Ritholtz Wealth Management Decreases Stock Position in Martin Marietta Materials, Inc. $MLM

Key Points

• Ritholtz Wealth Management reduced its stake in Martin Marietta Materials by 43.5%, selling 484 shares and now owning 628 shares valued at approximately $345,000.
• Martin Marietta recently reported quarterly earnings with an EPS of $5.43, slightly missing estimates, and its revenue was $1.81 billion, reflecting a 2.7% increase from the previous year.
• The company announced a quarterly dividend increase from $0.79 to $0.83 per share, resulting in an annual yield of 0.5%, supported by a low payout ratio of 18.41%.

Ritholtz Wealth Management cut its holdings in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 43.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 628 shares of the construction company's stock after selling 484 shares during the quarter. Ritholtz Wealth Management's holdings in Martin Marietta Materials were worth $345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in 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 valued at $3,510,602,000 after acquiring an additional 168,175 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Martin Marietta Materials by 10.1% in the 1st quarter. JPMorgan Chase & Co. now owns 2,944,694 shares of the construction company's stock worth $1,407,947,000 after purchasing an additional 268,928 shares in the last quarter. Principal Financial Group Inc. lifted its position in Martin Marietta Materials by 6.6% in the 1st 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 in the last quarter. Amundi lifted its position in 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 in the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its position in Martin Marietta Materials by 39.2% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 659,363 shares of the construction company's stock valued at $315,261,000 after acquiring an additional 185,731 shares in the last quarter. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Stock Performance

Martin Marietta Materials stock opened at $627.19 on Tuesday. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $665.18. The company has a market capitalization of $37.83 billion, a PE ratio of 34.79, a P/E/G ratio of 5.67 and a beta of 1.01. The company has a 50 day moving average price of $619.68 and a 200-day moving average price of $570.36. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.21 and a current ratio of 2.35.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The construction company reported $5.43 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.88 billion. During the same period last year, the company earned $4.76 EPS. The firm's revenue for the quarter 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, equities analysts forecast 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 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 is a boost from Martin Marietta Materials's previous quarterly dividend of $0.79. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $3.32 annualized dividend and a yield of 0.5%. Martin Marietta Materials's payout ratio is 18.41%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on MLM shares. 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. Bank of America increased their price target on Martin Marietta Materials from $577.00 to $643.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. DA Davidson increased their price target on Martin Marietta Materials from $625.00 to $700.00 and gave the stock a "buy" rating in a research note on Monday, August 11th. Wells Fargo & Company raised shares of Martin Marietta Materials to a "hold" rating in a report on Wednesday, October 8th. Finally, Stifel Nicolaus increased their price objective on shares of Martin Marietta Materials from $609.00 to $637.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Martin Marietta Materials has a consensus rating of "Moderate Buy" and a consensus target price of $626.38.

Insider Transactions at Martin Marietta Materials

In other Martin Marietta Materials news, Director Laree E. Perez sold 1,038 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $613.32, for a total transaction of $636,626.16. Following the sale, the director 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 can be accessed through this hyperlink. Company insiders own 0.68% of the company's stock.

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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