GC Wealth Management RIA LLC Invests $304,000 in Martin Marietta Materials, Inc. $MLM

Key Points

• GC Wealth Management RIA LLC has invested approximately $304,000 in Martin Marietta Materials, Inc., acquiring 553 shares during the second quarter.
• Analysts have raised price targets for Martin Marietta Materials, with Bank of America and DA Davidson setting new targets of $643.00 and $700.00 respectively, contributing to a consensus rating of "Moderate Buy."
• The company recently declared an increased quarterly dividend of $0.83 per share, reflecting an annualized dividend of $3.32 and a yield of 0.5%.

GC Wealth Management RIA LLC bought a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 553 shares of the construction company's stock, valued at approximately $304,000.

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

Analysts Set New Price Targets

Several research firms 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 company a "neutral" rating in a report on Tuesday, August 5th. DA Davidson upped their price target on shares of Martin Marietta Materials from $625.00 to $700.00 and gave the company a "buy" rating in a report on Monday, August 11th. Stifel Nicolaus upped their price target on shares of Martin Marietta Materials from $609.00 to $637.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. Wall Street Zen raised shares of Martin Marietta Materials from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Stephens reaffirmed an "overweight" rating and issued a $700.00 price target on shares of Martin Marietta Materials in a report on Monday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Martin Marietta Materials has a consensus rating of "Moderate Buy" and an average price target of $622.63.

Martin Marietta Materials Stock Down 1.8%

MLM stock opened at $618.69 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 1.21. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $634.84. The firm has a fifty day moving average price of $608.28 and a two-hundred day moving average price of $555.72. The firm has a market cap of $37.31 billion, a price-to-earnings ratio of 34.31, a PEG ratio of 5.71 and a beta of 1.01.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The construction company reported $5.43 EPS 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.76 EPS. Martin Marietta Materials has set its FY 2025 guidance at EPS. Research analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.83 per share. 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 was Tuesday, September 2nd. Martin Marietta Materials's payout ratio is currently 18.41%.

Insider Activity at Martin Marietta Materials

In other news, Director Laree E. Perez sold 1,038 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $613.32, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.69% 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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