Callan Family Office LLC Boosts Holdings in Martin Marietta Materials, Inc. $MLM

Key Points

• Callan Family Office LLC significantly increased its holdings in Martin Marietta Materials by 423.4% during the second quarter, owning 2,732 shares valued at approximately $1.5 million at the end of the quarter.
• Martin Marietta Materials' shares have recently received upgrades from several brokerages, including a target price increase from $577 to $643 by Bank of America, and a general sentiment of "Moderate Buy" based on analyst ratings.
• The company announced a quarterly dividend of $0.83, representing a positive increase from the previous $0.79, which reflects a dividend yield of 0.5% and a payout ratio of 18.41%.

Callan Family Office LLC raised its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 423.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,732 shares of the construction company's stock after purchasing an additional 2,210 shares during the period. Callan Family Office LLC's holdings in Martin Marietta Materials were worth $1,500,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MLM. Wayfinding Financial LLC purchased a new position in Martin Marietta Materials during the first quarter valued at $29,000. Chilton Capital Management LLC acquired a new stake in shares of Martin Marietta Materials in the first quarter valued at about $30,000. Zions Bancorporation National Association UT acquired a new stake in shares of Martin Marietta Materials in the first quarter valued at about $30,000. IMA Advisory Services Inc. acquired a new stake in shares of Martin Marietta Materials in the first quarter valued at about $40,000. Finally, Valley National Advisers Inc. raised its position in shares of Martin Marietta Materials by 193.9% in the first quarter. Valley National Advisers Inc. now owns 97 shares of the construction company's stock valued at $45,000 after buying an additional 64 shares during the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on MLM. Wells Fargo & Company upgraded shares of Martin Marietta Materials to a "hold" rating in a research report on Wednesday. Bank of America increased 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 report on Tuesday, August 5th. Wall Street Zen upgraded shares of Martin Marietta Materials from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Stephens reiterated an "overweight" rating and issued a $700.00 target price on shares of Martin Marietta Materials in a research report on Monday, August 4th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Martin Marietta Materials in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Martin Marietta Materials has an average rating of "Moderate Buy" and an average price target of $621.69.

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 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 transaction, 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.69% of the stock is owned by insiders.

Martin Marietta Materials Trading Down 0.3%

NYSE MLM opened at $632.22 on Friday. The firm has a 50 day simple moving average of $615.86 and a 200-day simple moving average of $563.34. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.21 and a current ratio of 2.35. Martin Marietta Materials, Inc. has a one year low of $441.95 and a one year high of $640.00. The firm has a market cap of $38.13 billion, a price-to-earnings ratio of 35.06, a PEG ratio of 5.73 and a beta of 1.01.

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). Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%.The firm had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.88 billion. During the same quarter in the prior year, the firm earned $4.76 EPS. The firm's 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 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd were issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was 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 is presently 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.

Want to see what other hedge funds are holding MLM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Martin Marietta Materials, Inc. (NYSE:MLM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.