Aberdeen Group plc Has $13.68 Million Stock Position in Martin Marietta Materials, Inc. $MLM

Key Points

• Aberdeen Group plc increased its stake in Martin Marietta Materials, acquiring 12,979 additional shares and raising its position by 82.6%, now owning a total of 28,691 shares valued at approximately $13.67 million.
• The company reported Q2 earnings of $5.43 EPS, slightly missing analysts' estimates, and reported a slight year-over-year revenue increase of 2.7% to $1.81 billion.
• Martin Marietta Materials announced a quarterly dividend increase to $0.83, up from $0.79, with an ex-dividend date set for September 2nd, reflecting a payout ratio of 17.53%.

Aberdeen Group plc grew its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 82.6% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 28,691 shares of the construction company's stock after acquiring an additional 12,979 shares during the quarter. Aberdeen Group plc's holdings in Martin Marietta Materials were worth $13,675,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of MLM. GAMMA Investing LLC lifted its position 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 valued at $333,540,000 after acquiring an additional 696,403 shares during the period. 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 period. Alkeon Capital Management LLC lifted its holdings in shares of Martin Marietta Materials by 46.6% during the 4th quarter. Alkeon Capital Management LLC now owns 771,198 shares of the construction company's stock worth $398,324,000 after acquiring an additional 245,000 shares during the period. 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 period. Finally, 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 period. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Price Performance

NYSE:MLM traded up $6.2940 on Friday, hitting $607.0340. The company had a trading volume of 363,773 shares, compared to its average volume of 433,691. The stock has a market capitalization of $36.61 billion, a price-to-earnings ratio of 33.67, a PEG ratio of 5.48 and a beta of 0.89. The company has a current ratio of 2.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.56. The firm has a 50 day moving average of $573.18 and a two-hundred day moving average of $532.97. Martin Marietta Materials, Inc. has a 52 week low of $441.95 and a 52 week high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued 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 net margin of 16.47% and a return on equity of 11.88%. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the company earned $4.76 EPS. Martin Marietta Materials's revenue for the quarter was up 2.7% on a year-over-year basis. Martin Marietta Materials has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd will be given a $0.83 dividend. This is an increase from Martin Marietta Materials's previous quarterly dividend of $0.79. The ex-dividend date is Tuesday, September 2nd. This represents a $3.32 annualized dividend and a yield of 0.5%. Martin Marietta Materials's dividend payout ratio is currently 18.41%.

Insider Transactions at Martin Marietta Materials

In other Martin Marietta Materials news, Director Laree E. Perez sold 1,038 shares of the company'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 transaction, the director directly owned 15,417 shares in the company, valued at approximately $9,455,554.44. This represents a 6.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.69% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MLM. Stephens reaffirmed an "overweight" rating and set a $700.00 price target on shares of Martin Marietta Materials in a report on Monday, August 4th. Wall Street Zen raised shares of Martin Marietta Materials from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. UBS Group raised shares of Martin Marietta Materials from a "neutral" rating to a "buy" rating and upped their price target for the stock from $548.00 to $634.00 in a report on Friday, May 16th. DA Davidson upped their price target on shares of Martin Marietta Materials from $625.00 to $700.00 and gave the stock a "buy" rating in a report on Monday, August 11th. Finally, Royal Bank Of Canada reissued 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. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Martin Marietta Materials presently has a consensus rating of "Moderate Buy" and a consensus price target of $622.63.

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.