Breakwater Capital Group Purchases New Shares in Martin Marietta Materials, Inc. $MLM

Key Points

• Breakwater Capital Group acquired 418 shares of Martin Marietta Materials, Inc. valued at approximately $229,000 in the second quarter.
• Martin Marietta recently increased its quarterly dividend to $0.83, up from $0.79, representing an annual yield of 0.5%.
• Analysts remain optimistic with a consensus target price for the stock at $622.63, indicating a mix of ratings ranging from "Strong Buy" to "Hold".

Breakwater Capital Group bought a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 418 shares of the construction company's stock, valued at approximately $229,000.

A number of other hedge funds also recently bought and sold shares of the company. Sunbeam Capital Management LLC purchased a new stake in shares of Martin Marietta Materials in the 4th quarter worth $235,000. Waverly Advisors LLC grew its position in shares of Martin Marietta Materials by 78.9% during the fourth quarter. Waverly Advisors LLC now owns 1,041 shares of the construction company's stock worth $538,000 after purchasing an additional 459 shares in the last quarter. Mather Group LLC. grew its position in shares of 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 purchasing an additional 110 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of 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 worth $1,457,000 after purchasing an additional 40 shares in the last quarter. Finally, Vontobel Holding Ltd. grew its holdings in Martin Marietta Materials by 30.5% during the 1st quarter. Vontobel Holding Ltd. now owns 933 shares of the construction company's stock valued at $446,000 after buying an additional 218 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company's stock.

Analyst Upgrades and Downgrades

MLM has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Martin Marietta Materials from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $525.00 target price (up from $515.00) on shares of Martin Marietta Materials in a research note on Friday, August 8th. Bank of America raised their target price on shares of Martin Marietta Materials from $577.00 to $643.00 and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Stifel Nicolaus raised their price objective on Martin Marietta Materials from $609.00 to $637.00 and gave the company a "buy" rating in a research report on Tuesday, August 12th. Finally, Morgan Stanley raised their price objective on Martin Marietta Materials from $576.00 to $605.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $622.63.

Insider Transactions at Martin Marietta Materials

In other Martin Marietta Materials news, Director Laree E. Perez sold 1,038 shares of the company's stock in a transaction that occurred 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 transaction, the director owned 15,417 shares in the company, valued at approximately $9,455,554.44. This represents a 6.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.69% of the company's stock.

Martin Marietta Materials Trading Down 0.3%

Shares of NYSE MLM traded down $1.99 during trading hours on Friday, reaching $618.41. The stock had a trading volume of 630,860 shares, compared to its average volume of 469,737. Martin Marietta Materials, Inc. has a 52-week low of $441.95 and a 52-week high of $633.23. The firm has a market cap of $37.29 billion, a price-to-earnings ratio of 34.30, a P/E/G ratio of 5.53 and a beta of 0.94. The business's fifty day moving average price is $598.20 and its two-hundred day moving average price is $546.52. The company has a current ratio of 2.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.56.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The construction company reported $5.43 earnings per share for the quarter, missing the consensus estimate 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%.Martin Marietta Materials's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $4.76 EPS. Martin Marietta Materials has set its FY 2025 guidance at EPS. Analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

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

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.