Thomas J. Herzfeld Advisors Inc. Sells 1,800 Shares of Martin Marietta Materials, Inc. $MLM

Key Points

• Thomas J. Herzfeld Advisors Inc. significantly reduced its stake in Martin Marietta Materials by 49.5%, now owning 1,840 shares after selling 1,800 shares during the first quarter.
• Martin Marietta Materials recently declared an increased quarterly dividend of $0.83 per share, up from $0.79, to be paid on September 30th.
• Analysts have a consensus rating of “Moderate Buy” on the stock, with an average price target of $622.63, after several upgrades from notable financial institutions.

Thomas J. Herzfeld Advisors Inc. lessened its holdings in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 49.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,840 shares of the construction company's stock after selling 1,800 shares during the quarter. Thomas J. Herzfeld Advisors Inc.'s holdings in Martin Marietta Materials were worth $880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in MLM. OneDigital Investment Advisors LLC lifted its holdings in Martin Marietta Materials by 1.9% during the 4th quarter. OneDigital Investment Advisors LLC now owns 1,020 shares of the construction company's stock worth $527,000 after purchasing an additional 19 shares in the last quarter. Dark Forest Capital Management LP lifted its holdings in Martin Marietta Materials by 91.6% during the 4th quarter. Dark Forest Capital Management LP now owns 960 shares of the construction company's stock worth $496,000 after purchasing an additional 459 shares in the last quarter. Nebula Research & Development LLC purchased a new stake in Martin Marietta Materials during the 4th quarter worth about $932,000. Virtus ETF Advisers LLC purchased a new stake in Martin Marietta Materials during the 4th quarter worth about $1,027,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Martin Marietta Materials during the 4th quarter worth about $15,355,000. Institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Price Performance

Shares of NYSE MLM traded up $4.06 during trading hours on Friday, reaching $616.35. 368,630 shares of the stock traded hands, compared to its average volume of 451,771. The company has a market capitalization of $37.17 billion, a P/E ratio of 34.18, a price-to-earnings-growth ratio of 5.58 and a beta of 0.89. The company has a quick ratio of 1.21, a current ratio of 2.35 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a 52-week low of $441.95 and a 52-week high of $633.23. The company's 50-day simple moving average is $580.58 and its two-hundred day simple moving average is $535.75.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The construction company reported $5.43 earnings per share for the quarter, missing analysts' consensus estimates of $5.44 by ($0.01). The firm had revenue of $1.81 billion for the quarter, compared to analysts' expectations 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 quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $4.76 earnings per share. Martin Marietta Materials has set its FY 2025 guidance at EPS. Equities research analysts forecast 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. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.83 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. This is a positive change from Martin Marietta Materials's previous quarterly dividend of $0.79. Martin Marietta Materials's payout ratio is 17.53%.

Insider Buying and Selling at Martin Marietta Materials

In related news, Director Laree E. Perez sold 1,038 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was 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 in the company, valued at $9,455,554.44. This trade represents a 6.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.69% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on MLM shares. Stephens reaffirmed an "overweight" rating and issued a $700.00 price target on shares of Martin Marietta Materials in a report on Monday, August 4th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $525.00 price target (up previously from $515.00) on shares of Martin Marietta Materials in a report on Friday, August 8th. Bank of America raised their price target on Martin Marietta Materials from $577.00 to $643.00 and gave the company a "neutral" rating in a report on Tuesday, August 5th. Morgan Stanley raised their price target on Martin Marietta Materials from $576.00 to $605.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Finally, DA Davidson raised their price target on Martin Marietta Materials from $625.00 to $700.00 and gave the company a "buy" rating in a report on Monday, August 11th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Martin Marietta Materials has a consensus rating of "Moderate Buy" and an average price target 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.