TimesSquare Capital Administration, an fairness funding administration firm, launched its “U.S. Mid Cap Development Technique” fourth-quarter investor letter. A duplicate of the identical may be downloaded right here. Within the fourth quarter, the technique underperformed the Russell Midcap Development Index and returned 13.66% (gross) and 13.44% (internet) whereas the index return was -14.55%. As well as, please verify the fund’s high 5 holdings to know its finest picks in 2023.
TimesSquare Capital U.S. Mid Cap Development Technique featured shares like Martin Marietta Supplies, Inc. (NYSE:MLM) within the fourth quarter 2023 investor letter. Headquartered in Raleigh, North Carolina, Martin Marietta Supplies, Inc. (NYSE:MLM) is a pure resource-based constructing supplies firm. On March 28, 2024, Martin Marietta Supplies, Inc. (NYSE:MLM) inventory closed at $613.94 per share. One-month return of Martin Marietta Supplies, Inc. (NYSE:MLM) was 6.27%, and its shares gained 75.16% of their worth over the past 52 weeks. Martin Marietta Supplies, Inc. (NYSE:MLM) has a market capitalization of $37.955 billion.
TimesSquare Capital U.S. Mid Cap Development Technique said the next relating to Martin Marietta Supplies, Inc. (NYSE:MLM) in its fourth quarter 2023 investor letter:
“Inside Supplies, we search nicely positioned firms which can be much less prone to swings in commodity costs. Martin Marietta Supplies, Inc. (NYSE:MLM) is a provider of aggregates and different supplies to the development business. Their third quarter included increased than anticipated earnings with inline revenues. Throughout its product lineup: combination volumes declined, cement volumes had been flat, ready-mix volumes had been up, and asphalt volumes had been up. These outcomes together with increased revenue steerage led to a 22% enhance within the inventory value.”
A big development challenge with cranes and forklifts in motion, demonstrating the corporate’s constructing supplies enterprise.
Martin Marietta Supplies, Inc. (NYSE:MLM) is just not on our record of 30 Most Well-liked Shares Amongst Hedge Funds. On the finish of the fourth quarter, Martin Marietta Supplies, Inc. (NYSE:MLM) was held by 52 hedge fund portfolios, in comparison with 50 within the earlier quarter, in accordance with our database.
We mentioned Martin Marietta Supplies, Inc. (NYSE:MLM) in one other article and shared The London Firm Giant Cap Technique’s views on the corporate. As well as, please try our hedge fund investor letters This autumn 2023 web page for extra investor letters from hedge funds and different main traders.
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Disclosure: None. This text is initially revealed at Insider Monkey.