Franklin Street Advisors Inc. NC Buys 15,970 Shares of Martin Marietta Materials, Inc. $MLM

Key Points

• Franklin Street Advisors Inc. increased its holdings in Martin Marietta Materials by 72.9%, acquiring an additional 15,970 shares, totaling nearly $21 million in the company's stock.
• Martin Marietta Materials recently declared a quarterly dividend of $0.83, up from the previous $0.79, reflecting a dividend yield of approximately 0.5%.
• Analysts have provided mixed ratings, with Bank of America raising its price target for the stock from $577 to $643, while DA Davidson set a target price of $700 with a "buy" rating.

Franklin Street Advisors Inc. NC increased its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 72.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,884 shares of the construction company's stock after buying an additional 15,970 shares during the period. Franklin Street Advisors Inc. NC owned 0.06% of Martin Marietta Materials worth $20,797,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Wayfinding Financial LLC bought a new stake in shares of Martin Marietta Materials during the first quarter worth approximately $29,000. Zions Bancorporation National Association UT bought a new stake in shares of Martin Marietta Materials during the first quarter worth approximately $30,000. Chilton Capital Management LLC bought a new stake in shares of Martin Marietta Materials during the first quarter worth approximately $30,000. IMA Advisory Services Inc. bought a new stake in shares of Martin Marietta Materials during the first quarter worth approximately $40,000. Finally, Valley National Advisers Inc. raised its stake 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 worth $45,000 after buying an additional 64 shares during the last quarter. 95.04% of the stock is owned by institutional investors.

Insider Buying and Selling at Martin Marietta Materials

In other news, Director Laree E. Perez sold 1,038 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were 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. This represents a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.69% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MLM shares. Bank of America boosted 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 note on Tuesday, August 5th. 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. DA Davidson upped their target price on shares of Martin Marietta Materials from $625.00 to $700.00 and gave the company a "buy" rating in a research note on Monday, August 11th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $525.00 target price (up previously 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 Saturday, September 27th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $622.63.

Martin Marietta Materials Stock Up 1.2%

Martin Marietta Materials stock opened at $635.61 on Friday. The stock has a market capitalization of $38.33 billion, a PE ratio of 35.25, a price-to-earnings-growth ratio of 5.69 and a beta of 1.01. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $637.36. 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 company has a 50 day moving average of $610.18 and a 200-day moving average of $557.70.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released 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 company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.88 billion. Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. The firm's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $4.76 EPS. Martin Marietta Materials has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS 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 issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. This is a boost from Martin Marietta Materials's previous quarterly dividend of $0.79. The ex-dividend date was Tuesday, September 2nd. Martin Marietta Materials's dividend payout ratio is currently 18.41%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.