Mitchell Capital Management Co. Reduces Position in Martin Marietta Materials, Inc. $MLM

Key Points

• Mitchell Capital Management Co. decreased its stake in Martin Marietta Materials, Inc. by 10.4%, now owning 10,374 shares worth approximately $5.86 million, making it the firm's 25th biggest position.
• Analysts have recently adjusted their price targets for Martin Marietta Materials, with Stifel Nicolaus raising its target from $609 to $637, and Raymond James increasing its target from $600 to $645, reflecting a generally positive outlook.
• Martin Marietta Materials has increased its quarterly dividend from $0.79 to $0.83 per share, demonstrating a strong commitment to returning capital to shareholders amidst fluctuating earnings results.

Mitchell Capital Management Co. decreased its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 10.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,374 shares of the construction company's stock after selling 1,205 shares during the period. Martin Marietta Materials accounts for 1.1% of Mitchell Capital Management Co.'s investment portfolio, making the stock its 25th biggest position. Mitchell Capital Management Co.'s holdings in Martin Marietta Materials were worth $5,862,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Mather Group LLC. increased its position in Martin Marietta Materials by 65.5% during the first quarter. Mather Group LLC. now owns 278 shares of the construction company's stock worth $133,000 after buying an additional 110 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Martin Marietta Materials by 1.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,007 shares of the construction company's stock valued at $1,457,000 after purchasing an additional 40 shares during the period. Vontobel Holding Ltd. grew its position in shares of Martin Marietta Materials by 30.5% in the first quarter. Vontobel Holding Ltd. now owns 933 shares of the construction company's stock valued at $446,000 after purchasing an additional 218 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Martin Marietta Materials by 41.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,159 shares of the construction company's stock valued at $2,467,000 after purchasing an additional 1,505 shares during the period. Finally, Exchange Traded Concepts LLC grew its position in shares of Martin Marietta Materials by 23.0% in the first quarter. Exchange Traded Concepts LLC now owns 454 shares of the construction company's stock valued at $217,000 after purchasing an additional 85 shares during the period. Hedge funds and other institutional investors own 95.04% of the company's stock.

Wall Street Analysts Forecast Growth

MLM has been the subject of a number of recent analyst reports. Stifel Nicolaus lifted their price objective 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. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $525.00 price objective (up previously from $515.00) on shares of Martin Marietta Materials in a research report on Friday, August 8th. Raymond James Financial lifted 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. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Martin Marietta Materials in a research report on Wednesday, October 8th. Finally, Morgan Stanley lifted their price objective on Martin Marietta Materials from $576.00 to $605.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $621.69.

Insider Activity at Martin Marietta Materials

In other Martin Marietta Materials news, Director Laree E. Perez sold 1,038 shares of the business'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 transaction, the director owned 15,417 shares in the company, valued at $9,455,554.44. The trade was a 6.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.68% of the stock is currently owned by corporate insiders.

Martin Marietta Materials Price Performance

Shares of Martin Marietta Materials stock opened at $632.22 on Monday. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $640.00. The stock has a market capitalization of $38.13 billion, a P/E ratio of 35.06, a PEG ratio of 5.73 and a beta of 1.01. 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 business's fifty day moving average price is $615.86 and its 200 day moving average price is $563.88.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued 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 net margin of 16.47% and a return on equity of 11.88%. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the previous year, the business posted $4.76 EPS. Martin Marietta Materials's revenue was up 2.7% compared to the same quarter last year. Martin Marietta Materials has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd were 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 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Tuesday, September 2nd. Martin Marietta Materials's payout ratio is presently 18.41%.

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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