Sumitomo Mitsui DS Asset Management Company Ltd Raises Stock Position in Martin Marietta Materials, Inc. $MLM

Key Points

• Sumitomo Mitsui DS Asset Management increased its stake in Martin Marietta Materials by 11.8%, adding 812 shares, which brings their total holdings to 7,715 shares valued at approximately $4.23 million.
• Martin Marietta Materials recently declared a quarterly dividend of $0.83 per share, which is an increase from the previous dividend of $0.79, reflecting a 0.5% dividend yield.
• The company reported earnings per share of $5.43 for the last quarter, slightly missing analysts' expectations, while revenue was $1.81 billion, up 2.7% from the previous year.

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 11.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,715 shares of the construction company's stock after buying an additional 812 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Martin Marietta Materials were worth $4,235,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Wayfinding Financial LLC bought a new position in shares of Martin Marietta Materials in the first quarter worth approximately $29,000. Chilton Capital Management LLC bought a new position in shares of Martin Marietta Materials during the first quarter worth $30,000. Zions Bancorporation National Association UT bought a new position in shares of Martin Marietta Materials during the first quarter worth $30,000. IMA Advisory Services Inc. bought a new position in shares of Martin Marietta Materials during the first quarter worth $40,000. Finally, Valley National Advisers Inc. boosted its position 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 acquiring an additional 64 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Trading Down 0.7%

MLM stock traded down $4.62 during trading on Tuesday, hitting $615.21. The company had a trading volume of 75,339 shares, compared to its average volume of 466,522. The company has a quick ratio of 1.21, a current ratio of 2.35 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a 52-week low of $441.95 and a 52-week high of $633.23. The company has a 50 day simple moving average of $600.47 and a 200-day simple moving average of $549.70. The firm has a market capitalization of $37.10 billion, a P/E ratio of 34.15, a PEG ratio of 5.61 and a beta of 0.94.

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 (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 business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the previous year, the company earned $4.76 earnings per share. The firm's revenue was up 2.7% on a year-over-year basis. Martin Marietta Materials has set its FY 2025 guidance at EPS. As a group, 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 0.5%. The ex-dividend date is Tuesday, September 2nd. This is a positive change from Martin Marietta Materials's previous quarterly dividend of $0.79. Martin Marietta Materials's dividend payout ratio (DPR) is currently 18.41%.

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 dated Friday, August 8th. The shares were sold at an average price of $613.32, for a total transaction of $636,626.16. Following the transaction, the director directly owned 15,417 shares in the company, valued at $9,455,554.44. This represents a 6.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.68% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Stephens restated an "overweight" rating and set a $700.00 target price on shares of Martin Marietta Materials in a research report on Monday, August 4th. DA Davidson upped their target price on shares of Martin Marietta Materials from $625.00 to $700.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. Royal Bank Of Canada restated a "sector perform" rating and set a $525.00 target price (up previously from $515.00) on shares of Martin Marietta Materials in a research report on Friday, August 8th. Stifel Nicolaus upped their target price on shares of Martin Marietta Materials from $609.00 to $637.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. Finally, Wall Street Zen upgraded shares of Martin Marietta Materials from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Martin Marietta Materials currently has a consensus rating of "Moderate Buy" and an average target price of $622.63.

Martin Marietta Materials Company 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.