Hawk Ridge Capital Management LP Cuts Stake in Martin Marietta Materials, Inc. $MLM

Hawk Ridge Capital Management LP reduced its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 17.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 160,535 shares of the construction company’s stock after selling 33,920 shares during the period. Martin Marietta Materials comprises approximately 3.4% of Hawk Ridge Capital Management LP’s portfolio, making the stock its 12th biggest holding. Hawk Ridge Capital Management LP owned about 0.27% of Martin Marietta Materials worth $94,504,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its position in 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 during the period. SG Americas Securities LLC increased its holdings in shares of Martin Marietta Materials by 66.7% in the fourth quarter. SG Americas Securities LLC now owns 9,316 shares of the construction company’s stock worth $5,801,000 after buying an additional 3,728 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Martin Marietta Materials by 17.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,753 shares of the construction company’s stock worth $7,318,000 after buying an additional 1,778 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Martin Marietta Materials by 4.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 126,524 shares of the construction company’s stock valued at $80,272,000 after acquiring an additional 5,227 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of 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 valued at $1,524,853,000 after acquiring an additional 836,120 shares during the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Trading Up 2.4%

MLM opened at $573.11 on Tuesday. Martin Marietta Materials, Inc. has a one year low of $525.38 and a one year high of $710.97. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.28 and a quick ratio of 1.11. The business has a 50 day simple moving average of $576.33 and a two-hundred day simple moving average of $609.45. The firm has a market capitalization of $34.41 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 2.37 and a beta of 1.10.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period last year, the company earned $1.90 EPS. The business’s quarterly revenue was up 17.2% compared to the same quarter last year. Analysts predict that Martin Marietta Materials, Inc. will post 19.43 EPS for the current year.

Martin Marietta Materials Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MLM shares. B. Riley Financial upgraded Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 price target on the stock in a research report on Thursday, April 2nd. Citigroup boosted their price objective on Martin Marietta Materials from $731.00 to $737.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Oppenheimer started coverage on Martin Marietta Materials in a research note on Thursday, May 28th. They set a “market perform” rating for the company. Wall Street Zen cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Weiss Ratings raised shares of Martin Marietta Materials from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, June 25th. Eleven analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $681.53.

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.