1832 Asset Management L.P. Grows Holdings in Martin Marietta Materials, Inc. $MLM

Key Points

• 1832 Asset Management L.P. increased its ownership in Martin Marietta Materials by 2,500.0%, acquiring 98,925 additional shares, bringing its total holding to 102,882 shares valued at approximately $49.2 million.
• Martin Marietta reported its Q2 earnings with an EPS of $5.43, slightly missing estimates, and a year-over-year revenue increase of 2.7%, totaling $1.81 billion.
• The company increased its quarterly dividend from $0.79 to $0.83, representing an annualized yield of 0.5% and a payout ratio of 18.41%.

1832 Asset Management L.P. boosted its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 2,500.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 102,882 shares of the construction company's stock after acquiring an additional 98,925 shares during the quarter. 1832 Asset Management L.P. owned 0.17% of Martin Marietta Materials worth $49,191,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sunbeam Capital Management LLC purchased a new stake in Martin Marietta Materials in the fourth quarter worth about $235,000. Waverly Advisors LLC increased its position in Martin Marietta Materials by 78.9% in the fourth quarter. Waverly Advisors LLC now owns 1,041 shares of the construction company's stock worth $538,000 after buying an additional 459 shares in the last quarter. Mather Group LLC. increased its position in Martin Marietta Materials by 65.5% in the first quarter. Mather Group LLC. now owns 278 shares of the construction company's stock worth $133,000 after buying an additional 110 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Martin Marietta Materials by 1.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,007 shares of the construction company's stock worth $1,457,000 after buying an additional 40 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its position in Martin Marietta Materials by 30.5% in the first quarter. Vontobel Holding Ltd. now owns 933 shares of the construction company's stock worth $446,000 after buying an additional 218 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Trading Down 0.5%

Shares of NYSE:MLM traded down $2.8910 during trading on Monday, hitting $604.9990. The company had a trading volume of 318,458 shares, compared to its average volume of 440,196. The stock has a market cap of $36.49 billion, a price-to-earnings ratio of 33.56, a price-to-earnings-growth ratio of 5.54 and a beta of 0.89. Martin Marietta Materials, Inc. has a one year low of $441.95 and a one year high of $633.23. The company has a fifty day simple moving average of $574.43 and a two-hundred day simple moving average of $533.31. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 1.21.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The construction company reported $5.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.44 by ($0.01). The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.88 billion. Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. Martin Marietta Materials's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $4.76 earnings per share. Martin Marietta Materials has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change from Martin Marietta Materials's previous quarterly dividend of $0.79. Martin Marietta Materials's dividend payout ratio is 17.53%.

Insider Activity

In other news, Director Laree E. Perez sold 1,038 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $613.32, for a total value of $636,626.16. Following the completion of the sale, the director directly owned 15,417 shares of the company's stock, valued at $9,455,554.44. This trade represents a 6.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.68% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. UBS Group upgraded Martin Marietta Materials from a "neutral" rating to a "buy" rating and upped their price target for the stock from $548.00 to $634.00 in a research report on Friday, May 16th. Wall Street Zen upgraded Martin Marietta Materials from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $525.00 price objective (up previously from $515.00) on shares of Martin Marietta Materials in a research note on Friday, August 8th. Bank of America upped their price objective on Martin Marietta Materials from $577.00 to $643.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Finally, DA Davidson upped their price objective on Martin Marietta Materials from $625.00 to $700.00 and gave the stock a "buy" rating in a research note on Monday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Martin Marietta Materials presently has a consensus rating of "Moderate Buy" and an average target price of $622.63.

About Martin Marietta Materials

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.