Douglas Lane & Associates LLC Acquires 5,439 Shares of Martin Marietta Materials, Inc. $MLM

Key Points

• Douglas Lane & Associates LLC increased its holdings in Martin Marietta Materials by 15.1%, acquiring an additional 5,439 shares during the second quarter, bringing their total ownership to 41,558 shares valued at approximately $22.8 million.
• Analysts have expressed a positive outlook for the company, with multiple firms raising their price targets, including a recent increase from DA Davidson from $625 to $700 and several "buy" ratings issued.
• Martin Marietta has announced a dividend increase from $0.79 to $0.83 per share, with a record date of September 2nd and a payout on September 30th, representing a 0.5% dividend yield.

Douglas Lane & Associates LLC raised its holdings in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 15.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 41,558 shares of the construction company's stock after buying an additional 5,439 shares during the quarter. Douglas Lane & Associates LLC owned about 0.07% of Martin Marietta Materials worth $22,814,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Wayfinding Financial LLC bought a new stake in shares of Martin Marietta Materials during the first quarter valued at approximately $29,000. Zions Bancorporation National Association UT bought a new stake in shares of Martin Marietta Materials during the first quarter valued at approximately $30,000. Chilton Capital Management LLC bought a new stake in shares of Martin Marietta Materials during the first quarter valued at approximately $30,000. IMA Advisory Services Inc. bought a new stake in shares of Martin Marietta Materials during the first quarter valued at approximately $40,000. Finally, Valley National Advisers Inc. boosted its position in shares of Martin Marietta Materials by 193.9% during the first quarter. Valley National Advisers Inc. now owns 97 shares of the construction company's stock valued at $45,000 after purchasing an additional 64 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MLM has been the topic of several research reports. DA Davidson lifted their price target on Martin Marietta Materials from $625.00 to $700.00 and gave the company a "buy" rating in a research report on Monday, August 11th. Stephens reiterated an "overweight" rating and set a $700.00 price objective on shares of Martin Marietta Materials in a research note on Monday, August 4th. Raymond James Financial lifted their price objective on Martin Marietta Materials from $600.00 to $645.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Stifel Nicolaus lifted their price objective on Martin Marietta Materials from $609.00 to $637.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. Finally, Wall Street Zen upgraded Martin Marietta Materials from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $622.63.

Martin Marietta Materials Stock Down 2.3%

MLM stock opened at $616.61 on Friday. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $633.23. The business has a fifty day moving average price of $594.11 and a 200-day moving average price of $543.25. 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 stock has a market capitalization of $37.19 billion, a P/E ratio of 34.20, a P/E/G ratio of 5.72 and a beta of 0.94.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The construction company reported $5.43 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.88 billion. During the same quarter in the prior year, the firm earned $4.76 EPS. The firm'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. Equities analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd will be paid a $0.83 dividend. This is an increase from Martin Marietta Materials's previous quarterly dividend of $0.79. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Tuesday, September 2nd. Martin Marietta Materials's dividend payout ratio (DPR) is presently 18.41%.

Insider Buying and Selling at Martin Marietta Materials

In other news, Director Laree E. Perez sold 1,038 shares of the business's stock in a transaction on Friday, August 8th. The stock was 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 in the company, valued at $9,455,554.44. The trade was 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 corporate insiders.

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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