Turtle Creek Wealth Advisors LLC Acquires 1,615 Shares of Martin Marietta Materials, Inc. $MLM

Turtle Creek Wealth Advisors LLC increased its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 12.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,558 shares of the construction company’s stock after purchasing an additional 1,615 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in Martin Marietta Materials were worth $8,570,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MLM. Optima Capital LLC purchased a new stake in Martin Marietta Materials in the fourth quarter worth about $25,000. KERR FINANCIAL PLANNING Corp purchased a new position in shares of Martin Marietta Materials during the 3rd quarter valued at about $27,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of Martin Marietta Materials during the 4th quarter valued at about $31,000. Union Bancaire Privee UBP SA bought a new position in shares of Martin Marietta Materials during the 4th quarter valued at approximately $36,000. Finally, Reflection Asset Management bought a new position in shares of Martin Marietta Materials during the 4th quarter valued at approximately $35,000. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Up 3.6%

Shares of MLM opened at $599.97 on Friday. The business’s 50 day moving average is $585.20 and its 200 day moving average is $617.03. The company has a market capitalization of $36.03 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 2.46 and a beta of 1.10. Martin Marietta Materials, Inc. has a 12-month low of $525.38 and a 12-month 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.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.15. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the prior year, the company posted $1.90 EPS. The firm’s revenue for the quarter was up 17.2% compared to the same quarter last year. Research analysts expect that Martin Marietta Materials, Inc. will post 19.38 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 1st were given a dividend of $0.83 per share. The ex-dividend date was Monday, June 1st. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.6%. Martin Marietta Materials’s dividend payout ratio is currently 7.91%.

Analysts Set New Price Targets

Several research firms recently issued reports on MLM. B. Riley Financial raised shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 target price for the company in a report on Thursday, April 2nd. Wells Fargo & Company upped their price target on shares of Martin Marietta Materials from $608.00 to $614.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Zacks Research raised shares of Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Citigroup decreased their price objective on shares of Martin Marietta Materials from $804.00 to $731.00 and set a “buy” rating on the stock in a research report on Monday, May 4th. Finally, Royal Bank Of Canada lowered their target price on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “sector perform” rating on the stock in a research note on Monday, May 4th. Eleven research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $681.94.

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.