Martin Marietta Materials, Inc. $MLM Shares Sold by Cramer Rosenthal Mcglynn LLC

Key Points

• Cramer Rosenthal Mcglynn LLC reduced its stake in Martin Marietta Materials by 9.4%, selling 1,349 shares to hold a total of 12,958 shares valued at approximately $6.2 million.
• Equities analysts have increased their price targets for Martin Marietta Materials, with Bank of America raising its target from $577 to $643, reflecting positive market sentiment.
• Martin Marietta Materials announced a quarterly dividend increase from $0.79 to $0.83 per share, with an ex-dividend date set for September 2nd, benefiting shareholders.

Cramer Rosenthal Mcglynn LLC trimmed its stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 9.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,958 shares of the construction company's stock after selling 1,349 shares during the period. Cramer Rosenthal Mcglynn LLC's holdings in Martin Marietta Materials were worth $6,196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of MLM. OneDigital Investment Advisors LLC boosted its position in Martin Marietta Materials by 1.9% in the fourth quarter. OneDigital Investment Advisors LLC now owns 1,020 shares of the construction company's stock valued at $527,000 after buying an additional 19 shares during the last quarter. Net Worth Advisory Group lifted its stake in Martin Marietta Materials by 2.2% during the 1st quarter. Net Worth Advisory Group now owns 993 shares of the construction company's stock valued at $475,000 after acquiring an additional 21 shares during the period. PDS Planning Inc boosted its holdings in shares of Martin Marietta Materials by 4.9% in the 1st quarter. PDS Planning Inc now owns 452 shares of the construction company's stock valued at $216,000 after acquiring an additional 21 shares during the last quarter. Financial Management Professionals Inc. boosted its holdings in shares of Martin Marietta Materials by 3.5% in the 1st quarter. Financial Management Professionals Inc. now owns 652 shares of the construction company's stock valued at $312,000 after acquiring an additional 22 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Martin Marietta Materials by 5.4% during the fourth quarter. Wellington Management Group LLP now owns 448 shares of the construction company's stock worth $231,000 after purchasing an additional 23 shares during the last quarter. Institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Price Performance

Shares of MLM stock traded down $4.18 during mid-day trading on Thursday, hitting $612.46. 292,824 shares of the stock were exchanged, compared to its average volume of 466,621. The firm has a fifty day moving average of $579.00 and a 200 day moving average of $535.03. 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, Inc. has a 52-week low of $441.95 and a 52-week high of $633.23. The company has a market cap of $36.94 billion, a PE ratio of 33.97, a price-to-earnings-growth ratio of 5.58 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted 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 firm had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.88 billion. Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%.The company's revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $4.76 earnings per share. Martin Marietta Materials has set its FY 2025 guidance at EPS. Research analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share 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. Investors of record on Tuesday, September 2nd will be issued a $0.83 dividend. This represents a $3.32 annualized dividend 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 payout ratio is presently 17.53%.

Analyst Upgrades and Downgrades

MLM has been the subject of a number of research reports. Raymond James Financial boosted their target price on shares of Martin Marietta Materials from $600.00 to $645.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $525.00 price target (up from $515.00) on shares of Martin Marietta Materials in a research report on Friday, August 8th. Morgan Stanley increased their price target on Martin Marietta Materials from $576.00 to $605.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. UBS Group raised Martin Marietta Materials from a "neutral" rating to a "buy" rating and increased their price target for the stock from $548.00 to $634.00 in a research report on Friday, May 16th. Finally, DA Davidson increased their price target on Martin Marietta Materials from $625.00 to $700.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. 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 MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $622.63.

Insider Buying and Selling

In other Martin Marietta Materials news, Director Laree E. Perez sold 1,038 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $613.32, for a total transaction of $636,626.16. Following the completion of the transaction, the director owned 15,417 shares of the company's stock, valued at $9,455,554.44. This represents a 6.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.69% of the company's stock.

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.