Alpha Omega Wealth Management LLC Decreases Holdings in Martin Marietta Materials, Inc. $MLM

Key Points

• Alpha Omega Wealth Management LLC reduced its stake in Martin Marietta Materials, Inc. by 49.9% in the second quarter, owning 2,672 shares worth approximately $1.47 million after selling 2,663 shares.
• The company recently declared a quarterly dividend of $0.83, an increase from the previous dividend of $0.79, with a dividend yield of 0.5%.
• Martin Marietta's stock has received mixed ratings from analysts, with a consensus of "Moderate Buy" and a price target averaging $622.63.

Alpha Omega Wealth Management LLC trimmed its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 49.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,672 shares of the construction company's stock after selling 2,663 shares during the period. Alpha Omega Wealth Management LLC's holdings in Martin Marietta Materials were worth $1,467,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of MLM. Wayfinding Financial LLC bought a new position in Martin Marietta Materials during the 1st quarter worth approximately $29,000. Chilton Capital Management LLC bought a new position in Martin Marietta Materials during the 1st quarter worth approximately $30,000. Zions Bancorporation National Association UT bought a new position in Martin Marietta Materials during the 1st quarter worth approximately $30,000. IMA Advisory Services Inc. bought a new position in Martin Marietta Materials during the 1st quarter worth approximately $40,000. Finally, Valley National Advisers Inc. grew its position in Martin Marietta Materials by 193.9% during the 1st quarter. Valley National Advisers Inc. now owns 97 shares of the construction company's stock worth $45,000 after acquiring an additional 64 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Martin Marietta Materials

In other news, Director Laree E. Perez sold 1,038 shares of the business's stock in a transaction 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 transaction, the director owned 15,417 shares in the company, valued at $9,455,554.44. The trade was a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.68% of the stock is owned by corporate insiders.

Martin Marietta Materials Stock Up 0.3%

Shares of NYSE:MLM opened at $620.41 on Tuesday. The stock has a fifty day simple moving average of $600.47 and a two-hundred day simple moving average of $549.70. The stock has a market capitalization of $37.42 billion, a price-to-earnings ratio of 34.41, a PEG ratio of 5.61 and a beta of 0.94. Martin Marietta Materials, Inc. has a 12-month low of $441.95 and a 12-month high of $633.23. The company has a current ratio of 2.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.56.

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

Martin Marietta Materials Increases Dividend

The firm also recently declared 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 is an increase from Martin Marietta Materials's previous quarterly dividend of $0.79. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Tuesday, September 2nd. Martin Marietta Materials's dividend payout ratio (DPR) is presently 18.41%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MLM. Stephens restated an "overweight" rating and set a $700.00 price target on shares of Martin Marietta Materials in a research report on Monday, August 4th. Morgan Stanley raised their price target on Martin Marietta Materials from $576.00 to $605.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Bank of America raised their price target on Martin Marietta Materials from $577.00 to $643.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Wall Street Zen upgraded Martin Marietta Materials from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and issued a $525.00 price objective (up from $515.00) on shares of Martin Marietta Materials in a research report on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.

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