Martin Marietta Materials, Inc. $MLM Stock Position Lessened by Southeast Asset Advisors LLC

Key Points

• Southeast Asset Advisors LLC reduced its stake in Martin Marietta Materials by 20.0%, selling 1,838 shares, leaving them with 7,367 shares valued at $3.52 million.
• Analysts are optimistic about Martin Marietta Materials, with multiple firms raising their price targets; UBS upgraded its rating to "buy" and set a target of $634, while others boosted targets to as high as $645.
• Martin Marietta Materials announced a quarterly dividend increase to $0.83 per share, up from $0.79, with an ex-dividend date of September 2nd.

Southeast Asset Advisors LLC lessened its holdings in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 20.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,367 shares of the construction company's stock after selling 1,838 shares during the period. Southeast Asset Advisors LLC's holdings in Martin Marietta Materials were worth $3,522,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Wayfinding Financial LLC purchased a new stake in Martin Marietta Materials during the 1st quarter valued at $29,000. Chilton Capital Management LLC bought a new stake in Martin Marietta Materials during the 1st quarter valued at $30,000. Zions Bancorporation National Association UT purchased a new stake in Martin Marietta Materials in the first quarter worth about $30,000. IMA Advisory Services Inc. bought a new position in shares of Martin Marietta Materials during the first quarter valued at approximately $40,000. Finally, Valley National Advisers Inc. increased its holdings in shares of Martin Marietta Materials by 193.9% in the 1st quarter. Valley National Advisers Inc. now owns 97 shares of the construction company's stock valued at $45,000 after acquiring an additional 64 shares during the period. Institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Stock Down 0.7%

Shares of Martin Marietta Materials stock traded down $4.18 during trading hours on Thursday, hitting $612.46. The company had a trading volume of 292,794 shares, compared to its average volume of 477,759. The company's 50-day moving average is $577.52 and its two-hundred day moving average is $534.46. The company has a market cap of $36.94 billion, a P/E ratio of 33.97, a price-to-earnings-growth ratio of 5.63 and a beta of 0.89. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $633.23. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 1.21.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings results 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). The company 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 revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $4.76 earnings per share. Martin Marietta Materials has set its FY 2025 guidance at EPS. 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 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 $0.83 dividend. The ex-dividend date is Tuesday, September 2nd. This is an increase 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 payout ratio is 17.53%.

Insider Activity

In related news, Director Laree E. Perez sold 1,038 shares of the firm's stock in a transaction dated 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 directly owned 15,417 shares in the company, valued at approximately $9,455,554.44. This trade represents a 6.31% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.69% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Wall Street Zen raised Martin Marietta Materials from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Morgan Stanley boosted their target price on shares of Martin Marietta Materials from $576.00 to $605.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Stifel Nicolaus raised their price objective on Martin Marietta Materials from $609.00 to $637.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. UBS Group raised shares of Martin Marietta Materials from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $548.00 to $634.00 in a research note on Friday, May 16th. Finally, Royal Bank Of Canada restated a "sector perform" rating and issued a $525.00 price objective (up previously from $515.00) on shares of Martin Marietta Materials in a report on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Martin Marietta Materials currently has a consensus rating of "Moderate Buy" and an average price target of $622.63.

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.