Canada Pension Plan Investment Board Has $7.17 Million Stock Holdings in Martin Marietta Materials, Inc. $MLM

Key Points

• Canada Pension Plan Investment Board has significantly reduced its holdings in Martin Marietta Materials, trimming its stake by 67.9% to 14,993 shares valued at approximately $7.17 million.
• Institutional investors have shown varying trends, with GAMMA Investing LLC increasing its stake by over 58,570%, now owning 697,592 shares valued at $333.54 million.
• Martin Marietta Materials recently increased its quarterly dividend from $0.79 to $0.83, representing an annualized amount of $3.32 and a dividend yield of 0.5%.

Canada Pension Plan Investment Board trimmed its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 67.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,993 shares of the construction company's stock after selling 31,780 shares during the period. Canada Pension Plan Investment Board's holdings in Martin Marietta Materials were worth $7,169,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in Martin Marietta Materials by 58,570.5% during the first quarter. GAMMA Investing LLC now owns 697,592 shares of the construction company's stock valued at $333,540,000 after buying an additional 696,403 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Martin Marietta Materials by 1,880.3% during the first quarter. American Century Companies Inc. now owns 369,382 shares of the construction company's stock valued at $176,613,000 after acquiring an additional 350,729 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Martin Marietta Materials by 10.1% in the 1st quarter. JPMorgan Chase & Co. now owns 2,944,694 shares of the construction company's stock valued at $1,407,947,000 after acquiring an additional 268,928 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its stake in Martin Marietta Materials by 39.2% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 659,363 shares of the construction company's stock worth $315,261,000 after purchasing an additional 185,731 shares during the period. Finally, Vanguard Group Inc. grew its position in Martin Marietta Materials by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 7,342,358 shares of the construction company's stock worth $3,510,602,000 after purchasing an additional 168,175 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company's stock.

Insider Activity

In related news, Director Laree E. Perez sold 1,038 shares of the company'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 completion of the sale, the director directly owned 15,417 shares in the company, valued at approximately $9,455,554.44. This represents a 6.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.68% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MLM. Raymond James Financial increased their target price on Martin Marietta Materials from $600.00 to $645.00 and gave the company an "outperform" rating in a report on Friday, August 8th. DA Davidson increased their price objective on Martin Marietta Materials from $625.00 to $700.00 and gave the stock a "buy" rating in a research note on Monday, August 11th. Stifel Nicolaus raised their price objective on Martin Marietta Materials from $609.00 to $637.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $525.00 target price (up previously from $515.00) on shares of Martin Marietta Materials in a report on Friday, August 8th. Finally, Wall Street Zen upgraded shares of Martin Marietta Materials from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $622.63.

Martin Marietta Materials Stock Down 0.2%

MLM opened at $614.93 on Wednesday. The company has a market capitalization of $37.09 billion, a PE ratio of 34.11, a price-to-earnings-growth ratio of 5.58 and a beta of 0.94. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 1.21. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $633.23. The business has a 50-day moving average of $583.10 and a 200-day moving average of $536.95.

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

Martin Marietta Materials Increases Dividend

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

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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