Ameriprise Financial Inc. Has $68.04 Million Holdings in Martin Marietta Materials, Inc. $MLM

Key Points

• Ameriprise Financial Inc. increased its stake in Martin Marietta Materials by 13.3% in the first quarter, owning 142,306 shares valued at approximately $68 million.
• Martin Marietta Materials plans to pay a quarterly dividend of $0.83 per share, reflecting an increase from its previous dividend of $0.79.
• Analysts have boosted their price targets on Martin Marietta Materials, with estimates ranging from $637 to $700, indicating strong anticipated performance.

Ameriprise Financial Inc. lifted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 13.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 142,306 shares of the construction company's stock after buying an additional 16,752 shares during the period. Ameriprise Financial Inc. owned about 0.24% of Martin Marietta Materials worth $68,042,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Martin Marietta Materials by 2.3% during the first quarter. Vanguard Group Inc. now owns 7,342,358 shares of the construction company's stock valued at $3,510,602,000 after purchasing an additional 168,175 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Martin Marietta Materials by 10.1% during the first quarter. JPMorgan Chase & Co. now owns 2,944,694 shares of the construction company's stock valued at $1,407,947,000 after purchasing an additional 268,928 shares during the last quarter. Principal Financial Group Inc. boosted its position in Martin Marietta Materials by 6.6% during the first quarter. Principal Financial Group Inc. now owns 1,940,423 shares of the construction company's stock valued at $927,775,000 after purchasing an additional 120,679 shares during the last quarter. Alkeon Capital Management LLC boosted its position in Martin Marietta Materials by 46.6% during the fourth quarter. Alkeon Capital Management LLC now owns 771,198 shares of the construction company's stock valued at $398,324,000 after purchasing an additional 245,000 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Martin Marietta Materials by 58,570.5% during the first quarter. GAMMA Investing LLC now owns 697,592 shares of the construction company's stock valued at $333,540,000 after purchasing an additional 696,403 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MLM shares. UBS Group raised Martin Marietta Materials from a "neutral" rating to a "buy" rating and lifted their price objective for the company 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 report on Saturday, August 9th. DA Davidson raised their target price on Martin Marietta Materials from $625.00 to $700.00 and gave the company a "buy" rating in a report on Monday, August 11th. Bank of America raised their target price on Martin Marietta Materials from $577.00 to $643.00 and gave the company a "neutral" rating in a report on Tuesday, August 5th. Finally, Royal Bank Of Canada restated a "sector perform" rating and set a $525.00 target price (up from $515.00) on shares of Martin Marietta Materials in a report on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Martin Marietta Materials currently has a consensus rating of "Moderate Buy" and a consensus target price of $622.63.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock traded up $4.06 during trading on Friday, reaching $616.35. The company's stock had a trading volume of 368,630 shares, compared to its average volume of 451,771. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.21 and a current ratio of 2.35. The business's fifty day moving average price is $580.58 and its 200-day moving average price is $535.75. The firm has a market cap of $37.17 billion, a price-to-earnings ratio of 34.18, a price-to-earnings-growth ratio of 5.58 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.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings results 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). Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the firm earned $4.76 earnings per share. The company's revenue was up 2.7% on a year-over-year basis. Martin Marietta Materials has set its FY 2025 guidance at EPS. As a group, equities research analysts predict 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. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.83 per share. 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. This represents a $3.32 dividend on an annualized basis and a yield of 0.5%. Martin Marietta Materials's dividend payout ratio (DPR) is presently 17.53%.

Insiders Place Their Bets

In other Martin Marietta Materials news, Director Laree E. Perez sold 1,038 shares of Martin Marietta Materials stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $613.32, for a total transaction of $636,626.16. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.69% of the company's stock.

Martin Marietta Materials 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.