Hsbc Holdings PLC Sells 8,238 Shares of Martin Marietta Materials, Inc. $MLM

Key Points

• HSBC Holdings PLC reduced its stake in Martin Marietta Materials by 6.1%, selling 8,238 shares and now owning 126,750 shares valued at approximately $60.5 million.
• Multiple institutional investors have adjusted their holdings recently, contributing to a total institutional ownership of 95.04% of the company's stock.
• Martin Marietta Materials declared a quarterly dividend of $0.83 per share, increasing from the previous $0.79 and reflecting an annualized yield of 0.6%.

Hsbc Holdings PLC lessened its stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 6.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 126,750 shares of the construction company's stock after selling 8,238 shares during the quarter. Hsbc Holdings PLC owned about 0.21% of Martin Marietta Materials worth $60,504,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MLM. OneDigital Investment Advisors LLC grew its holdings in shares of Martin Marietta Materials by 1.9% in the fourth quarter. OneDigital Investment Advisors LLC now owns 1,020 shares of the construction company's stock valued at $527,000 after acquiring an additional 19 shares in the last quarter. Net Worth Advisory Group grew its holdings in shares of Martin Marietta Materials by 2.2% in the first quarter. Net Worth Advisory Group now owns 993 shares of the construction company's stock valued at $475,000 after acquiring an additional 21 shares in the last quarter. PDS Planning Inc grew its holdings in shares of Martin Marietta Materials by 4.9% in the first quarter. PDS Planning Inc now owns 452 shares of the construction company's stock valued at $216,000 after acquiring an additional 21 shares in the last quarter. Financial Management Professionals Inc. grew its holdings in shares of Martin Marietta Materials by 3.5% in the first quarter. Financial Management Professionals Inc. now owns 652 shares of the construction company's stock valued at $312,000 after acquiring an additional 22 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Martin Marietta Materials by 5.4% in the fourth quarter. Wellington Management Group LLP now owns 448 shares of the construction company's stock valued at $231,000 after acquiring an additional 23 shares in the last quarter. Institutional investors own 95.04% of the company's stock.

Insider Transactions at Martin Marietta Materials

In related news, Director Laree E. Perez sold 1,038 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $613.32, for a total transaction of $636,626.16. Following the transaction, the director owned 15,417 shares in the company, valued at $9,455,554.44. The trade was a 6.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.69% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MLM has been the subject of several research reports. Morgan Stanley increased their price objective on Martin Marietta Materials from $576.00 to $605.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Bank of America increased their price objective on Martin Marietta Materials from $577.00 to $643.00 and gave the company a "neutral" rating in a report on Tuesday, August 5th. Stifel Nicolaus increased their price objective on Martin Marietta Materials from $609.00 to $637.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. Raymond James Financial increased their price objective on Martin Marietta Materials from $600.00 to $645.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Finally, Wall Street Zen raised Martin Marietta Materials from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Martin Marietta Materials presently has a consensus rating of "Moderate Buy" and a consensus price target of $622.63.

Martin Marietta Materials Trading Up 0.0%

NYSE MLM opened at $600.8630 on Friday. The company has a market capitalization of $36.24 billion, a price-to-earnings ratio of 33.33, a PEG ratio of 5.48 and a beta of 0.89. The stock's 50-day simple moving average is $571.88 and its two-hundred day simple moving average is $532.49. 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 twelve month low of $441.95 and a twelve month high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its quarterly earnings data 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 company had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.88 billion. During the same quarter in the prior year, the firm posted $4.76 EPS. The firm's quarterly revenue was up 2.7% on a year-over-year basis. Martin Marietta Materials has set its FY 2025 guidance at EPS. Research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.83 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. This is a boost from Martin Marietta Materials's previous quarterly dividend of $0.79. Martin Marietta Materials's dividend payout ratio (DPR) is presently 17.53%.

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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