IFM Investors Pty Ltd Reduces Stake in Martin Marietta Materials, Inc. $MLM

Key Points

• IFM Investors Pty Ltd has reduced its stake in Martin Marietta Materials by 3.8%, now holding 10,401 shares valued at approximately $4.97 million.
• Martin Marietta has recently increased its quarterly dividend from $0.79 to $0.83 per share, representing an annualized dividend yield of 0.5%.
• Several analysts have raised their price targets for Martin Marietta, with Bank of America setting a new target of $643 and DA Davidson increasing it to $700.

IFM Investors Pty Ltd lowered its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 3.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,401 shares of the construction company's stock after selling 407 shares during the period. IFM Investors Pty Ltd's holdings in Martin Marietta Materials were worth $4,973,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Sunbeam Capital Management LLC purchased a new stake in Martin Marietta Materials in the fourth quarter valued at approximately $235,000. Waverly Advisors LLC lifted its holdings in shares of Martin Marietta Materials by 78.9% in the 4th quarter. Waverly Advisors LLC now owns 1,041 shares of the construction company's stock valued at $538,000 after buying an additional 459 shares during the period. Mather Group LLC. lifted its holdings in shares of Martin Marietta Materials by 65.5% in the 1st quarter. Mather Group LLC. now owns 278 shares of the construction company's stock valued at $133,000 after buying an additional 110 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Martin Marietta Materials by 1.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,007 shares of the construction company's stock valued at $1,457,000 after buying an additional 40 shares during the period. Finally, Vontobel Holding Ltd. lifted its holdings in shares of Martin Marietta Materials by 30.5% in the 1st quarter. Vontobel Holding Ltd. now owns 933 shares of the construction company's stock valued at $446,000 after buying an additional 218 shares during the period. Hedge funds and other institutional investors own 95.04% of the company's stock.

Insider Activity at Martin Marietta Materials

In other Martin Marietta Materials news, Director Laree E. Perez sold 1,038 shares of the 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 owned 15,417 shares of the company's stock, valued at $9,455,554.44. This 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 is available through this hyperlink. 0.69% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Bank of America boosted 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 boosted 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. Stephens reissued an "overweight" rating and issued a $700.00 price objective on shares of Martin Marietta Materials in a report on Monday, August 4th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $525.00 price target (up previously from $515.00) on shares of Martin Marietta Materials in a report on Friday, August 8th. Finally, DA Davidson upped their price target on Martin Marietta Materials from $625.00 to $700.00 and gave the stock a "buy" rating in a report on Monday, August 11th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $622.63.

Martin Marietta Materials Trading Up 2.5%

Shares of NYSE:MLM opened at $632.10 on Friday. Martin Marietta Materials, Inc. has a 1 year low of $441.95 and a 1 year high of $633.23. The firm has a market capitalization of $38.12 billion, a price-to-earnings ratio of 35.06, a price-to-earnings-growth ratio of 5.59 and a beta of 0.94. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 1.21. The business's 50 day moving average price is $592.93 and its 200-day moving average price is $542.02.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its earnings results 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 firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the previous year, the company earned $4.76 EPS. Martin Marietta Materials's revenue was up 2.7% compared to the same quarter last year. Martin Marietta Materials has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share 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. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.83 per share. The ex-dividend date of this dividend 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 dividend yield of 0.5%. Martin Marietta Materials's payout ratio is currently 18.41%.

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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