Cypress Wealth Services LLC Takes Position in Martin Marietta Materials, Inc. $MLM

Key Points

• Cypress Wealth Services LLC acquired a new stake in Martin Marietta Materials, purchasing 417 shares valued at approximately $229,000 in the second quarter.
• The company recently increased its quarterly dividend from $0.79 to $0.83 per share, reflecting a 0.5% yield and a payout ratio of 18.41%.
• Analysts maintain a consensus rating of "Moderate Buy" for Martin Marietta Materials, with a price target of $621.69, following various upgrades from multiple research firms.

Cypress Wealth Services LLC purchased a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 417 shares of the construction company's stock, valued at approximately $229,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. PDS Planning Inc boosted its holdings in shares of Martin Marietta Materials by 4.9% during the first 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 period. MassMutual Private Wealth & Trust FSB lifted its holdings in Martin Marietta Materials by 1.8% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,205 shares of the construction company's stock worth $661,000 after purchasing an additional 21 shares during the period. First American Bank lifted its holdings in Martin Marietta Materials by 1.3% in the first quarter. First American Bank now owns 1,966 shares of the construction company's stock worth $940,000 after purchasing an additional 25 shares during the period. Valley National Advisers Inc. lifted its holdings in Martin Marietta Materials by 25.8% in the second quarter. Valley National Advisers Inc. now owns 122 shares of the construction company's stock worth $66,000 after purchasing an additional 25 shares during the period. Finally, Trust Investment Advisors lifted its holdings in Martin Marietta Materials by 1.4% in the first quarter. Trust Investment Advisors now owns 1,843 shares of the construction company's stock worth $881,000 after purchasing an additional 26 shares during the period. Institutional investors and hedge funds own 95.04% of the company's stock.

Martin Marietta Materials Price Performance

Shares of NYSE MLM opened at $656.44 on Wednesday. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $657.36. The company has a current ratio of 2.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $39.59 billion, a price-to-earnings ratio of 36.41, a PEG ratio of 5.79 and a beta of 1.01. The firm has a 50-day moving average of $617.58 and a two-hundred day moving average of $565.65.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued 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 during 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%. Martin Marietta Materials's revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $4.76 earnings per share. Martin Marietta Materials has set its FY 2025 guidance at EPS. As a group, analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MLM shares. Stephens reaffirmed an "overweight" rating and issued a $700.00 price objective on shares of Martin Marietta Materials in a report on Monday, August 4th. DA Davidson upped their price objective on shares of Martin Marietta Materials from $625.00 to $700.00 and gave the stock a "buy" rating in a report on Monday, August 11th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $525.00 price objective (up previously from $515.00) on shares of Martin Marietta Materials in a report on Friday, August 8th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Martin Marietta Materials in a report on Wednesday, October 8th. Finally, Wells Fargo & Company raised shares of Martin Marietta Materials to a "hold" rating in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $621.69.

Insider Transactions at Martin Marietta Materials

In other Martin Marietta Materials news, Director Laree E. Perez sold 1,038 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $613.32, for a total transaction of $636,626.16. Following the sale, the director owned 15,417 shares in the company, valued at approximately $9,455,554.44. The trade was a 6.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.68% of the company's stock.

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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