Alta Advisers Ltd Makes New $223,000 Investment in Martin Marietta Materials, Inc. $MLM

Key Points

• Alta Advisers Ltd has made a new investment of approximately $223,000 in Martin Marietta Materials, acquiring 406 shares of the company this past quarter.
• Director Laree E. Perez sold 1,038 shares of Martin Marietta materials stock, significantly reducing their position by 6.31%, in a transaction valued at over $636,000.
• Martin Marietta recently reported earnings per share of $5.43 for the quarter, slightly missing analysts' estimates, while also announcing an increase in its quarterly dividend to $0.83 per share.

Alta Advisers Ltd acquired a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 406 shares of the construction company's stock, valued at approximately $223,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC increased its stake in shares of Martin Marietta Materials by 34.7% in the 1st quarter. Farther Finance Advisors LLC now owns 423 shares of the construction company's stock valued at $205,000 after purchasing an additional 109 shares during the last quarter. Pallas Capital Advisors LLC bought a new position in shares of Martin Marietta Materials in the 1st quarter valued at $251,000. GAMMA Investing LLC increased its stake in shares of Martin Marietta Materials by 22.7% in the 1st quarter. GAMMA Investing LLC now owns 1,459 shares of the construction company's stock valued at $698,000 after purchasing an additional 270 shares during the last quarter. CX Institutional increased its stake in shares of Martin Marietta Materials by 8.3% in the 1st quarter. CX Institutional now owns 470 shares of the construction company's stock valued at $225,000 after purchasing an additional 36 shares during the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of Martin Marietta Materials by 5.0% in the 1st quarter. Fifth Third Bancorp now owns 7,357 shares of the construction company's stock valued at $3,518,000 after purchasing an additional 352 shares during the last quarter. Institutional investors own 95.04% of the company's stock.

Insider Buying and Selling

In other Martin Marietta Materials news, Director Laree E. Perez sold 1,038 shares of Martin Marietta Materials stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $613.32, for a total transaction of $636,626.16. Following the transaction, the director directly owned 15,417 shares of the company's stock, valued at approximately $9,455,554.44. The trade was a 6.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.69% of the company's stock.

Martin Marietta Materials Trading Down 0.3%

Shares of MLM stock opened at $632.22 on Friday. The firm has a market capitalization of $38.13 billion, a P/E ratio of 35.06, a P/E/G ratio of 5.73 and a beta of 1.01. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $640.00. The company has a quick ratio of 1.21, a current ratio of 2.35 and a debt-to-equity ratio of 0.56. The stock's fifty day simple moving average is $615.86 and its 200 day simple moving average is $563.34.

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

Martin Marietta Materials Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a boost from Martin Marietta Materials's previous quarterly dividend of $0.79. Martin Marietta Materials's dividend payout ratio (DPR) is presently 18.41%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MLM. Wells Fargo & Company upgraded Martin Marietta Materials to a "hold" rating in a research note on Wednesday. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $525.00 price target (up previously from $515.00) on shares of Martin Marietta Materials in a research note on Friday, August 8th. Raymond James Financial lifted their price target on Martin Marietta Materials from $600.00 to $645.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Stephens reiterated an "overweight" rating and issued a $700.00 price target on shares of Martin Marietta Materials in a research note on Monday, August 4th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Martin Marietta Materials in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, Martin Marietta Materials presently has an average rating of "Moderate Buy" and an average price target of $621.69.

Martin Marietta Materials Company Profile

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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