgrades

MLM has been the topic of a number of recent research reports. Barclays raised their price objective on shares of Martin Marietta Materials from $600.00 to $675.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Wall Street Zen downgraded Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 8th. Bank of America raised their target price on Martin Marietta Materials from $577.00 to $643.00 and gave the company a “neutral” rating in a report on Tuesday, August 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Martin Marietta Materials in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. increased their price target on Martin Marietta Materials from $670.00 to $700.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $644.38.

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.