Diamond Hill Capital Management LLC Investment Advisor Purchases New Stake in Martin Marietta Materials, Inc. $MLM

by · The Cerbat Gem

Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM – Free Report) in the 2nd quarter, Holdings Channel reports. The fund purchased 213,905 shares of the construction company’s stock, valued at approximately $123,359,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Lido Advisors LLC lifted its stake in shares of Martin Marietta Materials by 0.8% during the 4th quarter. Lido Advisors LLC now owns 1,920 shares of the construction company’s stock worth $1,209,000 after buying an additional 15 shares during the last quarter. Ashton Thomas Private Wealth LLC grew its stake in Martin Marietta Materials by 3.9% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 424 shares of the construction company’s stock valued at $264,000 after buying an additional 16 shares during the last quarter. Harbour Investments Inc. grew its stake in Martin Marietta Materials by 31.4% in the 4th quarter. Harbour Investments Inc. now owns 67 shares of the construction company’s stock valued at $42,000 after buying an additional 16 shares during the last quarter. AMG National Trust Bank raised its holdings in Martin Marietta Materials by 3.6% in the 1st quarter. AMG National Trust Bank now owns 495 shares of the construction company’s stock valued at $291,000 after acquiring an additional 17 shares during the period. Finally, Quadrant Capital Group LLC raised its holdings in Martin Marietta Materials by 0.8% in the 4th quarter. Quadrant Capital Group LLC now owns 2,186 shares of the construction company’s stock valued at $1,361,000 after acquiring an additional 17 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MLM shares. Weiss Ratings upgraded shares of Martin Marietta Materials from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, June 25th. UBS Group lowered their target price on Martin Marietta Materials from $739.00 to $715.00 and set a “buy” rating on the stock in a research note on Monday, August 3rd. JPMorgan Chase & Co. dropped their price target on Martin Marietta Materials from $700.00 to $680.00 and set a “neutral” rating for the company in a report on Friday, July 31st. Wells Fargo & Company reduced their price target on Martin Marietta Materials from $616.00 to $581.00 and set an “equal weight” rating for the company in a research note on Friday, July 31st. Finally, Raymond James Financial set a $660.00 price objective on Martin Marietta Materials in a report on Friday, July 31st. Eleven investment analysts have rated the stock with a Buy rating and eight 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 $668.53.

Get Our Latest Report on MLM

Martin Marietta Materials Stock Performance

Shares of NYSE:MLM opened at $549.01 on Monday. The company’s 50 day moving average price is $572.88 and its two-hundred day moving average price is $599.82. Martin Marietta Materials, Inc. has a 12-month low of $523.48 and a 12-month high of $710.97. The firm has a market cap of $32.98 billion, a PE ratio of 13.49, a PEG ratio of 2.37 and a beta of 1.11. 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 – Get Free Report) last announced its earnings results on Thursday, July 30th. The construction company reported $5.00 EPS for the quarter, topping the consensus estimate of $4.76 by $0.24. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period last year, the firm earned $5.43 earnings per share. The business’s revenue for the quarter was up 21.0% on a year-over-year basis. Equities research analysts predict that Martin Marietta Materials, Inc. will post 19.07 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

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

Martin Marietta Materials Company Profile

(Free Report)

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.

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