Concurrent Investment Advisors LLC Makes New Investment in Martin Marietta Materials, Inc. $MLM

Key Points

• Concurrent Investment Advisors LLC has made a new investment in Martin Marietta Materials, Inc., acquiring 980 shares valued at approximately $538,000 during the second quarter.
• Martin Marietta Materials recently increased its quarterly dividend to $0.83 from $0.79, marking a 0.5% yield for shareholders.
• The company reported quarterly earnings per share of $5.43, slightly missing analysts' expectations, with revenue of $1.81 billion compared to an expected $1.88 billion.

Concurrent Investment Advisors LLC bought a new position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 980 shares of the construction company's stock, valued at approximately $538,000.

A number of other hedge funds have also added to or reduced their stakes in MLM. American Century Companies Inc. increased its holdings in Martin Marietta Materials by 1,880.3% in the first quarter. American Century Companies Inc. now owns 369,382 shares of the construction company's stock worth $176,613,000 after purchasing an additional 350,729 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Martin Marietta Materials by 10.1% in the first 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 during the period. Diamond Hill Capital Management Inc. grew its stake in Martin Marietta Materials by 39.2% in the first quarter. Diamond Hill Capital Management Inc. now owns 659,363 shares of the construction company's stock valued at $315,261,000 after acquiring an additional 185,731 shares during the period. Vanguard Group Inc. grew its stake in Martin Marietta Materials by 2.3% in the first quarter. Vanguard Group Inc. now owns 7,342,358 shares of the construction company's stock valued at $3,510,602,000 after acquiring an additional 168,175 shares during the period. Finally, Nuveen LLC acquired a new stake in Martin Marietta Materials in the first quarter valued at approximately $73,020,000. 95.04% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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 stock was sold at an average price of $613.32, for a total value of $636,626.16. Following the transaction, the director 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.69% of the company's stock.

Martin Marietta Materials Stock Up 0.3%

MLM stock opened at $625.84 on Friday. The stock's fifty day simple moving average is $619.15 and its two-hundred day simple moving average is $568.15. 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, Inc. has a 1-year low of $441.95 and a 1-year high of $665.18. The stock has a market cap of $37.74 billion, a P/E ratio of 34.71, a P/E/G ratio of 5.66 and a beta of 1.01.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings data 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). Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%.The business had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.88 billion. During the same period in the prior year, the firm posted $4.76 EPS. The firm's revenue for the quarter was up 2.7% on a year-over-year basis. 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 year.

Martin Marietta Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd were given a $0.83 dividend. This is an increase from Martin Marietta Materials's previous quarterly dividend of $0.79. This represents a $3.32 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Tuesday, September 2nd. Martin Marietta Materials's payout ratio is presently 18.41%.

Wall Street Analyst Weigh In

A number of brokerages have commented on MLM. 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 note on Tuesday, August 12th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $525.00 price objective (up previously from $515.00) on shares of Martin Marietta Materials in a research note on Friday, August 8th. Wells Fargo & Company raised Martin Marietta Materials to a "hold" rating in a research note on Wednesday, October 8th. 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 note on Monday, July 28th. Finally, Wall Street Zen raised 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 five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $621.69.

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.

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