Findlay Park Partners LLP Has $240.12 Million Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Findlay Park Partners LLP increased its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM – Get Rating) by 33.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 710,490 shares of the construction company’s stock after buying an additional 179,379 shares during the period. Martin Marietta Materials comprises 2.6% of Findlay Park Partners LLP’s portfolio, making the stock its 11th biggest holding. Findlay Park Partners LLP’s holdings in Martin Marietta Materials were worth $240,124,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of MLM. Fairfield Bush & CO. bought a new position in shares of Martin Marietta Materials during the first quarter worth about $46,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Martin Marietta Materials by 4.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 391,276 shares of the construction company’s stock valued at $150,599,000 after purchasing an additional 15,163 shares during the last quarter. Yousif Capital Management LLC lifted its position in shares of Martin Marietta Materials by 0.4% in the first quarter. Yousif Capital Management LLC now owns 9,391 shares of the construction company’s stock valued at $3,615,000 after buying an additional 40 shares during the last quarter. Prudential PLC acquired a new stake in shares of Martin Marietta Materials in the first quarter valued at approximately $456,000. Finally, Cetera Investment Advisers lifted its position in shares of Martin Marietta Materials by 12.8% in the first quarter. Cetera Investment Advisers now owns 950 shares of the construction company’s stock valued at $366,000 after buying an additional 108 shares during the last quarter. 93.07% of the stock is currently owned by institutional investors.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock opened at $397.26 on Wednesday. Martin Marietta Materials, Inc. has a one year low of $284.99 and a one year high of $410.48. The firm has a market capitalization of $24.62 billion, a price-to-earnings ratio of 25.65, a PEG ratio of 1.64 and a beta of 0.87. The business has a 50-day simple moving average of $362.06 and a 200 day simple moving average of $356.71. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.12 and a quick ratio of 1.40.

Martin Marietta Materials (NYSE:MLM – Get Rating) last issued its earnings results on Thursday, May 4th. The construction company reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $1.17. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.27 billion. Martin Marietta Materials had a return on equity of 12.31% and a net margin of 15.39%. The firm’s revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.39 EPS. On average, research analysts anticipate that Martin Marietta Materials, Inc. will post 15.84 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 1st will be issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Wednesday, May 31st. Martin Marietta Materials’s dividend payout ratio is currently 17.04%.

Analyst Upgrades and Downgrades

MLM has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their target price on Martin Marietta Materials from $400.00 to $450.00 in a research note on Friday, May 5th. Atlantic Securities lowered Martin Marietta Materials from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $375.00 to $350.00 in a research note on Tuesday, January 24th. The Goldman Sachs Group upgraded Martin Marietta Materials from a “neutral” rating to a “buy” rating and increased their target price for the stock from $420.00 to $428.00 in a research note on Monday, April 3rd. Morgan Stanley lowered their target price on Martin Marietta Materials from $390.00 to $386.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 20th. Finally, Seaport Res Ptn restated a “neutral” rating on shares of Martin Marietta Materials in a research note on Friday, February 10th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Martin Marietta Materials presently has an average rating of “Moderate Buy” and an average price target of $412.75.

About Martin Marietta Materials

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Martin Marietta Materials, Inc engages in the provision of aggregates including crushed stone, sand, and gravel through its network of quarries and distribution yards. It operates through the following geographical segments: East Group and West Group. The East Group segments provide aggregated products only.