KLP Kapitalforvaltning AS Buys 400 Shares of Martin Marietta Materials, Inc. $MLM

Key Points

• KLP Kapitalforvaltning AS increased its holdings in Martin Marietta Materials, Inc. by 1.9% during the 2nd quarter, now owning 21,593 shares valued at approximately $11.85 million.
• The company reported earnings per share of $5.43 for the most recent quarter, slightly missing analysts' expectations, and had a year-over-year revenue increase of 2.7%.
• Martin Marietta Materials announced a dividend increase to $0.83 per share, marking a rise from the previous $0.79, contributing to an annualized dividend yield of 0.5%.

KLP Kapitalforvaltning AS boosted its stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 1.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,593 shares of the construction company's stock after acquiring an additional 400 shares during the period. KLP Kapitalforvaltning AS's holdings in Martin Marietta Materials were worth $11,854,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Net Worth Advisory Group boosted its stake in Martin Marietta Materials by 2.2% in the 1st quarter. Net Worth Advisory Group now owns 993 shares of the construction company's stock worth $475,000 after purchasing an additional 21 shares during the period. PDS Planning Inc boosted its stake in Martin Marietta Materials by 4.9% in the 1st quarter. PDS Planning Inc now owns 452 shares of the construction company's stock worth $216,000 after purchasing an additional 21 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in Martin Marietta Materials by 1.8% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,205 shares of the construction company's stock worth $661,000 after purchasing an additional 21 shares during the period. First American Bank boosted its stake in Martin Marietta Materials by 1.3% in the 1st quarter. First American Bank now owns 1,966 shares of the construction company's stock worth $940,000 after purchasing an additional 25 shares during the period. Finally, Valley National Advisers Inc. boosted its stake in Martin Marietta Materials by 25.8% in the 2nd quarter. Valley National Advisers Inc. now owns 122 shares of the construction company's stock worth $66,000 after purchasing an additional 25 shares during the period. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Stock Performance

Shares of NYSE MLM opened at $633.52 on Friday. The stock has a market cap of $38.21 billion, a price-to-earnings ratio of 35.14, a P/E/G ratio of 5.77 and a beta of 1.01. The company has a current ratio of 2.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $640.00. The stock's 50-day moving average is $614.76 and its 200 day moving average is $561.79.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings data 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 the consensus estimate 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 was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.76 earnings per share. Martin Marietta Materials has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd were issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Tuesday, September 2nd. This is a positive change from Martin Marietta Materials's previous quarterly dividend of $0.79. Martin Marietta Materials's dividend payout ratio (DPR) is presently 18.41%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Weiss Ratings restated a "buy (b-)" rating on shares of Martin Marietta Materials in a research note on Wednesday. Wall Street Zen upgraded Martin Marietta Materials from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Stephens restated an "overweight" rating and issued a $700.00 target price on shares of Martin Marietta Materials in a research note on Monday, August 4th. Morgan Stanley lifted their price target on Martin Marietta Materials from $576.00 to $605.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Finally, Wells Fargo & Company began coverage on Martin Marietta Materials in a research report on Tuesday. They set an "equal weight" rating and a $620.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $621.69.

Insider Buying and Selling at Martin Marietta Materials

In other news, Director Laree E. Perez sold 1,038 shares of the business's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $613.32, for a total value of $636,626.16. Following the completion of the sale, the director directly owned 15,417 shares in the company, valued at approximately $9,455,554.44. The trade was a 6.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.69% of the company's stock.

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.

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