Lbp Am Sa Purchases New Position in Martin Marietta Materials, Inc. $MLM

Key Points

• Lbp Am Sa acquired a new position in Martin Marietta Materials (NYSE: MLM) by purchasing 909 shares valued at approximately $499,000 in the second quarter.
• Martin Marietta reported $5.43 EPS, slightly missing analysts' consensus estimates, and had revenues of $1.81 billion for the quarter, reflecting a 2.7% year-over-year increase.
• The company announced a quarterly dividend increase to $0.83 per share, up from the previous $0.79, representing an annualized yield of 0.5%.

Lbp Am Sa bought a new stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 909 shares of the construction company's stock, valued at approximately $499,000.

A number of other large investors have also bought and sold shares of MLM. Mather Group LLC. grew its stake in shares of Martin Marietta Materials by 65.5% during the first quarter. Mather Group LLC. now owns 278 shares of the construction company's stock valued at $133,000 after purchasing an additional 110 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in 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 last quarter. Vontobel Holding Ltd. boosted its position in 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 last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Martin Marietta Materials by 41.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,159 shares of the construction company's stock valued at $2,467,000 after buying an additional 1,505 shares during the period. Finally, Exchange Traded Concepts LLC raised its position in shares of Martin Marietta Materials by 23.0% during the first quarter. Exchange Traded Concepts LLC now owns 454 shares of the construction company's stock worth $217,000 after acquiring an additional 85 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $635.61 on Friday. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $637.36. The company's fifty day simple moving average is $610.18 and its 200-day simple moving average is $557.70. The firm has a market cap of $38.33 billion, a PE ratio of 35.25, a P/E/G ratio of 5.69 and a beta of 1.01. 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 (NYSE:MLM - Get Free Report) last released its earnings results on Thursday, August 7th. The construction company reported $5.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.44 by ($0.01). The company had revenue of $1.81 billion during 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 was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.76 EPS. Martin Marietta Materials has set its FY 2025 guidance at EPS. Equities research analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 0.5%. This is a boost from Martin Marietta Materials's previous quarterly dividend of $0.79. The ex-dividend date was Tuesday, September 2nd. Martin Marietta Materials's dividend payout ratio (DPR) is 18.41%.

Analyst Ratings Changes

A number of analysts recently commented on MLM shares. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $525.00 price objective (up from $515.00) on shares of Martin Marietta Materials in a research report on Friday, August 8th. DA Davidson lifted their price target 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. 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. Wall Street Zen upgraded shares of Martin Marietta Materials from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Stephens reaffirmed an "overweight" rating and issued a $700.00 price objective on shares of Martin Marietta Materials in a research note on Monday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Martin Marietta Materials currently has an average rating of "Moderate Buy" and a consensus price target of $622.63.

Insider Activity

In other news, Director Laree E. Perez sold 1,038 shares of Martin Marietta Materials stock in a transaction 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 sale, the director owned 15,417 shares of the company's stock, valued at approximately $9,455,554.44. This trade represents a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.69% of the stock is currently owned by corporate insiders.

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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