Martin Marietta Materials, Inc. $MLM Shares Acquired by Huber Capital Management LLC

Key Points

• Huber Capital Management LLC increased its stake in Martin Marietta Materials by 40.2%, now owning 2,792 shares valued at approximately $1,335,000.
• Analysts have set a consensus target price of $622.63 for Martin Marietta Materials, with ratings ranging from "Strong Buy" to "Hold."
• The company recently announced a quarterly dividend increase to $0.83, up from $0.79, marking a dividend yield of 0.5%.

Huber Capital Management LLC lifted its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 40.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,792 shares of the construction company's stock after acquiring an additional 800 shares during the period. Huber Capital Management LLC's holdings in Martin Marietta Materials were worth $1,335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new stake in Martin Marietta Materials during the 1st quarter worth about $29,000. Zions Bancorporation National Association UT acquired a new stake in shares of Martin Marietta Materials during the 1st quarter valued at about $30,000. Chilton Capital Management LLC acquired a new stake in shares of Martin Marietta Materials during the 1st quarter valued at about $30,000. IMA Advisory Services Inc. acquired a new stake in shares of Martin Marietta Materials during the 1st quarter valued at about $40,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Martin Marietta Materials during the 4th quarter valued at about $47,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on MLM shares. Bank of America raised their target price on Martin Marietta Materials from $577.00 to $643.00 and gave the company a "neutral" rating in a research report on Tuesday, August 5th. DA Davidson raised their target price on Martin Marietta Materials from $625.00 to $700.00 and gave the company a "buy" rating in a research report on Monday, August 11th. Raymond James Financial raised their price target on shares of Martin Marietta Materials from $600.00 to $645.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $525.00 price target (up from $515.00) on shares of Martin Marietta Materials in a research note on Friday, August 8th. Finally, Wall Street Zen raised shares of Martin Marietta Materials from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Two 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 company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $622.63.

Martin Marietta Materials Price Performance

MLM traded up $4.06 during trading on Monday, reaching $616.35. The company's stock had a trading volume of 368,630 shares, compared to its average volume of 450,548. The company has a quick ratio of 1.21, a current ratio of 2.35 and a debt-to-equity ratio of 0.56. The firm has a fifty day simple moving average of $580.58 and a two-hundred day simple moving average of $535.78. Martin Marietta Materials, Inc. has a 1 year low of $441.95 and a 1 year high of $633.23. The company has a market cap of $37.17 billion, a price-to-earnings ratio of 34.18, a PEG ratio of 5.58 and a beta of 0.94.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its earnings results on Thursday, August 7th. The construction company reported $5.43 earnings per share for the quarter, missing analysts' consensus estimates of $5.44 by ($0.01). The business had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.88 billion. Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%.The company's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the business earned $4.76 earnings per share. Martin Marietta Materials has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd will be given a $0.83 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change 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 dividend payout ratio is presently 18.41%.

Insider Transactions at Martin Marietta Materials

In other Martin Marietta Materials news, Director Laree E. Perez sold 1,038 shares of the business's stock in a transaction that occurred 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 sale, the director owned 15,417 shares of the company's stock, valued at $9,455,554.44. The trade was a 6.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.69% of the stock is currently owned by insiders.

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.