Junto Capital Management LP Makes New $71.25 Million Investment in Martin Marietta Materials, Inc. $MLM

Junto Capital Management LP purchased a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) in the second quarter, Holdings Channel reports. The institutional investor purchased 123,546 shares of the construction company’s stock, valued at approximately $71,249,000. Martin Marietta Materials comprises about 1.3% of Junto Capital Management LP’s portfolio, making the stock its 29th largest position.

Several other large investors also recently made changes to their positions in MLM. Lido Advisors LLC grew its stake in shares of Martin Marietta Materials by 0.8% in the 4th quarter. Lido Advisors LLC now owns 1,920 shares of the construction company’s stock worth $1,209,000 after purchasing an additional 15 shares during the last quarter. Harbour Investments Inc. lifted its stake in Martin Marietta Materials by 31.4% during the fourth quarter. Harbour Investments Inc. now owns 67 shares of the construction company’s stock valued at $42,000 after purchasing an additional 16 shares during the last quarter. AMG National Trust Bank lifted its stake in Martin Marietta Materials by 3.6% during the first quarter. AMG National Trust Bank now owns 495 shares of the construction company’s stock valued at $291,000 after purchasing an additional 17 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in Martin Marietta Materials by 0.8% during the fourth quarter. Quadrant Capital Group LLC now owns 2,186 shares of the construction company’s stock worth $1,361,000 after buying an additional 17 shares in the last quarter. Finally, AlTi Global Inc. boosted its holdings in Martin Marietta Materials by 1.2% during the first quarter. AlTi Global Inc. now owns 1,496 shares of the construction company’s stock worth $881,000 after buying an additional 18 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Down 1.7%

MLM stock opened at $503.20 on Thursday. Martin Marietta Materials, Inc. has a 52-week low of $502.36 and a 52-week high of $710.97. The company’s 50 day simple moving average is $548.59 and its 200-day simple moving average is $581.36. 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 capitalization of $30.23 billion, a P/E ratio of 12.36, a P/E/G ratio of 2.21 and a beta of 1.10.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Thursday, July 30th. The construction company reported $5.00 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter last year, the business posted $5.43 EPS. The company’s revenue was up 21.0% on a year-over-year basis. As a group, equities research analysts anticipate that Martin Marietta Materials, Inc. will post 19.07 EPS for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.83. This represents a $3.36 annualized dividend and a yield of 0.7%. Martin Marietta Materials’s payout ratio is presently 8.26%.

Wall Street Analyst Weigh In

MLM has been the topic of several research reports. Sanford C. Bernstein cut Martin Marietta Materials to an “underweight” rating in a report on Wednesday, September 2nd. Morgan Stanley reduced their price objective on Martin Marietta Materials from $664.00 to $639.00 and set an “overweight” rating for the company in a research note on Thursday, August 13th. Oppenheimer initiated coverage on Martin Marietta Materials in a report on Thursday, May 28th. They issued a “market perform” rating on the stock. Weiss Ratings lowered Martin Marietta Materials from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, September 3rd. Finally, Citigroup reduced their target price on Martin Marietta Materials from $737.00 to $690.00 and set a “buy” rating for the company in a report on Monday, August 3rd. Twelve research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $667.53.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc is a U.S.-based supplier of construction aggregates and other building materials. The company produces crushed stone, sand and gravel used in infrastructure, commercial, residential and industrial construction projects.

Its products and services also include cement, ready-mixed concrete, asphalt and paving materials. Martin Marietta serves customers involved in roads, bridges, airports, buildings and other essential infrastructure, with operations concentrated across several regions of the United States.

The company was established in 1993 as an independent, publicly traded materials business formed from the construction materials operations of Martin Marietta Corporation.