Is Martin Marietta Materials (MLM) a Good Stock To Buy?

TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy returned -0.21% (net), compared to -0.65% for the Russell Midcap Growth Index. Strength in Consumer Discretionary, Energy, Financials, Industrials, Information Technology, and Materials sectors contributed to the performance of the strategy in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

TimesSquare Capital highlighted stocks like Martin Marietta Materials, Inc. (NYSE:MLM) in the Q3 2022 investor letter. Headquartered in Raleigh, North Carolina, Martin Marietta Materials, Inc. (NYSE:MLM) is a building materials company. On December 23, 2022, Martin Marietta Materials, Inc. (NYSE:MLM) stock closed at $338.59 per share. One-month return of Martin Marietta Materials, Inc. (NYSE:MLM) was -7.89% and its shares lost 22.53% of their value over the last 52 weeks. Martin Marietta Materials, Inc. (NYSE:MLM) has a market capitalization of $21.023 billion.

TimesSquare Capital made the following comment about Martin Marietta Materials, Inc. (NYSE:MLM) in its Q3 2022 investor letter:

“Within the Materials sector, Martin Marietta Materials, Inc. (NYSE:MLM) supplies aggregates to the construction industry. Solid results boosted the stock by 8%, with very good aggregate order growth and higher cement pricing. While the demand environment is strong, it does appear that energy inflation will have an impact on operating margins through year-end.”

Martin Marietta Materials, Inc. (NYSE:MLM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 42 hedge fund portfolios held Martin Marietta Materials, Inc. (NYSE:MLM) at the end of the third quarter, which was 39 in the previous quarter.

We discussed Martin Marietta Materials, Inc. (NYSE:MLM) in another article and shared best construction stocks to buy. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.