Heartwood Wealth Advisors LLC Makes New Investment in Martin Marietta Materials, Inc. $MLM

Key Points

• Heartwood Wealth Advisors LLC has acquired a new stake in Martin Marietta Materials, Inc., purchasing 413 shares valued at approximately $227,000 in the second quarter.
• Institutional investors own 95.04% of the stock, indicating strong institutional interest, with several firms increasing their stakes in the first quarter.
• Martin Marietta Materials has increased its quarterly dividend to $0.83 per share, up from the previous $0.79, reflecting a positive change in shareholder returns.

Heartwood Wealth Advisors LLC purchased a new stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 413 shares of the construction company's stock, valued at approximately $227,000.

Other hedge funds have also modified their holdings of the company. Wayfinding Financial LLC acquired a new stake in shares of Martin Marietta Materials in the 1st quarter valued at approximately $29,000. Chilton Capital Management LLC acquired a new position in Martin Marietta Materials during the first quarter worth $30,000. Zions Bancorporation National Association UT purchased a new stake in Martin Marietta Materials during the first quarter worth $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. increased its position in shares of 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 buying an additional 64 shares in the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Laree E. Perez sold 1,038 shares of Martin Marietta Materials stock in a transaction on Friday, August 8th. The stock was sold at an average price of $613.32, for a total value of $636,626.16. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.69% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. DA Davidson boosted their price objective on shares of Martin Marietta Materials from $625.00 to $700.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. Morgan Stanley upped their price target on shares of Martin Marietta Materials from $576.00 to $605.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Raymond James Financial raised their price objective 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. Stephens reaffirmed an "overweight" rating and issued a $700.00 target price on shares of Martin Marietta Materials in a research note on Monday, August 4th. Finally, Stifel Nicolaus raised their price target on Martin Marietta Materials from $609.00 to $637.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. Two investment 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's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $622.63.

Martin Marietta Materials Price Performance

MLM stock traded down $1.06 during trading on Friday, hitting $619.35. The stock had a trading volume of 156,212 shares, compared to its average volume of 467,040. The stock has a market cap of $37.35 billion, a price-to-earnings ratio of 34.35, a price-to-earnings-growth ratio of 5.53 and a beta of 0.94. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.21 and a current ratio of 2.35. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $633.23. The company's 50 day moving average price is $598.20 and its two-hundred day moving average price is $546.52.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The construction company reported $5.43 EPS for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $1.88 billion. During the same period in the prior year, the firm earned $4.76 EPS. Martin Marietta Materials's revenue for the quarter 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 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd will be issued a $0.83 dividend. The ex-dividend date is Tuesday, September 2nd. This is an increase from Martin Marietta Materials's previous quarterly dividend of $0.79. This represents a $3.32 dividend on an annualized basis and a yield of 0.5%. Martin Marietta Materials's payout ratio is 18.41%.

Martin Marietta Materials Company 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.