Sciencast Management LP Buys 1,738 Shares of Martin Marietta Materials, Inc. $MLM

Key Points

• Sciencast Management LP increased its stake in Martin Marietta Materials by 30.4%, acquiring an additional 1,738 shares, bringing its total ownership to 7,446 shares valued at $3.56 million.
• The company reported earnings per share of $5.43 for the last quarter, slightly missing analysts' expectations, while revenue was also below forecasts at $1.81 billion.
• Martin Marietta Materials announced a quarterly dividend increase to $0.83 per share, with the dividend payout ratio currently at 18.41%.

Sciencast Management LP grew its stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 30.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,446 shares of the construction company's stock after acquiring an additional 1,738 shares during the quarter. Martin Marietta Materials accounts for 0.8% of Sciencast Management LP's holdings, making the stock its 25th biggest position. Sciencast Management LP's holdings in Martin Marietta Materials were worth $3,560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Wayfinding Financial LLC bought a new stake in shares of Martin Marietta Materials in the 1st quarter valued at about $29,000. Chilton Capital Management LLC bought a new stake in shares of Martin Marietta Materials in the 1st quarter valued at about $30,000. Zions Bancorporation National Association UT bought a new stake in shares of Martin Marietta Materials in the 1st quarter valued at about $30,000. IMA Advisory Services Inc. bought a new stake in Martin Marietta Materials during the 1st quarter worth approximately $40,000. Finally, Valley National Advisers Inc. increased its stake in Martin Marietta Materials by 193.9% during the 1st quarter. Valley National Advisers Inc. now owns 97 shares of the construction company's stock worth $45,000 after purchasing an additional 64 shares in the last quarter. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Price Performance

Shares of MLM opened at $622.76 on Monday. The company has a market cap of $37.56 billion, a price-to-earnings ratio of 34.54, a PEG ratio of 5.64 and a beta of 0.94. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $633.23. The company's fifty day simple moving average is $587.60 and its 200 day simple moving average is $539.05. 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 (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). The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.88 billion. Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%.Martin Marietta Materials's quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.76 earnings per share. Martin Marietta Materials has set its FY 2025 guidance at EPS. On average, research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share 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. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.83 per share. The ex-dividend date is Tuesday, September 2nd. This is a positive change from Martin Marietta Materials's previous quarterly dividend of $0.79. This represents a $3.32 dividend on an annualized basis and a yield of 0.5%. Martin Marietta Materials's dividend payout ratio is presently 18.41%.

Insiders Place Their Bets

In other Martin Marietta Materials 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 transaction of $636,626.16. Following the completion of the sale, the director owned 15,417 shares of the company's stock, valued at $9,455,554.44. This trade represents a 6.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.68% of the company's stock.

Analyst Ratings Changes

MLM has been the subject of a number of research reports. Bank of America increased their target price 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. Royal Bank Of Canada reissued a "sector perform" rating and set a $525.00 target price (up from $515.00) on shares of Martin Marietta Materials in a research note on Friday, August 8th. Morgan Stanley increased their target price on Martin Marietta Materials from $576.00 to $605.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Raymond James Financial increased their target price on Martin Marietta Materials from $600.00 to $645.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Finally, Wall Street Zen raised Martin Marietta Materials from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock 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.

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