JSF Financial LLC Invests $1.23 Million in Martin Marietta Materials, Inc. $MLM

Key Points

• JSF Financial LLC has made a significant investment of approximately $1.23 million in Martin Marietta Materials, acquiring 2,241 shares in the second quarter.
• Wall Street analysts have generally positive outlooks on Martin Marietta Materials, with upgraded ratings and target prices ranging from $525.00 to $645.00.
• Martin Marietta Materials recently increased its quarterly dividend to $0.83, reflecting a positive shift from the previous dividend of $0.79.

JSF Financial LLC purchased a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,241 shares of the construction company's stock, valued at approximately $1,230,000.

Other large investors have also recently added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new stake in shares of Martin Marietta Materials in the 1st quarter valued at about $29,000. Chilton Capital Management LLC bought a new stake in Martin Marietta Materials in the first quarter valued at about $30,000. Zions Bancorporation National Association UT bought a new stake in Martin Marietta Materials in the first quarter valued at about $30,000. IMA Advisory Services Inc. bought a new stake in Martin Marietta Materials in the first quarter valued at about $40,000. Finally, Valley National Advisers Inc. grew its position in shares of Martin Marietta Materials by 193.9% in the 1st quarter. Valley National Advisers Inc. now owns 97 shares of the construction company's stock worth $45,000 after acquiring an additional 64 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Laree E. Perez sold 1,038 shares of the 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 completion of the transaction, the director owned 15,417 shares of the company's stock, valued at approximately $9,455,554.44. This represents a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MLM. Wall Street Zen upgraded Martin Marietta Materials from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Royal Bank Of Canada restated a "sector perform" rating and set a $525.00 price objective (up from $515.00) on shares of Martin Marietta Materials in a research note on Friday, August 8th. 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 report on Friday, August 8th. 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 report on Monday, July 28th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Martin Marietta Materials in a research report on Saturday, September 27th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Martin Marietta Materials has a consensus rating of "Moderate Buy" and an average price target of $622.63.

Martin Marietta Materials Trading Up 1.2%

Martin Marietta Materials stock opened at $635.61 on Friday. 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 50-day moving average price of $610.18 and a two-hundred day moving average price of $558.16. The firm has a market capitalization of $38.33 billion, a price-to-earnings ratio of 35.25, a PEG ratio of 5.75 and a beta of 1.01. Martin Marietta Materials, Inc. has a 52-week low of $441.95 and a 52-week high of $637.36.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its quarterly 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 for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the firm posted $4.76 EPS. Martin Marietta Materials has set its FY 2025 guidance at EPS. Sell-side analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd were paid a $0.83 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a positive change from Martin Marietta Materials's previous quarterly dividend of $0.79. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. Martin Marietta Materials's dividend payout ratio (DPR) is currently 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.

Want to see what other hedge funds are holding MLM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Martin Marietta Materials, Inc. (NYSE:MLM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.