MBB Public Markets I LLC Invests $292,000 in Martin Marietta Materials, Inc. $MLM

Key Points

• MBB Public Markets I LLC has invested $292,000 in Martin Marietta Materials, acquiring 610 shares during the first quarter.
• Martin Marietta reported earnings of $5.43 per share for the last quarter, slightly missing analysts' expectations, and had a year-over-year revenue increase of 2.7%.
• The company has announced a quarterly dividend increase to $0.83 per share, which will be paid on September 30th, representing a 0.5% yield.

MBB Public Markets I LLC bought a new position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 610 shares of the construction company's stock, valued at approximately $292,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Net Worth Advisory Group boosted its holdings in shares of Martin Marietta Materials by 2.2% in the first quarter. Net Worth Advisory Group now owns 993 shares of the construction company's stock worth $475,000 after buying an additional 21 shares during the period. PDS Planning Inc boosted its holdings 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 worth $216,000 after buying an additional 21 shares during the period. Financial Management Professionals Inc. boosted its holdings in shares of Martin Marietta Materials by 3.5% in the first quarter. Financial Management Professionals Inc. now owns 652 shares of the construction company's stock worth $312,000 after buying an additional 22 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Martin Marietta Materials by 5.4% in the fourth quarter. Wellington Management Group LLP now owns 448 shares of the construction company's stock worth $231,000 after buying an additional 23 shares during the period. Finally, First American Bank boosted its holdings in shares of Martin Marietta Materials by 1.3% in the first quarter. First American Bank now owns 1,966 shares of the construction company's stock worth $940,000 after buying an additional 25 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Martin Marietta Materials news, Director Laree E. Perez sold 1,038 shares of the 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 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 document filed with the SEC, which is available at the SEC website. 0.68% of the stock is currently owned by company insiders.

Martin Marietta Materials Stock Up 1.5%

MLM traded up $9.12 during midday trading on Wednesday, hitting $618.88. 127,062 shares of the company's stock traded hands, compared to its average volume of 467,711. Martin Marietta Materials, Inc. has a one year low of $441.95 and a one year high of $633.23. 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 stock's fifty day simple moving average is $596.21 and its 200-day simple moving average is $545.02. The company has a market cap of $37.32 billion, a PE ratio of 34.40, a price-to-earnings-growth ratio of 5.54 and a beta of 0.94.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the business earned $4.76 EPS. The company'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. As a group, equities analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MLM. Royal Bank Of Canada reissued a "sector perform" rating and issued a $525.00 price target (up from $515.00) on shares of Martin Marietta Materials in a research report on Friday, August 8th. Bank of America increased their price target on shares of Martin Marietta Materials from $577.00 to $643.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Stephens reissued an "overweight" rating and issued a $700.00 price target on shares of Martin Marietta Materials in a research report on Monday, August 4th. Raymond James Financial increased their price target on shares of Martin Marietta Materials from $600.00 to $645.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Finally, Morgan Stanley increased their price target on shares of Martin Marietta Materials from $576.00 to $605.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average 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.