Connor Clark & Lunn Investment Management Ltd. Invests $216,000 in Martin Marietta Materials, Inc. $MLM

Key Points

• Connor Clark & Lunn Investment Management Ltd. has invested approximately $216,000 in Martin Marietta Materials, acquiring 451 shares of the company.
• Martin Marietta Materials recently reported quarterly earnings of $5.43 per share, missing analysts' expectations, alongside a revenue of $1.81 billion.
• The company has announced an increase in its quarterly dividend from $0.79 to $0.83 per share, reflecting a commitment to returning capital to shareholders.

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 451 shares of the construction company's stock, valued at approximately $216,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of Martin Marietta Materials by 58,570.5% during the 1st quarter. GAMMA Investing LLC now owns 697,592 shares of the construction company's stock worth $333,540,000 after acquiring an additional 696,403 shares in the last quarter. Alkeon Capital Management LLC boosted its stake in shares of Martin Marietta Materials by 46.6% during the 4th quarter. Alkeon Capital Management LLC now owns 771,198 shares of the construction company's stock worth $398,324,000 after acquiring an additional 245,000 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its stake in shares of Martin Marietta Materials by 39.2% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 659,363 shares of the construction company's stock worth $315,261,000 after acquiring an additional 185,731 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of 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 acquiring an additional 168,175 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Martin Marietta Materials by 6.6% during the 1st quarter. Principal Financial Group Inc. now owns 1,940,423 shares of the construction company's stock worth $927,775,000 after acquiring an additional 120,679 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Stock Down 1.4%

Shares of NYSE MLM opened at $599.3870 on Thursday. The firm has a market cap of $36.15 billion, a price-to-earnings ratio of 33.24, a price-to-earnings-growth ratio of 5.54 and a beta of 0.89. Martin Marietta Materials, Inc. has a 52-week low of $441.95 and a 52-week high of $633.23. The company's 50-day simple moving average is $570.92 and its 200-day simple moving average is $532.04. The company has a quick ratio of 1.21, a current ratio of 2.35 and a debt-to-equity ratio of 0.56.

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

Martin Marietta Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.83 per share. The ex-dividend date is Tuesday, September 2nd. This is a boost from Martin Marietta Materials's previous quarterly dividend of $0.79. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. Martin Marietta Materials's dividend payout ratio (DPR) is presently 17.53%.

Insiders Place Their Bets

In related news, Director Laree E. Perez sold 1,038 shares of the business's stock in a transaction dated 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 directly owned 15,417 shares in the company, 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 legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.69% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Royal Bank Of Canada reissued 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. DA Davidson lifted their target price on shares of Martin Marietta Materials from $625.00 to $700.00 and gave the company a "buy" rating in a research report on Monday, August 11th. Morgan Stanley lifted their target price on shares of Martin Marietta Materials from $576.00 to $605.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Bank of America lifted 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. Finally, Stifel Nicolaus lifted their target price on shares of Martin Marietta Materials from $609.00 to $637.00 and gave the company a "buy" rating in a research report on Tuesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $622.63.

About Martin Marietta Materials

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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