Landscape Capital Management L.L.C. Invests $272,000 in Martin Marietta Materials, Inc. $MLM

Key Points

• Landscape Capital Management invested $272,000 in Martin Marietta Materials, acquiring 569 shares, as detailed in their recent SEC filing for the first quarter.
• Martin Marietta's stock received positive analyst ratings, with price targets raised by several firms, including Morgan Stanley, which increased its target from $576 to $605.
• The company also declared a quarterly dividend of $0.83 per share, representing a yield of 0.5%, up from a previous dividend of $0.79.

Landscape Capital Management L.L.C. purchased a new stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 569 shares of the construction company's stock, valued at approximately $272,000.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Martin Marietta Materials by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 7,342,358 shares of the construction company's stock worth $3,510,602,000 after acquiring an additional 168,175 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Martin Marietta Materials by 10.1% during the 1st quarter. JPMorgan Chase & Co. now owns 2,944,694 shares of the construction company's stock worth $1,407,947,000 after acquiring an additional 268,928 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Martin Marietta Materials by 6.6% during the 1st quarter. Principal Financial Group Inc. now owns 1,940,423 shares of the construction company's stock worth $927,775,000 after acquiring an additional 120,679 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Martin Marietta Materials by 58,570.5% during the 1st quarter. GAMMA Investing LLC now owns 697,592 shares of the construction company's stock worth $333,540,000 after acquiring an additional 696,403 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its holdings in shares of Martin Marietta Materials by 39.2% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 659,363 shares of the construction company's stock worth $315,261,000 after acquiring an additional 185,731 shares during the last quarter. 95.04% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MLM has been the topic of a number of analyst reports. Morgan Stanley lifted their target price on shares of Martin Marietta Materials from $576.00 to $605.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. DA Davidson lifted their target price on shares of Martin Marietta Materials from $625.00 to $700.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. UBS Group upgraded shares of Martin Marietta Materials from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $548.00 to $634.00 in a research report on Friday, May 16th. Stephens restated an "overweight" rating and issued a $700.00 price objective on shares of Martin Marietta Materials in a research report on Monday, August 4th. Finally, Bank of America boosted their price objective on shares of Martin Marietta Materials from $577.00 to $643.00 and gave the company a "neutral" rating in a research report on Tuesday, August 5th. Two investment 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $622.63.

Insider Buying and Selling

In related news, Director Laree E. Perez sold 1,038 shares of the business's stock in a transaction dated 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 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.69% of the stock is owned by insiders.

Martin Marietta Materials Trading Up 1.4%

Shares of MLM traded up $8.28 during trading hours on Thursday, reaching $619.48. 413,643 shares of the company traded hands, compared to its average volume of 476,795. The company's fifty day moving average price is $584.60 and its two-hundred day moving average price is $537.45. The company has a market capitalization of $37.36 billion, a price-to-earnings ratio of 34.36, a price-to-earnings-growth ratio of 5.58 and a beta of 0.94. The company has a quick ratio of 1.21, a current ratio of 2.35 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The construction company reported $5.43 EPS for the quarter, missing the consensus estimate of $5.44 by ($0.01). Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%.The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the firm earned $4.76 EPS. The company's revenue was up 2.7% on a year-over-year basis. Martin Marietta Materials has set its FY 2025 guidance at EPS. Equities research analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd will be paid 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 annualized dividend and a yield of 0.5%. Martin Marietta Materials's payout ratio is presently 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.