5,000 Shares in Martin Marietta Materials, Inc. $MLM Acquired by Bislett Management LLC

Key Points

• Bislett Management LLC has made a new investment in Martin Marietta Materials, buying 5,000 shares valued at approximately $2.39 million, constituting 1.7% of its portfolio.
• Martin Marietta Materials has received multiple price target upgrades from various analysts, including Morgan Stanley and DA Davidson, indicating growing confidence in the stock.
• The company has announced a quarterly dividend increase to $0.83 per share, reflecting a commitment to returning value to shareholders.

Bislett Management LLC acquired a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,000 shares of the construction company's stock, valued at approximately $2,391,000. Martin Marietta Materials accounts for approximately 1.7% of Bislett Management LLC's investment portfolio, making the stock its 13th biggest position.

Several other institutional investors have also recently made changes to their positions in the company. OneDigital Investment Advisors LLC raised its position in shares of Martin Marietta Materials by 1.9% during the 4th quarter. OneDigital Investment Advisors LLC now owns 1,020 shares of the construction company's stock valued at $527,000 after buying an additional 19 shares during the period. Net Worth Advisory Group boosted its stake in Martin Marietta Materials by 2.2% during the first quarter. Net Worth Advisory Group now owns 993 shares of the construction company's stock worth $475,000 after buying an additional 21 shares during the period. PDS Planning Inc increased its position in shares of Martin Marietta Materials by 4.9% during the first quarter. PDS Planning Inc now owns 452 shares of the construction company's stock valued at $216,000 after acquiring an additional 21 shares during the last quarter. Financial Management Professionals Inc. lifted its holdings in shares of Martin Marietta Materials by 3.5% in the 1st quarter. Financial Management Professionals Inc. now owns 652 shares of the construction company's stock worth $312,000 after acquiring an additional 22 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Martin Marietta Materials by 5.4% during the 4th quarter. Wellington Management Group LLP now owns 448 shares of the construction company's stock worth $231,000 after purchasing an additional 23 shares during the period. 95.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MLM has been the topic of a number of research reports. Stifel Nicolaus upped their price target on Martin Marietta Materials from $609.00 to $637.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. Wall Street Zen upgraded Martin Marietta Materials from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Raymond James Financial increased their target price on Martin Marietta Materials from $600.00 to $645.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Morgan Stanley raised their target price on Martin Marietta Materials from $576.00 to $605.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Finally, Stephens reiterated an "overweight" rating and set a $700.00 price target on shares of Martin Marietta Materials in a research note on Monday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $622.63.

Martin Marietta Materials Stock Up 1.0%

NYSE MLM traded up $6.2940 during trading hours on Friday, hitting $607.0340. 363,773 shares of the company were exchanged, compared to its average volume of 433,691. 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 firm has a market cap of $36.61 billion, a price-to-earnings ratio of 33.67, a PEG ratio of 5.54 and a beta of 0.89. The company has a 50 day moving average of $573.18 and a two-hundred day moving average of $532.93. Martin Marietta Materials, Inc. has a 52-week low of $441.95 and a 52-week high of $633.23.

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

Martin Marietta Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd will be given a $0.83 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. This is a boost from Martin Marietta Materials's previous quarterly dividend of $0.79. Martin Marietta Materials's payout ratio is currently 17.53%.

Insider Buying and Selling at Martin Marietta Materials

In other news, Director Laree E. Perez sold 1,038 shares of Martin Marietta Materials stock in a transaction on Friday, August 8th. The shares were sold at an average price of $613.32, for a total transaction of $636,626.16. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.69% of the company's stock.

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.