Martin Marietta Materials, Inc. $MLM Holdings Increased by Federation des caisses Desjardins du Quebec

Key Points

• Federation des caisses Desjardins du Quebec increased its stake in Martin Marietta Materials by 31.9% in Q1, holding approximately 0.06% of the company valued at $17.05 million.
• Martin Marietta Materials reported Q2 earnings of $5.43 per share, slightly missing estimates, with revenue of $1.81 billion, which was lower than expected.
• The company has increased its quarterly dividend from $0.79 to $0.83 per share, reflecting a commitment to returning value to its shareholders.

Federation des caisses Desjardins du Quebec grew its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 31.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,660 shares of the construction company's stock after buying an additional 8,618 shares during the quarter. Federation des caisses Desjardins du Quebec owned about 0.06% of Martin Marietta Materials worth $17,053,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Net Worth Advisory Group raised its position in shares of Martin Marietta Materials by 2.2% during the 1st quarter. Net Worth Advisory Group now owns 993 shares of the construction company's stock worth $475,000 after buying an additional 21 shares in the last quarter. PDS Planning Inc grew its stake in shares of 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 last quarter. Financial Management Professionals Inc. grew its stake in shares of Martin Marietta Materials by 3.5% in the 1st quarter. Financial Management Professionals Inc. now owns 652 shares of the construction company's stock worth $312,000 after purchasing an additional 22 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Martin Marietta Materials by 5.4% in the 4th quarter. Wellington Management Group LLP now owns 448 shares of the construction company's stock worth $231,000 after purchasing an additional 23 shares during the last quarter. Finally, First American Bank grew its stake in shares of 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 last quarter. 95.04% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related 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 transaction, the director directly owned 15,417 shares of the company's stock, valued at approximately $9,455,554.44. The trade was a 6.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.68% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $525.00 price objective (up previously from $515.00) on shares of Martin Marietta Materials in a research note on Friday, August 8th. UBS Group raised shares of Martin Marietta Materials from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $548.00 to $634.00 in a research note on Friday, May 16th. Raymond James Financial lifted their price objective on shares of Martin Marietta Materials from $600.00 to $645.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Bank of America lifted their price objective 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. Finally, 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. Two equities research 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $622.63.

Martin Marietta Materials Stock Performance

Martin Marietta Materials stock opened at $614.93 on Wednesday. The firm's 50 day simple moving average is $583.10 and its 200-day simple moving average is $536.95. The company has a market cap of $37.09 billion, a P/E ratio of 34.11, a price-to-earnings-growth ratio of 5.58 and a beta of 0.94. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 1.21. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $633.23.

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 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 firm had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.88 billion. During the same period last year, the business earned $4.76 earnings per share. The business's revenue was up 2.7% on a year-over-year basis. Martin Marietta Materials has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a boost from Martin Marietta Materials's previous quarterly dividend of $0.79. This represents a $3.32 dividend on an annualized basis and a yield of 0.5%. Martin Marietta Materials's payout ratio is presently 17.53%.

About Martin Marietta Materials

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.

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.