Nitorum Capital L.P. Sells 10,791 Shares of Martin Marietta Materials, Inc. $MLM

Key Points

• Nitorum Capital L.P. has reduced its stake in Martin Marietta Materials by 9.7%, selling 10,791 shares and now holding 99,898 shares, which is approximately 6.7% of their portfolio.
• Martin Marietta Materials raised its quarterly dividend from $0.79 to $0.83 per share, to be paid on September 30th, reflecting an annual yield of 0.5%.
• Analysts show a positive outlook on Martin Marietta Materials, with a consensus price target of $622.63 and a majority rating of "Moderate Buy".

Nitorum Capital L.P. trimmed its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 9.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 99,898 shares of the construction company's stock after selling 10,791 shares during the period. Martin Marietta Materials accounts for about 6.7% of Nitorum Capital L.P.'s investment portfolio, making the stock its 3rd biggest holding. Nitorum Capital L.P. owned about 0.17% of Martin Marietta Materials worth $47,764,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Net Worth Advisory Group increased 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 valued at $475,000 after buying an additional 21 shares in the last quarter. PDS Planning Inc increased 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 valued at $216,000 after buying an additional 21 shares in the last quarter. Financial Management Professionals Inc. raised its stake in Martin Marietta Materials by 3.5% during the 1st quarter. Financial Management Professionals Inc. now owns 652 shares of the construction company's stock valued at $312,000 after purchasing an additional 22 shares during the period. Wellington Management Group LLP raised its stake in Martin Marietta Materials by 5.4% during the 4th quarter. Wellington Management Group LLP now owns 448 shares of the construction company's stock valued at $231,000 after purchasing an additional 23 shares during the period. Finally, First American Bank raised its stake in Martin Marietta Materials by 1.3% during the 1st quarter. First American Bank now owns 1,966 shares of the construction company's stock valued at $940,000 after purchasing 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 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 value of $636,626.16. Following the transaction, the director directly owned 15,417 shares of the company's stock, valued at approximately $9,455,554.44. This trade represents a 6.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.68% of the company's stock.

Martin Marietta Materials Stock Up 0.6%

MLM traded up $3.79 during midday trading on Friday, hitting $622.76. 311,202 shares of the company's stock traded hands, compared to its average volume of 379,060. 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 cap of $37.56 billion, a PE ratio of 34.54, a price-to-earnings-growth ratio of 5.64 and a beta of 0.94. The stock's fifty day simple moving average is $587.60 and its 200-day simple moving average is $539.05. Martin Marietta Materials, Inc. has a one year low of $441.95 and a one year high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its quarterly 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). The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate 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 quarter in the prior year, the business posted $4.76 EPS. 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders 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 currently 18.41%.

Wall Street Analyst Weigh In

Several analysts have issued reports on MLM shares. UBS Group raised shares of Martin Marietta Materials from a "neutral" rating to a "buy" rating and boosted their target price for the company from $548.00 to $634.00 in a research note on Friday, May 16th. Raymond James Financial lifted their target price on Martin Marietta Materials from $600.00 to $645.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $525.00 target price (up previously from $515.00) on shares of Martin Marietta Materials in a research note on Friday, August 8th. Morgan Stanley lifted their target price 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 target price on shares of Martin Marietta Materials in a research note on Monday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average 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.