Asset Management One Co. Ltd. Buys 1,099 Shares of Martin Marietta Materials, Inc. $MLM

Key Points

• Asset Management One Co. Ltd. raised its stake in Martin Marietta Materials by 3.6% during the second quarter, totaling 31,996 shares valued at approximately $17.57 million.
• Several institutional investors increased their positions in Martin Marietta, with Lazard Freres Gestion S.A.S. boosting its holdings by 48.8%, now owning 49,386 shares.
• Analysts are optimistic, raising target prices for Martin Marietta, with Barclays setting a target of $675 and Royal Bank of Canada increasing theirs to $525, indicating a generally positive sentiment on the stock.

Asset Management One Co. Ltd. raised its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 3.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 31,996 shares of the construction company's stock after purchasing an additional 1,099 shares during the period. Asset Management One Co. Ltd. owned 0.05% of Martin Marietta Materials worth $17,565,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Lazard Freres Gestion S.A.S. increased its position in Martin Marietta Materials by 48.8% during the 2nd quarter. Lazard Freres Gestion S.A.S. now owns 49,386 shares of the construction company's stock valued at $27,110,000 after purchasing an additional 16,192 shares during the period. AlTi Global Inc. increased its position in Martin Marietta Materials by 3.3% during the 2nd quarter. AlTi Global Inc. now owns 1,479 shares of the construction company's stock valued at $837,000 after purchasing an additional 47 shares during the period. Castle Wealth Management LLC increased its position in Martin Marietta Materials by 2.7% during the 2nd quarter. Castle Wealth Management LLC now owns 1,173 shares of the construction company's stock valued at $644,000 after purchasing an additional 31 shares during the period. Ethic Inc. increased its position in Martin Marietta Materials by 19.5% during the 2nd quarter. Ethic Inc. now owns 7,620 shares of the construction company's stock valued at $4,191,000 after purchasing an additional 1,241 shares during the period. Finally, Rehmann Capital Advisory Group purchased a new position in Martin Marietta Materials during the 2nd quarter valued at about $219,000. Hedge funds and other institutional investors own 95.04% of the company's stock.

Analyst Upgrades and Downgrades

MLM has been the topic of a number of research reports. Barclays raised their target price on shares of Martin Marietta Materials from $600.00 to $675.00 and gave the company an "overweight" rating in a research report on Monday, October 20th. Royal Bank Of Canada reissued a "sector perform" rating and set a $525.00 target price (up previously from $515.00) on shares of Martin Marietta Materials in a research report on Friday, August 8th. Wells Fargo & Company raised shares of Martin Marietta Materials to a "hold" rating in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Martin Marietta Materials from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Raymond James Financial lifted their price objective on shares of Martin Marietta Materials from $645.00 to $680.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, Martin Marietta Materials has an average rating of "Moderate Buy" and an average target price of $628.56.

Martin Marietta Materials Stock Up 0.3%

Shares of Martin Marietta Materials stock opened at $621.05 on Friday. The firm's 50 day moving average price is $620.38 and its 200-day moving average price is $574.26. The company has a market cap of $37.46 billion, a P/E ratio of 34.45, a PEG ratio of 5.61 and a beta of 1.01. The company has a quick ratio of 1.21, a current ratio of 2.35 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a 52-week low of $441.95 and a 52-week high of $665.18.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its earnings results on Thursday, August 7th. The construction company reported $5.43 EPS for the quarter, missing analysts' consensus estimates of $5.44 by ($0.01). The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.88 billion. Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%.The firm's revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the business earned $4.76 earnings per share. Martin Marietta Materials has set its FY 2025 guidance at EPS. On average, 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. Investors of record on Tuesday, September 2nd were paid a $0.83 dividend. This is a boost from Martin Marietta Materials's previous quarterly dividend of $0.79. The ex-dividend date was Tuesday, September 2nd. 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 18.41%.

Insider Buying and Selling

In related news, Director Laree E. Perez sold 1,038 shares of Martin Marietta Materials stock in a transaction that occurred on Friday, August 8th. The shares were 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 in the company, 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. 0.69% of the stock is owned by company insiders.

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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