Mirae Asset Global Investments Co. Ltd. Buys 4,054 Shares of Martin Marietta Materials, Inc. $MLM

Key Points

• Mirae Asset Global Investments increased its stake in Martin Marietta Materials by 48.7%, acquiring 4,054 additional shares, bringing their total ownership to 12,381 shares valued at approximately $6.8 million.
• Martin Marietta's latest earnings report showed a slight miss, with $5.43 EPS against estimates of $5.44, and revenue of $1.81 billion compared to estimates of $1.88 billion.
• The company recently raised its quarterly dividend to $0.83 per share, marking an increase from the previous $0.79, resulting in a 0.5% dividend yield.

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 48.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,381 shares of the construction company's stock after acquiring an additional 4,054 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Martin Marietta Materials were worth $6,797,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of MLM. Vanguard Group Inc. raised its stake in shares of Martin Marietta Materials by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 7,342,358 shares of the construction company's stock worth $3,510,602,000 after purchasing an additional 168,175 shares in the last quarter. JPMorgan Chase & Co. raised its position in Martin Marietta Materials by 10.1% during the first quarter. JPMorgan Chase & Co. now owns 2,944,694 shares of the construction company's stock worth $1,407,947,000 after acquiring an additional 268,928 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Martin Marietta Materials by 6.6% in the first quarter. Principal Financial Group Inc. now owns 1,940,423 shares of the construction company's stock valued at $927,775,000 after acquiring an additional 120,679 shares during the last quarter. Amundi grew its position in shares of Martin Marietta Materials by 9.2% in the 1st quarter. Amundi now owns 1,706,416 shares of the construction company's stock valued at $827,345,000 after acquiring an additional 144,270 shares during the period. Finally, Diamond Hill Capital Management Inc. increased its stake in shares of Martin Marietta Materials by 39.2% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 659,363 shares of the construction company's stock worth $315,261,000 after purchasing an additional 185,731 shares during the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Performance

MLM opened at $635.61 on Monday. 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 company has a market capitalization of $38.33 billion, a PE ratio of 35.25, a price-to-earnings-growth ratio of 5.75 and a beta of 1.01. The business has a fifty day simple moving average of $610.18 and a 200 day simple moving average of $558.68. Martin Marietta Materials, Inc. has a 1 year low of $441.95 and a 1 year high of $637.36.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its earnings results 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). Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%.The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the business posted $4.76 EPS. The firm's quarterly revenue was up 2.7% compared to the same quarter last year. Martin Marietta Materials has set its FY 2025 guidance at EPS. Research analysts expect 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 was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Tuesday, September 2nd. This is a boost from Martin Marietta Materials's previous quarterly dividend of $0.79. Martin Marietta Materials's dividend payout ratio (DPR) is currently 18.41%.

Insider Activity at Martin Marietta Materials

In related news, Director Laree E. Perez sold 1,038 shares of the firm's stock in a transaction 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 owned 15,417 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.68% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MLM. Wall Street Zen upgraded shares of Martin Marietta Materials from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Raymond James Financial raised their price objective on Martin Marietta Materials from $600.00 to $645.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. DA Davidson boosted 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. Morgan Stanley increased their price target on Martin Marietta Materials from $576.00 to $605.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Finally, Stephens reaffirmed an "overweight" rating and set a $700.00 price objective on shares of Martin Marietta Materials in a research report on Monday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price 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.

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