MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $199.03 Million Stock Holdings in Martin Marietta Materials, Inc. $MLM

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in Martin Marietta Materials by 10.5%, lowering its ownership to approximately 0.69%, following the sale of 48,711 shares.
• Martin Marietta reported Q2 earnings of $5.43 per share, missing analysts' expectations, accompanied by a revenue of $1.81 billion, which was below the projected $1.88 billion.
• The company announced a quarterly dividend increase to $0.83 per share, up from $0.79, reflecting a commitment to shareholder returns despite the recent earnings miss.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lessened its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 10.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 416,268 shares of the construction company's stock after selling 48,711 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.69% of Martin Marietta Materials worth $199,030,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Wayfinding Financial LLC bought a new position in Martin Marietta Materials during the 1st quarter worth approximately $29,000. Chilton Capital Management LLC bought a new stake in shares of Martin Marietta Materials in the 1st quarter worth approximately $30,000. Zions Bancorporation National Association UT bought a new stake in shares of Martin Marietta Materials in the 1st quarter worth approximately $30,000. IMA Advisory Services Inc. acquired a new stake in Martin Marietta Materials in the 1st quarter valued at approximately $40,000. Finally, Valley National Advisers Inc. increased its position 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 acquiring an additional 64 shares during the period. Institutional investors and hedge funds own 95.04% of the company's stock.

Insider Activity at Martin Marietta Materials

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 stock was sold at an average price of $613.32, for a total value of $636,626.16. Following the transaction, the director directly owned 15,417 shares of the company's stock, valued at $9,455,554.44. The trade was a 6.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.68% of the stock is owned by insiders.

Martin Marietta Materials Price Performance

NYSE MLM traded up $3.79 during trading on Friday, reaching $622.76. 311,202 shares of the company traded hands, compared to its average volume of 379,060. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.21 and a current ratio of 2.35. The stock's 50 day moving average price is $587.60 and its two-hundred day moving average price is $539.05. The company has a market cap of $37.56 billion, a price-to-earnings ratio of 34.54, a P/E/G ratio of 5.64 and a beta of 0.94. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released 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 company had revenue of $1.81 billion for 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 firm's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.76 earnings per share. Martin Marietta Materials has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS for the current 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 issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Tuesday, September 2nd. This is an increase from Martin Marietta Materials's previous quarterly dividend of $0.79. Martin Marietta Materials's dividend payout ratio (DPR) is presently 18.41%.

Analyst Upgrades and Downgrades

MLM has been the topic of several research analyst reports. Stifel Nicolaus lifted their price target on Martin Marietta Materials from $609.00 to $637.00 and gave the company a "buy" rating in a research report on Tuesday, August 12th. DA Davidson lifted their target price on Martin Marietta Materials from $625.00 to $700.00 and gave the stock a "buy" rating in a report on Monday, August 11th. Stephens reaffirmed an "overweight" rating and issued a $700.00 target price on shares of Martin Marietta Materials in a research report on Monday, August 4th. Wall Street Zen raised Martin Marietta Materials from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Bank of America lifted their price objective on Martin Marietta Materials from $577.00 to $643.00 and gave the company a "neutral" rating in a research report on Tuesday, August 5th. Two equities research 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 company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $622.63.

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.