Corient IA LLC Takes $478,000 Position in Martin Marietta Materials, Inc. $MLM

Key Points

• Corient IA LLC acquired a new stake in Martin Marietta Materials, purchasing 1,000 shares valued at approximately $478,000 in the first quarter.
• Several institutional investors have significantly increased their stakes, with GAMMA Investing LLC raising its position by 58,570.5%, resulting in ownership of 697,592 shares worth $333.54 million.
• The company announced a quarterly dividend increase from $0.79 to $0.83 per share, reflecting a positive change for shareholders.

Corient IA LLC bought a new position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 1,000 shares of the construction company's stock, valued at approximately $478,000.

Several other hedge funds have also made changes to their positions in MLM. Mariner LLC lifted its holdings in shares of Martin Marietta Materials by 34.7% in the 4th quarter. Mariner LLC now owns 9,943 shares of the construction company's stock worth $5,135,000 after buying an additional 2,560 shares during the period. XTX Topco Ltd purchased a new stake in shares of Martin Marietta Materials in the 4th quarter worth $353,000. Jump Financial LLC lifted its holdings in shares of Martin Marietta Materials by 11.8% in the 4th quarter. Jump Financial LLC now owns 1,688 shares of the construction company's stock worth $872,000 after buying an additional 178 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Martin Marietta Materials by 13.1% in the 4th quarter. NewEdge Advisors LLC now owns 2,462 shares of the construction company's stock worth $1,272,000 after buying an additional 286 shares during the period. Finally, Farringdon Capital Ltd. purchased a new stake in shares of Martin Marietta Materials in the 4th quarter worth $324,000. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Up 0.0%

NYSE:MLM traded up $0.2630 during mid-day trading on Thursday, hitting $600.8630. 335,914 shares of the company's stock traded hands, compared to its average volume of 479,291. The company has a fifty day moving average of $570.92 and a 200 day moving average of $532.04. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $633.23. The company has a market capitalization of $36.24 billion, a P/E ratio of 33.33, a P/E/G ratio of 5.54 and a beta of 0.89. 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 (NYSE:MLM - Get Free Report) last announced its earnings results on Thursday, August 7th. The construction company reported $5.43 earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 16.47% and a return on equity of 11.88%. The company's quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $4.76 earnings per share. Martin Marietta Materials has set its FY 2025 guidance at EPS. On average, analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd will be issued a $0.83 dividend. 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 dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. Martin Marietta Materials's dividend payout ratio is currently 17.53%.

Wall Street Analysts Forecast Growth

MLM has been the subject of several research reports. Stifel Nicolaus upped their target price on Martin Marietta Materials from $609.00 to $637.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Royal Bank Of Canada restated a "sector perform" rating and set a $525.00 price objective (up from $515.00) on shares of Martin Marietta Materials in a research note on Friday, August 8th. DA Davidson upped 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. Raymond James Financial upped their price objective on Martin Marietta Materials from $600.00 to $645.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Finally, Stephens restated an "overweight" rating and set a $700.00 price objective on shares of Martin Marietta Materials in a research note on Monday, August 4th. Two investment 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 stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $622.63.

Insider Buying and Selling at Martin Marietta Materials

In other news, Director Laree E. Perez sold 1,038 shares of the stock in a transaction dated 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 of the company's stock, 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 Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.69% of the company's stock.

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.