D.A. Davidson & CO. Has $7.96 Million Position in Martin Marietta Materials, Inc. $MLM

D.A. Davidson & CO. grew its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 6.3% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 14,504 shares of the construction company's stock after buying an additional 857 shares during the period. D.A. Davidson & CO.'s holdings in Martin Marietta Materials were worth $7,962,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Mather Group LLC. increased its stake in Martin Marietta Materials by 65.5% in 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 Martin Marietta Materials by 1.3% in 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. Vontobel Holding Ltd. increased its stake in Martin Marietta Materials by 30.5% in 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. Wealth Enhancement Advisory Services LLC increased its stake in Martin Marietta Materials by 41.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,159 shares of the construction company's stock valued at $2,467,000 after acquiring an additional 1,505 shares during the period. Finally, Spire Wealth Management increased its stake in Martin Marietta Materials by 64.0% in the first quarter. Spire Wealth Management now owns 1,250 shares of the construction company's stock valued at $598,000 after acquiring an additional 488 shares during the period. Institutional investors and hedge funds own 95.04% of the company's stock.

Insider Activity at Martin Marietta Materials

In other news, Director Laree E. Perez sold 1,038 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $613.32, for a total transaction of $636,626.16. Following the sale, the director directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.69% of the stock is owned by company insiders.

Martin Marietta Materials Price Performance

Shares of Martin Marietta Materials stock opened at $619.49 on Friday. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $665.18. 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 firm's 50-day moving average price is $620.15 and its two-hundred day moving average price is $572.25. The stock has a market capitalization of $37.36 billion, a price-to-earnings ratio of 34.36, a P/E/G ratio of 5.62 and a beta of 1.01.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The construction company reported $5.43 EPS for the quarter, missing the consensus estimate of $5.44 by ($0.01). Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period last year, the company earned $4.76 earnings per share. Martin Marietta Materials's revenue for the quarter was up 2.7% compared to the same quarter last year. Martin Marietta Materials has set its FY 2025 guidance at EPS. On average, equities analysts predict 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 declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. This is an increase from Martin Marietta Materials's previous quarterly dividend of $0.79. The ex-dividend date of this dividend was Tuesday, September 2nd. Martin Marietta Materials's payout ratio is currently 18.41%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MLM. Stifel Nicolaus upped 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 note on Tuesday, August 12th. Bank of America upped 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 note on Tuesday, August 5th. Stephens reaffirmed an "overweight" rating and set a $700.00 price objective on shares of Martin Marietta Materials in a research note on Monday, August 4th. Royal Bank Of Canada reaffirmed 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. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Martin Marietta Materials in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $628.56.

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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