Goldman Sachs Group Inc. Has $449.03 Million Position in Martin Marietta Materials, Inc. $MLM

Key Points

• Goldman Sachs Group Inc. reduced its stake in Martin Marietta Materials by 3.8% in Q1, selling 37,572 shares, resulting in ownership of approximately 1.56% of the company, valued at $449 million.
• Martin Marietta Materials announced a quarterly dividend of $0.83, representing a yield of 0.5%, an increase from its previous dividend of $0.79.
• Wall Street analysts have a positive outlook for Martin Marietta Materials, with a consensus rating of "Moderate Buy" and an average price target of $622.63.

Goldman Sachs Group Inc. lessened its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 3.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 939,134 shares of the construction company's stock after selling 37,572 shares during the quarter. Goldman Sachs Group Inc. owned about 1.56% of Martin Marietta Materials worth $449,028,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MLM. Wayfinding Financial LLC bought a new stake in shares of Martin Marietta Materials in the first quarter worth about $29,000. Zions Bancorporation National Association UT acquired a new position in shares of Martin Marietta Materials during the first quarter worth about $30,000. Chilton Capital Management LLC acquired a new position in shares of Martin Marietta Materials during the first quarter worth about $30,000. IMA Advisory Services Inc. acquired a new position in shares of Martin Marietta Materials during the first quarter worth about $40,000. Finally, Valley National Advisers Inc. boosted its position 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 period. Institutional investors own 95.04% of the company's stock.

Analyst Upgrades and Downgrades

MLM has been the subject of several recent research reports. 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 research report on Friday, August 8th. Wall Street Zen upgraded Martin Marietta Materials from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Stephens restated an "overweight" rating and issued a $700.00 price target on shares of Martin Marietta Materials in a research note on Monday, August 4th. Morgan Stanley raised their price target on Martin Marietta Materials from $576.00 to $605.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Finally, Bank of America raised their price target on Martin Marietta Materials from $577.00 to $643.00 and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Martin Marietta Materials has an average rating of "Moderate Buy" and a consensus target price of $622.63.

Martin Marietta Materials Stock Performance

Shares of NYSE MLM traded down $14.51 during midday trading on Friday, hitting $616.61. 331,389 shares of the company's stock were exchanged, compared to its average volume of 362,800. The company has a quick ratio of 1.21, a current ratio of 2.35 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $633.23. The company's 50 day moving average price is $594.11 and its 200 day moving average price is $543.68. The firm has a market capitalization of $37.19 billion, a PE ratio of 34.20, a price-to-earnings-growth ratio of 5.58 and a beta of 0.94.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its 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). Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%.The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the firm posted $4.76 earnings per share. The business's revenue was up 2.7% compared to the same quarter last year. Martin Marietta Materials has set its FY 2025 guidance at EPS. As a group, analysts predict 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 announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.83 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. This is an increase from Martin Marietta Materials's previous quarterly dividend of $0.79. Martin Marietta Materials's dividend payout ratio is presently 18.41%.

Insider Activity at Martin Marietta Materials

In other news, Director Laree E. Perez sold 1,038 shares of Martin Marietta Materials 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 completion of the transaction, the director directly owned 15,417 shares in the company, valued at approximately $9,455,554.44. The trade was a 6.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate 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.