TimesSquare Capital Management LLC Lowers Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

TimesSquare Capital Management LLC lessened its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 13.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 93,160 shares of the construction company’s stock after selling 14,894 shares during the period. TimesSquare Capital Management LLC owned approximately 0.15% of Martin Marietta Materials worth $48,117,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of MLM. First Personal Financial Services purchased a new stake in shares of Martin Marietta Materials in the third quarter worth about $33,000. Kestra Investment Management LLC purchased a new stake in shares of Martin Marietta Materials in the fourth quarter worth about $35,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Martin Marietta Materials in the fourth quarter worth about $41,000. R Squared Ltd purchased a new stake in shares of Martin Marietta Materials in the fourth quarter worth about $41,000. Finally, Larson Financial Group LLC purchased a new stake in shares of Martin Marietta Materials in the third quarter worth about $49,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Up 1.3 %

Shares of NYSE MLM opened at $534.34 on Wednesday. The stock’s 50 day moving average price is $533.74 and its two-hundred day moving average price is $548.21. Martin Marietta Materials, Inc. has a 52-week low of $482.72 and a 52-week high of $633.23. The stock has a market capitalization of $32.66 billion, a P/E ratio of 16.53, a PEG ratio of 4.61 and a beta of 0.91. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, topping analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. On average, analysts anticipate that Martin Marietta Materials, Inc. will post 19.61 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MLM has been the subject of several analyst reports. Wolfe Research raised Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 target price for the company in a research report on Wednesday, January 8th. Morgan Stanley reduced their price target on Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. HSBC raised Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price target for the company in a report on Wednesday, December 11th. JPMorgan Chase & Co. raised Martin Marietta Materials from a “neutral” rating to an “overweight” rating and increased their price target for the company from $515.00 to $640.00 in a report on Wednesday, November 27th. Finally, Truist Financial reduced their price target on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $639.43.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.