Apella Capital LLC Takes $4.03 Million Position in Martin Marietta Materials, Inc. $MLM

Key Points

• Apella Capital LLC has taken a significant new position in Martin Marietta Materials, acquiring 7,246 shares valued at approximately $4.03 million in the second quarter.
• Martin Marietta reported a quarterly EPS of $5.43, slightly missing analysts' estimates, with revenue of $1.81 billion compared to expectations of $1.88 billion.
• The company recently increased its quarterly dividend from $0.79 to $0.83 per share, reflecting a positive change in shareholder returns.

Apella Capital LLC acquired a new stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 7,246 shares of the construction company's stock, valued at approximately $4,031,000.

A number of other institutional investors also recently modified their holdings of the company. Sunbeam Capital Management LLC acquired a new position in shares of Martin Marietta Materials during the 4th quarter worth approximately $235,000. Waverly Advisors LLC increased its stake in Martin Marietta Materials by 78.9% during the 4th quarter. Waverly Advisors LLC now owns 1,041 shares of the construction company's stock worth $538,000 after acquiring an additional 459 shares during the period. Mather Group LLC. grew its stake in Martin Marietta Materials by 65.5% during 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 raised its position in Martin Marietta Materials by 1.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,007 shares of the construction company's stock valued at $1,457,000 after purchasing an additional 40 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its holdings in shares of Martin Marietta Materials by 30.5% during the 1st 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. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Trading Down 2.3%

NYSE:MLM opened at $616.61 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 1.21. The business has a fifty day moving average price of $594.11 and a 200-day moving average price of $543.68. The firm has a market capitalization of $37.19 billion, a price-to-earnings ratio of 34.20, a price-to-earnings-growth ratio of 5.58 and a beta of 0.94. 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 analysts' consensus estimates of $5.44 by ($0.01). The business had revenue of $1.81 billion during the quarter, compared to analysts' expectations 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 quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.76 EPS. Martin Marietta Materials has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.83 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. This is a positive change from Martin Marietta Materials's previous quarterly dividend of $0.79. Martin Marietta Materials's dividend payout ratio is currently 18.41%.

Insider Activity at Martin Marietta Materials

In other Martin Marietta Materials news, Director Laree E. Perez sold 1,038 shares of the business'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 transaction of $636,626.16. Following the sale, the director directly owned 15,417 shares of the company's stock, valued at $9,455,554.44. The trade was a 6.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.68% of the company's stock.

Analyst Ratings Changes

MLM has been the subject of a number of research reports. Raymond James Financial increased 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. Bank of America raised their target price 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. Wall Street Zen raised Martin Marietta Materials from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. DA Davidson boosted their price objective on Martin Marietta Materials from $625.00 to $700.00 and gave the stock a "buy" rating in a report on Monday, August 11th. Finally, Stephens reissued an "overweight" rating and issued a $700.00 price objective on shares of Martin Marietta Materials in a research report on Monday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $622.63.

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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