Sequoia Financial Advisors LLC Purchases 564 Shares of Martin Marietta Materials, Inc. $MLM

Key Points

• Sequoia Financial Advisors LLC increased its stake in Martin Marietta Materials, Inc. by 5.0% by purchasing an additional 564 shares, bringing its total holdings to 11,873 shares valued at approximately $6.5 million.
• Martin Marietta Materials reported $5.43 earnings per share for the last quarter, slightly missing the consensus estimate, with a 2.7% year-over-year revenue increase.
• The firm increased its quarterly dividend to $0.83, reflecting a boost from its previous $0.79 and resulting in an annualized yield of 0.5%.

Sequoia Financial Advisors LLC boosted its stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 5.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,873 shares of the construction company's stock after buying an additional 564 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Martin Marietta Materials were worth $6,518,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in MLM. Wayfinding Financial LLC acquired a new stake in Martin Marietta Materials in the first quarter worth $29,000. Chilton Capital Management LLC bought a new stake in shares of Martin Marietta Materials during the 1st quarter worth about $30,000. Zions Bancorporation National Association UT acquired a new stake in shares of Martin Marietta Materials during the first quarter worth $30,000. IMA Advisory Services Inc. acquired a new position in Martin Marietta Materials in the 1st quarter valued at $40,000. Finally, Valley National Advisers Inc. grew its holdings in shares of Martin Marietta Materials by 193.9% during the first quarter. Valley National Advisers Inc. now owns 97 shares of the construction company's stock worth $45,000 after purchasing an additional 64 shares during the last quarter. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock opened at $640.05 on Tuesday. Martin Marietta Materials, Inc. has a 1 year low of $441.95 and a 1 year high of $643.87. The firm's 50-day moving average is $616.62 and its 200 day moving average is $565.02. 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 stock has a market cap of $38.60 billion, a price-to-earnings ratio of 35.50, a PEG ratio of 5.73 and a beta of 1.01.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The construction company reported $5.43 earnings per share 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 business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter last year, the company earned $4.76 EPS. Martin Marietta Materials's revenue for the quarter was up 2.7% on a year-over-year basis. Martin Marietta Materials has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd were paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 0.5%. 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. Martin Marietta Materials's payout ratio is currently 18.41%.

Analyst Upgrades and Downgrades

MLM has been the topic of several research analyst reports. DA Davidson upped 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. Stephens restated an "overweight" rating and set a $700.00 price objective on shares of Martin Marietta Materials in a research note on Monday, August 4th. Raymond James Financial lifted their price target on Martin Marietta Materials from $600.00 to $645.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Wells Fargo & Company raised Martin Marietta Materials to a "hold" rating in a report on Wednesday, October 8th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Martin Marietta Materials in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Martin Marietta Materials presently has an average rating of "Moderate Buy" and an average target price of $621.69.

Insider Transactions at Martin Marietta Materials

In other news, Director Laree E. Perez sold 1,038 shares of Martin Marietta Materials stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $613.32, for a total value of $636,626.16. Following the transaction, the director owned 15,417 shares of the company's stock, valued at $9,455,554.44. The trade was a 6.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.68% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.