Drive Wealth Management LLC Makes New Investment in Martin Marietta Materials, Inc. $MLM

Key Points

• Drive Wealth Management LLC has acquired a new position in Martin Marietta Materials, purchasing 420 shares valued at approximately $230,000.
• The company recently increased its quarterly dividend from $0.79 to $0.83 per share, yielding 0.5% annually.
• Martin Marietta reported Q2 earnings of $5.43 per share, slightly missing the consensus estimate, with revenues of $1.81 billion, up 2.7% year-over-year.

Drive Wealth Management LLC acquired a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 420 shares of the construction company's stock, valued at approximately $230,000.

Several other institutional investors and hedge funds have also modified their holdings of MLM. Canvas Wealth Advisors LLC bought a new stake in Martin Marietta Materials during the 2nd quarter worth approximately $226,000. Stephens Inc. AR boosted its stake in Martin Marietta Materials by 5.8% in the second quarter. Stephens Inc. AR now owns 48,377 shares of the construction company's stock worth $26,557,000 after purchasing an additional 2,649 shares in the last quarter. Salomon & Ludwin LLC grew its holdings in shares of Martin Marietta Materials by 156.7% during the second quarter. Salomon & Ludwin LLC now owns 77 shares of the construction company's stock worth $43,000 after purchasing an additional 47 shares during the last quarter. Chicago Partners Investment Group LLC increased its stake in shares of Martin Marietta Materials by 10.1% in the second quarter. Chicago Partners Investment Group LLC now owns 467 shares of the construction company's stock valued at $269,000 after buying an additional 43 shares in the last quarter. Finally, Huntleigh Advisors Inc. bought a new position in shares of Martin Marietta Materials in the second quarter valued at about $2,405,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Up 0.3%

Shares of NYSE:MLM opened at $627.19 on Tuesday. 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 cap of $37.83 billion, a price-to-earnings ratio of 34.79, a P/E/G ratio of 5.67 and a beta of 1.01. The company has a 50 day moving average of $619.68 and a 200-day moving average of $570.36. Martin Marietta Materials, Inc. has a one year low of $441.95 and a one year high of $665.18.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings data 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 net margin of 16.47% and a return on equity of 11.88%. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the prior year, the company earned $4.76 earnings per share. The company's quarterly revenue was up 2.7% on a year-over-year basis. Martin Marietta Materials has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd were paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend 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 (DPR) is 18.41%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MLM. Bank of America upped their price target on shares of Martin Marietta Materials from $577.00 to $643.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $525.00 target price (up from $515.00) on shares of Martin Marietta Materials in a research report on Friday, August 8th. Raymond James Financial increased their price target 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. Stephens restated an "overweight" rating and issued a $700.00 price objective on shares of Martin Marietta Materials in a research report on Monday, August 4th. Finally, Barclays upped their price objective on Martin Marietta Materials from $600.00 to $675.00 and gave the stock an "overweight" rating in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $626.38.

Insiders Place Their Bets

In other news, Director Laree E. Perez sold 1,038 shares of the firm'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 of the company's stock, valued at $9,455,554.44. This trade represents a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.68% of the company's stock.

Martin Marietta Materials 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.

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