Concentric Capital Strategies LP Has $16.60 Million Stake in Martin Marietta Materials, Inc. $MLM

Key Points

• Concentric Capital Strategies LP increased its stake in Martin Marietta Materials by 492.1% in Q1, now holding 34,712 shares valued at approximately $16.6 million, making it the firm's 11th largest position.
• Multiple hedge funds have raised their positions in Martin Marietta, with AQR Capital Management increasing its stake by 47.9% and Amundi growing its holdings by 9.2%, indicating strong institutional confidence.
• Martin Marietta announced a dividend increase to $0.83 per share, up from $0.79, representing an annual yield of 0.5%, with a payout ratio of 18.41%.

Concentric Capital Strategies LP raised its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 492.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,712 shares of the construction company's stock after acquiring an additional 28,849 shares during the period. Martin Marietta Materials comprises approximately 1.6% of Concentric Capital Strategies LP's holdings, making the stock its 11th largest holding. Concentric Capital Strategies LP owned 0.06% of Martin Marietta Materials worth $16,597,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MLM. Aptus Capital Advisors LLC raised its holdings in Martin Marietta Materials by 257.8% in the 4th quarter. Aptus Capital Advisors LLC now owns 2,086 shares of the construction company's stock valued at $1,077,000 after acquiring an additional 1,503 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Martin Marietta Materials by 3.1% in the 4th quarter. Ameriprise Financial Inc. now owns 125,554 shares of the construction company's stock valued at $64,849,000 after acquiring an additional 3,820 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Martin Marietta Materials by 87.9% in the 4th quarter. BNP Paribas Financial Markets now owns 133,966 shares of the construction company's stock valued at $69,193,000 after acquiring an additional 62,687 shares in the last quarter. Benjamin Edwards Inc. raised its holdings in Martin Marietta Materials by 16.9% in the 4th quarter. Benjamin Edwards Inc. now owns 1,609 shares of the construction company's stock valued at $831,000 after acquiring an additional 233 shares in the last quarter. Finally, Baird Financial Group Inc. raised its holdings in Martin Marietta Materials by 56.4% in the 4th quarter. Baird Financial Group Inc. now owns 4,978 shares of the construction company's stock valued at $2,571,000 after acquiring an additional 1,796 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Bank of America upped their price target on Martin Marietta Materials from $577.00 to $643.00 and gave the company a "neutral" rating in a report on Tuesday, August 5th. DA Davidson upped their price objective on Martin Marietta Materials from $625.00 to $700.00 and gave the company a "buy" rating in a research note on Monday, August 11th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $525.00 price objective (up from $515.00) on shares of Martin Marietta Materials in a research note on Friday, August 8th. UBS Group upgraded Martin Marietta Materials from a "neutral" rating to a "buy" rating and upped their price objective for the company from $548.00 to $634.00 in a research note on Friday, May 16th. Finally, Wall Street Zen upgraded Martin Marietta Materials from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $622.63.

Insider Buying and Selling

In other news, Director Laree E. Perez sold 1,038 shares of the firm's stock in a transaction on Friday, August 8th. The stock was 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 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. Insiders own 0.69% of the company's stock.

Martin Marietta Materials Price Performance

NYSE MLM traded up $3.79 during trading hours on Friday, reaching $622.76. 311,202 shares of the company's stock were exchanged, compared to its average volume of 389,811. The stock has a market cap of $37.56 billion, a PE ratio of 34.54, a price-to-earnings-growth ratio of 5.64 and a beta of 0.94. Martin Marietta Materials, Inc. has a one year low of $441.95 and a one year high of $633.23. The firm has a fifty day moving average of $587.60 and a 200-day moving average of $538.81. 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 released its quarterly 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 business had revenue of $1.81 billion for the quarter, compared to the consensus estimate 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 was up 2.7% on a year-over-year basis. During the same quarter last year, the company earned $4.76 earnings per share. Martin Marietta Materials has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal 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. 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 is 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.