Vise Technologies Inc. Makes New $1.10 Million Investment in Martin Marietta Materials, Inc. $MLM

Vise Technologies Inc. bought a new position in Martin Marietta Materials, Inc. (NYSE:MLM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,901 shares of the construction company’s stock, valued at approximately $1,096,000.

A number of other large investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Martin Marietta Materials by 14,332.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the construction company’s stock valued at $48,438,000 after buying an additional 77,253 shares in the last quarter. Jennison Associates LLC purchased a new stake in Martin Marietta Materials in the 4th quarter worth about $18,636,000. Victory Capital Management Inc. lifted its stake in Martin Marietta Materials by 51.8% in the 4th 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 in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Martin Marietta Materials by 4.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 126,524 shares of the construction company’s stock worth $80,272,000 after acquiring an additional 5,227 shares during the period. Finally, Stephens Inc. AR boosted its position in Martin Marietta Materials by 11.2% during the 4th quarter. Stephens Inc. AR now owns 51,326 shares of the construction company’s stock worth $31,958,000 after acquiring an additional 5,150 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on MLM shares. Oppenheimer began coverage on Martin Marietta Materials in a report on Thursday, May 28th. They issued a “market perform” rating on the stock. Berenberg Bank set a $556.00 price target on shares of Martin Marietta Materials and gave the stock a “hold” rating in a report on Tuesday, June 2nd. UBS Group lowered their price objective on shares of Martin Marietta Materials from $739.00 to $715.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Raymond James Financial set a $660.00 price objective on shares of Martin Marietta Materials in a research note on Friday, July 31st. Finally, Wells Fargo & Company cut their target price on shares of Martin Marietta Materials from $616.00 to $581.00 and set an “equal weight” rating for the company in a research report on Friday, July 31st. Ten equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $668.53.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $535.28 on Friday. Martin Marietta Materials, Inc. has a fifty-two week low of $522.19 and a fifty-two week high of $710.97. The stock’s 50-day moving average is $569.66 and its two-hundred day moving average is $596.04. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.41 and a quick ratio of 0.73. The firm has a market cap of $32.15 billion, a P/E ratio of 13.15, a PEG ratio of 2.31 and a beta of 1.11.

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

Martin Marietta Materials Increases Dividend

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