Pinnbrook Capital Management LP Acquires Shares of 11,020 Martin Marietta Materials, Inc. $MLM

Pinnbrook Capital Management LP bought a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the second quarter, HoldingsChannel reports. The institutional investor bought 11,020 shares of the construction company’s stock, valued at approximately $6,050,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Zions Bancorporation National Association UT purchased a new stake in shares of Martin Marietta Materials during the 1st quarter worth $30,000. NewSquare Capital LLC raised its stake in Martin Marietta Materials by 62.2% in the second quarter. NewSquare Capital LLC now owns 60 shares of the construction company’s stock valued at $33,000 after buying an additional 23 shares during the last quarter. Clearstead Trust LLC boosted its holdings in Martin Marietta Materials by 93.8% in the second quarter. Clearstead Trust LLC now owns 62 shares of the construction company’s stock worth $34,000 after acquiring an additional 30 shares in the last quarter. Aspect Partners LLC raised its position in shares of Martin Marietta Materials by 540.0% in the 2nd quarter. Aspect Partners LLC now owns 64 shares of the construction company’s stock valued at $35,000 after purchasing an additional 54 shares during the last quarter. Finally, IMA Advisory Services Inc. purchased a new position in shares of Martin Marietta Materials in the 1st quarter valued at approximately $40,000. 95.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MLM shares. Stifel Nicolaus upped their price target on shares of Martin Marietta Materials from $637.00 to $681.00 and gave the company a “buy” rating in a research note on Tuesday. Wells Fargo & Company dropped their price objective on shares of Martin Marietta Materials from $620.00 to $610.00 and set an “equal weight” rating on the stock in a report on Thursday, November 6th. Bank of America increased their price target on Martin Marietta Materials from $577.00 to $643.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Martin Marietta Materials in a report on Wednesday, October 8th. Finally, Morgan Stanley raised their price target on shares of Martin Marietta Materials from $576.00 to $605.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Two investment 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $644.38.

Martin Marietta Materials Stock Down 1.0%

Shares of NYSE MLM opened at $596.11 on Friday. Martin Marietta Materials, Inc. has a 1 year low of $441.95 and a 1 year high of $665.18. The company has a market capitalization of $35.95 billion, a P/E ratio of 33.06, a P/E/G ratio of 5.57 and a beta of 1.06. The company has a 50 day simple moving average of $621.02 and a 200-day simple moving average of $586.71. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 1.21.

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

Martin Marietta Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 0.6%. The ex-dividend date is Monday, December 1st. Martin Marietta Materials’s payout ratio is 17.50%.

Martin Marietta Materials Profile

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.