Strs Ohio Purchases New Holdings in Martin Marietta Materials, Inc. $MLM

Key Points

• Strs Ohio has made an $18.89 million investment in Martin Marietta Materials, acquiring 39,500 shares of the company during the 1st quarter.
• Several institutional investors have increased their stakes in Martin Marietta Materials, which now has 95.04% institutional ownership.
• The company has announced a quarterly dividend increase from $0.79 to $0.83 per share, reflecting a commitment to returning value to shareholders.

Strs Ohio acquired a new stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 39,500 shares of the construction company's stock, valued at approximately $18,886,000. Strs Ohio owned approximately 0.07% of Martin Marietta Materials at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Wayfinding Financial LLC bought a new stake in Martin Marietta Materials during the first quarter worth $29,000. Zions Bancorporation National Association UT purchased a new stake in Martin Marietta Materials during the 1st quarter valued at about $30,000. Chilton Capital Management LLC purchased a new stake in Martin Marietta Materials in the 1st quarter worth approximately $30,000. IMA Advisory Services Inc. bought a new position in shares of Martin Marietta Materials in the 1st quarter worth approximately $40,000. Finally, Valley National Advisers Inc. raised its position 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 worth $45,000 after acquiring an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company's stock.

Insiders Place Their Bets

In other Martin Marietta Materials news, Director Laree E. Perez sold 1,038 shares of the 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 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.69% of the company's stock.

Martin Marietta Materials Stock Down 0.2%

Martin Marietta Materials stock traded down $1.33 during mid-day trading on Tuesday, reaching $609.75. 296,082 shares of the company were exchanged, compared to its average volume of 469,679. The business has a fifty day moving average of $596.21 and a 200 day moving average of $545.02. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.21 and a current ratio of 2.35. The firm has a market cap of $36.77 billion, a P/E ratio of 33.82, a PEG ratio of 5.58 and a beta of 0.94. Martin Marietta Materials, Inc. has a 12-month low of $441.95 and a 12-month high of $633.23.

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 (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the previous year, the company posted $4.76 earnings per share. The business'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. Research 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $3.32 annualized dividend and a yield of 0.5%. This is an increase from Martin Marietta Materials's previous quarterly dividend of $0.79. Martin Marietta Materials's payout ratio is 18.41%.

Analyst Ratings Changes

MLM has been the subject of a number of research analyst reports. Bank of America lifted their target price on Martin Marietta Materials from $577.00 to $643.00 and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Raymond James Financial lifted their target price on Martin Marietta Materials from $600.00 to $645.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. DA Davidson boosted their price objective 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. Stifel Nicolaus upped their target price on Martin Marietta Materials from $609.00 to $637.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. Finally, Wall Street Zen raised Martin Marietta Materials from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Two research 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 stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price 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.