Patron Partners LLC Invests $664,000 in Martin Marietta Materials, Inc. $MLM

Patron Partners LLC purchased a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,151 shares of the construction company’s stock, valued at approximately $664,000.

A number of other large investors have also recently added to or reduced their stakes in MLM. Integrated Wealth Concepts LLC raised its stake in shares of Martin Marietta Materials by 6.6% in the 1st quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company’s stock valued at $379,000 after purchasing an additional 49 shares in the last quarter. Empowered Funds LLC grew its stake in Martin Marietta Materials by 11.4% in the first quarter. Empowered Funds LLC now owns 1,408 shares of the construction company’s stock worth $673,000 after purchasing an additional 144 shares in the last quarter. Sivia Capital Partners LLC increased its holdings 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 valued at $280,000 after buying an additional 51 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Martin Marietta Materials by 205.9% in the second quarter. EverSource Wealth Advisors LLC now owns 260 shares of the construction company’s stock valued at $143,000 after buying an additional 175 shares during the last quarter. Finally, Cresset Asset Management LLC raised its stake in Martin Marietta Materials by 22.6% during the second quarter. Cresset Asset Management LLC now owns 777 shares of the construction company’s stock valued at $427,000 after buying an additional 143 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MLM has been the subject of several research reports. Weiss Ratings lowered Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday. Raymond James Financial set a $660.00 price target on Martin Marietta Materials in a research report on Friday, July 31st. Morgan Stanley decreased their price objective on shares of Martin Marietta Materials from $664.00 to $639.00 and set an “overweight” rating for the company in a report on Thursday, August 13th. Royal Bank Of Canada lowered their target price on shares of Martin Marietta Materials from $615.00 to $610.00 and set a “sector perform” rating for the company in a research note on Monday, August 3rd. Finally, Stephens dropped 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 report on Friday, July 31st. Ten research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $668.53.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $535.28 on Friday. The company has a market cap of $32.15 billion, a P/E ratio of 13.15, a PEG ratio of 2.27 and a beta of 1.11. The business has a 50 day moving average of $569.66 and a two-hundred day moving average of $596.04. Martin Marietta Materials, Inc. has a 52 week low of $522.19 and a 52 week high of $710.97. The company has a quick ratio of 0.73, a current ratio of 1.41 and a debt-to-equity ratio of 0.44.

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

Martin Marietta Materials Increases Dividend

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

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.