Korea Investment CORP Has $12.39 Million Stake in Martin Marietta Materials, Inc. $MLM

Key Points

• Korea Investment CORP reduced its stake in Martin Marietta Materials by 35.7%, selling 14,386 shares and retaining 25,904 shares worth approximately $12 million.
• Several institutional investors increased their holdings in Martin Marietta, with Vanguard Group boosting its stake by 2.3% and GAMMA Investing increasing its position by an astonishing 58,570.5%.
• Martin Marietta Materials announced a quarterly dividend increase to $0.83 per share from the previous $0.79, reflecting a positive shift in its dividend payout strategy.

Korea Investment CORP cut its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 35.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,904 shares of the construction company's stock after selling 14,386 shares during the quarter. Korea Investment CORP's holdings in Martin Marietta Materials were worth $12,385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the business. XTX Topco Ltd purchased a new stake in Martin Marietta Materials during the 4th quarter valued at $353,000. NewEdge Advisors LLC increased its holdings in shares of Martin Marietta Materials by 13.1% in the fourth quarter. NewEdge Advisors LLC now owns 2,462 shares of the construction company's stock worth $1,272,000 after purchasing an additional 286 shares during the last quarter. TD Waterhouse Canada Inc. increased its stake in Martin Marietta Materials by 4.7% during the fourth quarter. TD Waterhouse Canada Inc. now owns 5,405 shares of the construction company's stock worth $2,790,000 after acquiring an additional 241 shares during the last quarter. OneDigital Investment Advisors LLC increased its stake in Martin Marietta Materials by 1.9% during the fourth quarter. OneDigital Investment Advisors LLC now owns 1,020 shares of the construction company's stock worth $527,000 after acquiring an additional 19 shares during the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of Martin Marietta Materials by 23.9% during the fourth quarter. Hsbc Holdings PLC now owns 134,988 shares of the construction company's stock valued at $69,778,000 after buying an additional 26,055 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Trading Up 1.0%

Shares of MLM traded up $6.2940 on Friday, hitting $607.0340. 363,773 shares of the stock traded hands, compared to its average volume of 440,196. 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 market capitalization of $36.61 billion, a P/E ratio of 33.67, a P/E/G ratio of 5.54 and a beta of 0.89. Martin Marietta Materials, Inc. has a 1 year low of $441.95 and a 1 year high of $633.23. The stock's 50 day moving average is $573.18 and its two-hundred day moving average is $532.84.

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 firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.88 billion. Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. Martin Marietta Materials's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $4.76 earnings per share. Martin Marietta Materials has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd will be 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 is Tuesday, September 2nd. This is a positive change from Martin Marietta Materials's previous quarterly dividend of $0.79. Martin Marietta Materials's payout ratio is presently 17.53%.

Insiders Place Their Bets

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 transaction of $636,626.16. Following the sale, the director owned 15,417 shares in the company, valued at $9,455,554.44. The trade was a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.68% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on MLM. Stifel Nicolaus upped their target price on Martin Marietta Materials from $609.00 to $637.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. 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 note on Monday, July 28th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $525.00 target price (up from $515.00) on shares of Martin Marietta Materials in a research note on Friday, August 8th. DA Davidson lifted their target price on shares of Martin Marietta Materials from $625.00 to $700.00 and gave the company a "buy" rating in a report on Monday, August 11th. Finally, Bank of America boosted their price target on shares of Martin Marietta Materials from $577.00 to $643.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $622.63.

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.