Prudential PLC Sells 626 Shares of Martin Marietta Materials, Inc. $MLM

Key Points

• Prudential PLC reduced its stake in Martin Marietta Materials by 38.3%, holding 1,008 shares worth approximately $482,000 as of the latest SEC filing.
• Martin Marietta Materials recently reported earnings of $5.43 per share for the quarter, slightly missing analysts' expectations, and had a revenue of $1.81 billion.
• The company announced an increase in its quarterly dividend to $0.83 per share, up from $0.79, with an ex-dividend date set for September 2nd.

Prudential PLC cut its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 38.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,008 shares of the construction company's stock after selling 626 shares during the quarter. Prudential PLC's holdings in Martin Marietta Materials were worth $482,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Wayfinding Financial LLC acquired a new position in shares of Martin Marietta Materials during the 1st quarter worth approximately $29,000. Zions Bancorporation National Association UT acquired a new position in Martin Marietta Materials in the 1st quarter valued at $30,000. Chilton Capital Management LLC acquired a new position in Martin Marietta Materials in the 1st quarter valued at $30,000. IMA Advisory Services Inc. acquired a new position in Martin Marietta Materials in the 1st quarter valued at $40,000. Finally, Bellwether Advisors LLC acquired a new position in Martin Marietta Materials in the 4th quarter valued at $46,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Martin Marietta Materials

In other news, Director Laree E. Perez sold 1,038 shares of Martin Marietta Materials 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 completion of the transaction, the director directly owned 15,417 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.69% of the company's stock.

Martin Marietta Materials Trading Up 2.1%

NYSE MLM traded up $12.39 during trading hours on Friday, hitting $613.13. 63,132 shares of the company's stock were exchanged, compared to its average volume of 476,669. The company has a current ratio of 2.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $633.23. The stock has a 50-day simple moving average of $571.88 and a 200 day simple moving average of $532.49. The firm has a market cap of $36.98 billion, a price-to-earnings ratio of 34.01, a PEG ratio of 5.48 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The construction company reported $5.43 EPS 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 period last year, the business posted $4.76 EPS. The company's revenue was up 2.7% on a year-over-year basis. Martin Marietta Materials has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd will be paid a $0.83 dividend. The ex-dividend date is Tuesday, September 2nd. This is a boost from Martin Marietta Materials's previous quarterly dividend of $0.79. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. Martin Marietta Materials's dividend payout ratio is presently 17.53%.

Wall Street Analyst Weigh In

MLM has been the topic of several analyst reports. Wall Street Zen raised Martin Marietta Materials from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Stephens restated an "overweight" rating and set a $700.00 price objective on shares of Martin Marietta Materials in a research report on Monday, August 4th. Raymond James Financial upped their price objective on Martin Marietta Materials from $600.00 to $645.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Bank of America increased their target price 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. Finally, DA Davidson increased their target price on Martin Marietta Materials from $625.00 to $700.00 and gave the company a "buy" rating in a research report on Monday, August 11th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, Martin Marietta Materials has an average rating of "Moderate Buy" and a consensus price target of $622.63.

About Martin Marietta Materials

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.