Martin Marietta Materials, Inc. $MLM Shares Acquired by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp increased its stake in Martin Marietta Materials by 9.9% during the second quarter, owning a total of 8,088 shares valued at approximately $4.44 million.
• Martin Marietta reported a quarterly EPS of $5.43, slightly missing analysts' expectations, with a net margin of 16.47% and revenue of $1.81 billion.
• The company announced a quarterly dividend increase to $0.83 per share, representing a yield of 0.5%, with an ex-dividend date set for September 2nd.

Fifth Third Bancorp boosted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 9.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,088 shares of the construction company's stock after acquiring an additional 731 shares during the period. Fifth Third Bancorp's holdings in Martin Marietta Materials were worth $4,440,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in MLM. Wayfinding Financial LLC acquired a new stake in Martin Marietta Materials in the 1st quarter valued at about $29,000. Chilton Capital Management LLC purchased a new position in Martin Marietta Materials in the 1st quarter valued at about $30,000. Zions Bancorporation National Association UT purchased a new position in Martin Marietta Materials in the 1st quarter valued at about $30,000. IMA Advisory Services Inc. purchased a new position in Martin Marietta Materials in the 1st quarter valued at about $40,000. Finally, Valley National Advisers Inc. lifted its holdings in Martin Marietta Materials by 193.9% in the 1st quarter. Valley National Advisers Inc. now owns 97 shares of the construction company's stock valued at $45,000 after purchasing an additional 64 shares in the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Martin Marietta Materials

In other news, Director Laree E. Perez sold 1,038 shares of the firm'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 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. Insiders own 0.69% of the company's stock.

Martin Marietta Materials Trading Up 0.2%

NYSE MLM opened at $607.98 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.21 and a current ratio of 2.35. Martin Marietta Materials, Inc. has a one year low of $441.95 and a one year high of $633.23. The company's 50 day moving average price is $604.10 and its 200 day moving average price is $551.51. The firm has a market capitalization of $36.67 billion, a price-to-earnings ratio of 33.72, a PEG ratio of 5.50 and a beta of 0.94.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The construction company reported $5.43 earnings per share (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 firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period last year, the business earned $4.76 EPS. The firm's revenue was up 2.7% compared to the same quarter last year. Martin Marietta Materials has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Increases Dividend

The company also recently disclosed 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 represents a $3.32 annualized dividend and a yield of 0.5%. This is a positive change from Martin Marietta Materials's previous quarterly dividend of $0.79. The ex-dividend date of this dividend is Tuesday, September 2nd. Martin Marietta Materials's dividend payout ratio is 18.41%.

Wall Street Analyst Weigh In

MLM has been the topic of a number of recent research reports. Stifel Nicolaus upped their target price on shares of Martin Marietta Materials from $609.00 to $637.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. Stephens reiterated an "overweight" rating and set 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 stock 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 stock an "outperform" rating in a report on Friday, August 8th. Finally, Wall Street Zen upgraded shares of Martin Marietta Materials from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. 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 MarketBeat, Martin Marietta Materials has an average rating of "Moderate Buy" and a consensus target price of $622.63.

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.

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