Martin Marietta Materials, Inc. $MLM Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 51.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,448,928 shares of the construction company’s stock after acquiring an additional 836,120 shares during the period. Martin Marietta Materials accounts for approximately 0.9% of Victory Capital Management Inc.’s investment portfolio, making the stock its 13th biggest holding. Victory Capital Management Inc.’s holdings in Martin Marietta Materials were worth $1,524,853,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Martin Marietta Materials by 0.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 297,401 shares of the construction company’s stock valued at $185,180,000 after acquiring an additional 1,326 shares during the period. Wells Fargo & Company MN increased its position in shares of Martin Marietta Materials by 53.5% in the 4th quarter. Wells Fargo & Company MN now owns 241,563 shares of the construction company’s stock valued at $150,411,000 after acquiring an additional 84,142 shares during the period. Wealthspire Advisors LLC increased its position in shares of Martin Marietta Materials by 19.6% in the 4th quarter. Wealthspire Advisors LLC now owns 561 shares of the construction company’s stock valued at $350,000 after acquiring an additional 92 shares during the period. Circle Wealth Management LLC grew its position in Martin Marietta Materials by 6.6% during the 4th quarter. Circle Wealth Management LLC now owns 988 shares of the construction company’s stock worth $615,000 after purchasing an additional 61 shares during the period. Finally, Quadrant Capital Group LLC grew its position in Martin Marietta Materials by 0.8% during the 4th quarter. Quadrant Capital Group LLC now owns 2,186 shares of the construction company’s stock worth $1,361,000 after purchasing an additional 17 shares during the period. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Trading Up 1.8%

MLM stock opened at $575.51 on Friday. The company’s 50-day simple moving average is $589.47 and its 200-day simple moving average is $618.88. The company has a quick ratio of 1.11, a current ratio of 2.28 and a debt-to-equity ratio of 0.47. Martin Marietta Materials, Inc. has a 52-week low of $525.38 and a 52-week high of $710.97. The firm has a market cap of $34.56 billion, a P/E ratio of 13.72, a PEG ratio of 2.40 and a beta of 1.10.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.15. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the company posted $1.90 EPS. The company’s revenue for the quarter was up 17.2% on a year-over-year basis. As a group, equities analysts forecast that Martin Marietta Materials, Inc. will post 19.41 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, June 1st. Martin Marietta Materials’s dividend payout ratio is presently 7.91%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MLM. Berenberg Bank set a $556.00 price target on Martin Marietta Materials and gave the stock a “hold” rating in a research report on Tuesday, June 2nd. Raymond James Financial set a $690.00 price target on Martin Marietta Materials in a research report on Monday, April 27th. Stephens cut their price target on Martin Marietta Materials from $740.00 to $735.00 and set an “overweight” rating on the stock in a research report on Friday, February 13th. UBS Group set a $739.00 price target on Martin Marietta Materials in a research report on Sunday, May 10th. Finally, Wells Fargo & Company increased their price target on 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. Ten equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $681.94.

Martin Marietta Materials 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.