Martin Marietta Materials, Inc. $MLM Shares Acquired by Aberdeen Group plc

Key Points

• Aberdeen Group plc has increased its stake in Martin Marietta Materials by 2.7%, now holding 29,452 shares valued at approximately $16.16 million.
• Martin Marietta Materials recently declared a quarterly dividend increase to $0.83, representing a payout ratio of 18.41% and an annualized yield of 0.5%.
• Analyst ratings have improved, with several firms raising their price targets, including a consensus target of $621.69 and the highest at $700.

Aberdeen Group plc grew its stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 2.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,452 shares of the construction company's stock after purchasing an additional 761 shares during the quarter. Aberdeen Group plc's holdings in Martin Marietta Materials were worth $16,168,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. PDS Planning Inc grew its position in shares of Martin Marietta Materials by 4.9% in the first quarter. PDS Planning Inc now owns 452 shares of the construction company's stock valued at $216,000 after purchasing an additional 21 shares during the period. MassMutual Private Wealth & Trust FSB grew its position in shares of Martin Marietta Materials by 1.8% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,205 shares of the construction company's stock valued at $661,000 after purchasing an additional 21 shares during the period. First American Bank boosted its position in Martin Marietta Materials by 1.3% during the first quarter. First American Bank now owns 1,966 shares of the construction company's stock worth $940,000 after acquiring an additional 25 shares during the last quarter. Valley National Advisers Inc. grew its stake in Martin Marietta Materials by 25.8% during the 2nd quarter. Valley National Advisers Inc. now owns 122 shares of the construction company's stock valued at $66,000 after acquiring an additional 25 shares in the last quarter. Finally, Trust Investment Advisors raised its holdings in Martin Marietta Materials by 1.4% in the 1st quarter. Trust Investment Advisors now owns 1,843 shares of the construction company's stock valued at $881,000 after acquiring an additional 26 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on MLM. Wall Street Zen upgraded shares of Martin Marietta Materials from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Stephens reiterated an "overweight" rating and issued a $700.00 price objective on shares of Martin Marietta Materials in a report on Monday, August 4th. DA Davidson increased their price objective 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. Raymond James Financial increased their price objective on shares of Martin Marietta Materials from $600.00 to $645.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Finally, Morgan Stanley increased their price objective on shares of Martin Marietta Materials from $576.00 to $605.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Martin Marietta Materials currently has an average rating of "Moderate Buy" and an average price target of $621.69.

Insider Activity

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 value of $636,626.16. Following the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.68% of the company's stock.

Martin Marietta Materials Stock Performance

NYSE:MLM opened at $656.44 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 1.21. The firm has a market capitalization of $39.59 billion, a price-to-earnings ratio of 36.41, a PEG ratio of 5.79 and a beta of 1.01. The company's 50-day moving average is $617.58 and its two-hundred day moving average is $565.65. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $657.36.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted 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). The firm 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%. The business's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.76 earnings per share. Martin Marietta Materials has set its FY 2025 guidance at EPS. Analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd were paid a $0.83 dividend. This is a positive change from Martin Marietta Materials's previous quarterly dividend of $0.79. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. Martin Marietta Materials's payout ratio is presently 18.41%.

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.

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