HB Wealth Management LLC Sells 5,137 Shares of Martin Marietta Materials, Inc. $MLM

Key Points

• HB Wealth Management LLC has reduced its holdings in Martin Marietta Materials by 53.4%, selling 5,137 shares, leaving them with 4,486 shares valued at approximately $2.46 million.
• Martin Marietta Materials reported earnings of $5.43 per share, which was slightly below the expected $5.44, with a revenue of $1.81 billion compared to the anticipated $1.88 billion.
• The company increased its quarterly dividend to $0.83 per share from the previous $0.79, resulting in an annualized dividend of $3.32 and a yield of 0.5%.

HB Wealth Management LLC cut its holdings in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 53.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,486 shares of the construction company's stock after selling 5,137 shares during the period. HB Wealth Management LLC's holdings in Martin Marietta Materials were worth $2,463,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of MLM. Wealth Enhancement Advisory Services LLC boosted its holdings in Martin Marietta Materials by 6.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,654 shares of the construction company's stock worth $1,887,000 after buying an additional 227 shares during the period. Wellington Management Group LLP boosted its holdings in Martin Marietta Materials by 5.4% in the 4th quarter. Wellington Management Group LLP now owns 448 shares of the construction company's stock worth $231,000 after buying an additional 23 shares during the period. Fifth Third Wealth Advisors LLC boosted its holdings in Martin Marietta Materials by 7.0% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 914 shares of the construction company's stock worth $437,000 after buying an additional 60 shares during the period. Fiduciary Alliance LLC bought a new position in Martin Marietta Materials in the 1st quarter worth approximately $317,000. Finally, NBC Securities Inc. bought a new position in Martin Marietta Materials in the 1st quarter worth approximately $67,000. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Stock Performance

Martin Marietta Materials stock opened at $618.69 on Thursday. The firm's fifty day moving average price is $608.28 and its 200-day moving average price is $555.72. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.21 and a current ratio of 2.35. The stock has a market cap of $37.31 billion, a P/E ratio of 34.31, a price-to-earnings-growth ratio of 5.71 and a beta of 1.01. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $634.84.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted 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). The company had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.88 billion. Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. The business's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $4.76 EPS. Martin Marietta Materials has set its FY 2025 guidance at EPS. On average, equities research analysts expect 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 disclosed 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. The ex-dividend date was Tuesday, September 2nd. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. Martin Marietta Materials's dividend payout ratio is 18.41%.

Analyst Upgrades and Downgrades

MLM has been the subject of several analyst reports. DA Davidson raised their price objective on shares of Martin Marietta Materials from $625.00 to $700.00 and gave the stock a "buy" rating in a report on Monday, August 11th. Bank of America increased their target price 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. Morgan Stanley increased their target price on shares of Martin Marietta Materials from $576.00 to $605.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Raymond James Financial increased their target price on shares of Martin Marietta Materials from $600.00 to $645.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and issued a $525.00 target price (up from $515.00) on shares of Martin Marietta Materials in a research note on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $622.63.

Insider Buying and Selling at Martin Marietta Materials

In other news, Director Laree E. Perez sold 1,038 shares of the firm's stock in a transaction on Friday, August 8th. The shares were 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 in the company, valued at approximately $9,455,554.44. This trade represents a 6.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.69% 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.

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