Martin Marietta Materials, Inc. $MLM Shares Acquired by Robbins Farley

Key Points

• Robbins Farley increased its position in Martin Marietta Materials by 5.9%, owning 10,652 shares valued at approximately $5.85 million after acquiring an additional 590 shares.
• Martin Marietta recently announced a quarterly dividend increase from $0.79 to $0.83 per share, with a payout ratio of 18.41% and an annualized dividend yield of 0.5%.
• Analysts have raised their target prices for Martin Marietta, with DA Davidson setting it at $700.00, while the stock currently holds a consensus price target of $622.63 and is rated as a "Moderate Buy."

Robbins Farley increased its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 5.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,652 shares of the construction company's stock after acquiring an additional 590 shares during the period. Martin Marietta Materials makes up about 2.7% of Robbins Farley's investment portfolio, making the stock its 11th biggest position. Robbins Farley's holdings in Martin Marietta Materials were worth $5,848,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of MLM. American Century Companies Inc. grew its holdings in shares of Martin Marietta Materials by 1,880.3% in the 1st quarter. American Century Companies Inc. now owns 369,382 shares of the construction company's stock worth $176,613,000 after acquiring an additional 350,729 shares during the period. JPMorgan Chase & Co. lifted its stake in Martin Marietta Materials by 10.1% in the 1st quarter. JPMorgan Chase & Co. now owns 2,944,694 shares of the construction company's stock valued at $1,407,947,000 after buying an additional 268,928 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its stake in Martin Marietta Materials by 39.2% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 659,363 shares of the construction company's stock valued at $315,261,000 after buying an additional 185,731 shares in the last quarter. Vanguard Group Inc. lifted its stake in Martin Marietta Materials by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 7,342,358 shares of the construction company's stock valued at $3,510,602,000 after buying an additional 168,175 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in Martin Marietta Materials in the 1st quarter valued at approximately $73,020,000. Institutional investors and hedge funds own 95.04% of the company's stock.

Martin Marietta Materials Stock Up 1.2%

Shares of NYSE MLM opened at $620.81 on Tuesday. Martin Marietta Materials, Inc. has a 12-month low of $441.95 and a 12-month high of $633.23. The company has a market cap of $37.44 billion, a P/E ratio of 34.43, a P/E/G ratio of 5.56 and a beta of 0.94. 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 stock has a fifty day moving average price of $606.23 and a 200 day moving average price of $554.76.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the prior year, the company posted $4.76 earnings per share. The firm'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. Research analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MLM shares. DA Davidson upped their target price on Martin Marietta Materials from $625.00 to $700.00 and gave the company a "buy" rating in a research note on Monday, August 11th. Stifel Nicolaus upped their target price on Martin Marietta Materials from $609.00 to $637.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. Wall Street Zen raised Martin Marietta Materials from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Stephens reaffirmed an "overweight" rating and issued a $700.00 target price on shares of Martin Marietta Materials in a research note on Monday, August 4th. Finally, Bank of America increased their price target on Martin Marietta Materials from $577.00 to $643.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued 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.

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 dated 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 directly owned 15,417 shares in the company, valued at $9,455,554.44. This trade represents a 6.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.68% of the stock is owned by corporate insiders.

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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