Douglas Lane & Associates LLC Buys 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 increased its position in shares of 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 firm 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.

Other institutional investors and hedge funds also recently modified their holdings of the company. Focus Partners Wealth lifted its position in Martin Marietta Materials by 9.3% in the 4th quarter. Focus Partners Wealth now owns 4,042 shares of the construction company's stock valued at $2,088,000 after acquiring an additional 345 shares in the last quarter. OMERS ADMINISTRATION Corp increased its holdings in Martin Marietta Materials by 20.1% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 2,574 shares of the construction company's stock valued at $1,329,000 after buying an additional 431 shares during the period. Nuveen Asset Management LLC grew its holdings in shares of Martin Marietta Materials by 4.2% during the fourth quarter. Nuveen Asset Management LLC now owns 134,156 shares of the construction company's stock valued at $69,292,000 after buying an additional 5,402 shares during the last quarter. NorthRock Partners LLC boosted its holdings in Martin Marietta Materials by 89.1% in the fourth quarter. NorthRock Partners LLC now owns 796 shares of the construction company's stock valued at $411,000 after purchasing an additional 375 shares during the last quarter. Finally, Nomura Holdings Inc. raised its position in shares of Martin Marietta Materials by 209.2% in the fourth quarter. Nomura Holdings Inc. now owns 2,971 shares of the construction company's stock worth $1,535,000 after acquiring an additional 2,010 shares during the period. 95.04% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Martin Marietta Materials

In other Martin Marietta Materials news, Director Laree E. Perez sold 1,038 shares of the 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 approximately $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 can be accessed through this link. Company insiders own 0.69% of the company's stock.

Martin Marietta Materials Stock Down 0.4%

Shares of NYSE:MLM traded down $2.52 during trading on Friday, reaching $617.88. 144,378 shares of the stock were exchanged, compared to its average volume of 466,949. The firm has a market cap of $37.26 billion, a price-to-earnings ratio of 34.27, a price-to-earnings-growth ratio of 5.53 and a beta of 0.94. 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 fifty day moving average of $598.20 and a two-hundred day moving average of $546.52. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $633.23.

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). The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.88 billion. Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%.The firm's revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.76 EPS. 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 fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently declared 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 is a positive change from Martin Marietta Materials's previous quarterly dividend of $0.79. This represents a $3.32 dividend on an annualized basis and a yield of 0.5%. Martin Marietta Materials's payout ratio is 18.41%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MLM shares. Stephens reaffirmed an "overweight" rating and set a $700.00 price objective on shares of Martin Marietta Materials in a research report on Monday, August 4th. DA Davidson boosted 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 note on Monday, August 11th. Royal Bank Of Canada reissued a "sector perform" rating and set a $525.00 price objective (up previously from $515.00) on shares of Martin Marietta Materials in a report on Friday, August 8th. Wall Street Zen raised shares of Martin Marietta Materials from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Raymond James Financial upped 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 note on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, Martin Marietta Materials presently has a consensus rating of "Moderate Buy" and a consensus price target of $622.63.

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.