Credit Agricole S A Has $29.45 Million Position in Martin Marietta Materials, Inc. $MLM

Key Points

• Credit Agricole S A increased its stake in Martin Marietta Materials by 14.4% after purchasing an additional 7,775 shares, bringing their total ownership to approximately $29.45 million.
• Martin Marietta Materials reported $5.43 earnings per share for the latest quarter, slightly missing analysts' expectations and showing a 2.7% year-over-year revenue increase.
• The company announced a quarterly dividend increase from $0.79 to $0.83, representing a 0.5% yield, with record shareholders to be paid on September 30th.

Credit Agricole S A lifted its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 14.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,597 shares of the construction company's stock after acquiring an additional 7,775 shares during the quarter. Credit Agricole S A owned about 0.10% of Martin Marietta Materials worth $29,451,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Sunbeam Capital Management LLC acquired a new position in shares of Martin Marietta Materials during the fourth quarter valued at approximately $235,000. Waverly Advisors LLC increased its stake in shares of Martin Marietta Materials by 78.9% during the fourth quarter. Waverly Advisors LLC now owns 1,041 shares of the construction company's stock valued at $538,000 after acquiring an additional 459 shares during the period. Mather Group LLC. increased its stake in shares of Martin Marietta Materials by 65.5% during the first quarter. Mather Group LLC. now owns 278 shares of the construction company's stock valued at $133,000 after acquiring an additional 110 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Martin Marietta Materials by 1.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,007 shares of the construction company's stock valued at $1,457,000 after acquiring an additional 40 shares during the period. Finally, Vontobel Holding Ltd. increased its stake in shares of Martin Marietta Materials by 30.5% during the first quarter. Vontobel Holding Ltd. now owns 933 shares of the construction company's stock valued at $446,000 after acquiring an additional 218 shares during the period. Institutional investors and hedge funds own 95.04% of the company's stock.

Insider Buying and Selling

In related news, Director Laree E. Perez sold 1,038 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $613.32, for a total value of $636,626.16. Following the completion of the transaction, the director owned 15,417 shares of the company's stock, valued at approximately $9,455,554.44. This trade represents a 6.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.69% of the company's stock.

Martin Marietta Materials Trading Up 1.0%

Martin Marietta Materials stock traded up $6.2940 during midday trading on Friday, reaching $607.0340. The stock had a trading volume of 363,773 shares, compared to its average volume of 433,691. The firm's fifty day simple moving average is $573.18 and its two-hundred day simple moving average is $532.93. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $633.23. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 1.21. The firm has a market cap of $36.61 billion, a price-to-earnings ratio of 33.67, a PEG ratio of 5.54 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The construction company reported $5.43 EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the business posted $4.76 EPS. The company'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. Equities analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS 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. Investors of record on Tuesday, September 2nd will be paid a $0.83 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $3.32 dividend on an annualized basis and a yield of 0.5%. This is a positive change from Martin Marietta Materials's previous quarterly dividend of $0.79. Martin Marietta Materials's dividend payout ratio (DPR) is 17.53%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Stifel Nicolaus lifted their price target on shares of Martin Marietta Materials from $609.00 to $637.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. DA Davidson lifted their price target on shares of Martin Marietta Materials from $625.00 to $700.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. Royal Bank Of Canada restated a "sector perform" rating and issued a $525.00 price target (up previously from $515.00) on shares of Martin Marietta Materials in a research report on Friday, August 8th. Morgan Stanley lifted their price target on shares of Martin Marietta Materials from $576.00 to $605.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Finally, Wall Street Zen upgraded shares of Martin Marietta Materials from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $622.63.

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.