Is Martin Marietta Materials (MLM) a Great Investment Choice?
Carillon Tower Advisers, an investment management firm, released its "Carillon Eagle Mid Cap Growth Fund" second quarter 2023 investor letter, a copy of which can be downloaded here. For the second quarter of 2023, Carillon Eagle Mid Cap Growth Fund reported total net assets of $6.46 billion, and investments in shares of 87 distinct companies. Take a moment to explore the Carillon Eagle Mid Cap Growth Fund's top 5 holdings for insights into their key investment choices in 2023.
In its Q2 2023 investor letter, Carillon Eagle Mid Cap Growth Fund mentioned Martin Marietta Materials, Inc. (NYSE:MLM) and explained its insights for the company. 1993, Martin Marietta Materials, Inc. (NYSE:MLM) is a Raleigh, North Carolina-based building material company with a $28.2 billion market capitalization. Martin Marietta Materials, Inc. (NYSE:MLM) delivered a 35.33% return since the beginning of the year, while its 12-month returns are up by 34.29%. The stock closed at $457.39 per share on September 01, 2023.
Here is what Carillon Eagle Mid Cap Growth Fund has to say about Martin Marietta Materials, Inc. (NYSE:MLM) in its Q2 2023 investor letter:
"Martin Marietta Materials supplies aggregates, cement, and downstream products such as ready-mixed concrete and asphalt to infrastructure and construction-related end markets. The company was a notable outperformer in the quarter as it experienced a period of extraordinary pricing gains while simultaneously seeing its internal cost inflation moderate from elevated levels. Accelerating levels of infrastructure spending and healthy nonresidential construction activity have provided a meaningful tailwind to the company’s operations. Improving trends in residential construction activity also provided an incremental positive development recently, and we expect this to continue through the remainder of the year."
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Our calculations show that Martin Marietta Materials, Inc. (NYSE:MLM) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Martin Marietta Materials, Inc. (NYSE:MLM) was in 47 hedge fund portfolios at the end of the second quarter of 2023, compared to 47 funds in the previous quarter. Martin Marietta Materials, Inc. (NYSE:MLM) delivered a 10.19% return in the past 3 months.
We also discussed Martin Marietta Materials, Inc. (NYSE:MLM) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters Q2 2023 page.
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Disclosure: None. This article is originally published at Insider Monkey.
