Martin Marietta Materials, Inc. $MLM Shares Acquired by Douglass Winthrop Advisors LLC

Key Points

• Douglass Winthrop Advisors LLC increased its stake in Martin Marietta Materials, acquiring an additional 24,683 shares, raising their ownership to 222,445 shares after a 12.5% increase in the first quarter.
• The company has recently increased its quarterly dividend to $0.83 per share, up from $0.79, which represents an annualized dividend of $3.32 and a yield of 0.5%.
• Bank of America and other analysts have raised their price targets for Martin Marietta Materials, with a consensus target of approximately $622.63 and a general rating of "Moderate Buy."

Douglass Winthrop Advisors LLC lifted its stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 12.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 222,445 shares of the construction company's stock after buying an additional 24,683 shares during the period. Martin Marietta Materials makes up 2.0% of Douglass Winthrop Advisors LLC's portfolio, making the stock its 20th biggest position. Douglass Winthrop Advisors LLC owned 0.37% of Martin Marietta Materials worth $106,358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of MLM. OneDigital Investment Advisors LLC boosted its holdings in Martin Marietta Materials by 1.9% in the fourth quarter. OneDigital Investment Advisors LLC now owns 1,020 shares of the construction company's stock valued at $527,000 after purchasing an additional 19 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in Martin Marietta Materials by 23.9% in the fourth quarter. Hsbc Holdings PLC now owns 134,988 shares of the construction company's stock valued at $69,778,000 after purchasing an additional 26,055 shares during the last quarter. Dark Forest Capital Management LP boosted its holdings in Martin Marietta Materials by 91.6% in the fourth quarter. Dark Forest Capital Management LP now owns 960 shares of the construction company's stock valued at $496,000 after purchasing an additional 459 shares during the last quarter. Nebula Research & Development LLC purchased a new position in Martin Marietta Materials in the fourth quarter valued at about $932,000. Finally, Gilder Gagnon Howe & Co. LLC boosted its holdings in Martin Marietta Materials by 5.2% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 66,572 shares of the construction company's stock valued at $34,384,000 after purchasing an additional 3,263 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Stock Performance

NYSE:MLM traded down $2.8910 during trading hours on Monday, reaching $604.9990. 318,458 shares of the stock were exchanged, compared to its average volume of 440,196. The company has a quick ratio of 1.21, a current ratio of 2.35 and a debt-to-equity ratio of 0.56. The firm has a 50 day simple moving average of $574.43 and a 200-day simple moving average of $533.31. The stock has a market capitalization of $36.49 billion, a P/E ratio of 33.56, a P/E/G ratio of 5.54 and a beta of 0.89. Martin Marietta Materials, Inc. has a 52 week low of $441.95 and a 52 week high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced 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 company had revenue of $1.81 billion for the quarter, compared to analyst estimates 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 for the quarter was up 2.7% compared to the same quarter last year. During the same quarter 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, sell-side 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Tuesday, September 2nd. This is a positive change from Martin Marietta Materials's previous quarterly dividend of $0.79. Martin Marietta Materials's payout ratio is currently 17.53%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MLM. DA Davidson increased their price target on Martin Marietta Materials from $625.00 to $700.00 and gave the company a "buy" rating in a report on Monday, August 11th. UBS Group raised Martin Marietta Materials from a "neutral" rating to a "buy" rating and increased their price target for the company from $548.00 to $634.00 in a report on Friday, May 16th. Raymond James Financial increased their price target on Martin Marietta Materials from $600.00 to $645.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Stephens reissued an "overweight" rating and issued a $700.00 price target on shares of Martin Marietta Materials in a report on Monday, August 4th. Finally, Royal Bank Of Canada restated a "sector perform" rating and set a $525.00 price objective (up previously from $515.00) on shares of Martin Marietta Materials in a research note on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $622.63.

Insider Buying and Selling 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 stock was 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 in the company, valued at approximately $9,455,554.44. This represents a 6.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.