TD Asset Management Inc Sells 9,832 Shares of Martin Marietta Materials, Inc. $MLM

TD Asset Management Inc reduced its stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 8.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 111,668 shares of the construction company's stock after selling 9,832 shares during the period. TD Asset Management Inc owned approximately 0.19% of Martin Marietta Materials worth $61,301,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. PDS Planning Inc increased its stake in Martin Marietta Materials by 4.9% in the first quarter. PDS Planning Inc now owns 452 shares of the construction company's stock valued at $216,000 after purchasing an additional 21 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Martin Marietta Materials by 1.8% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,205 shares of the construction company's stock valued at $661,000 after buying an additional 21 shares during the period. First American Bank increased its position in shares of Martin Marietta Materials by 1.3% in the 1st quarter. First American Bank now owns 1,966 shares of the construction company's stock valued at $940,000 after buying an additional 25 shares in the last quarter. Valley National Advisers Inc. raised its stake in Martin Marietta Materials by 25.8% during the 2nd quarter. Valley National Advisers Inc. now owns 122 shares of the construction company's stock worth $66,000 after buying an additional 25 shares during the period. Finally, Trust Investment Advisors lifted its holdings in Martin Marietta Materials by 1.4% during the first quarter. Trust Investment Advisors now owns 1,843 shares of the construction company's stock worth $881,000 after acquiring an additional 26 shares in the last quarter. 95.04% of the stock is owned by institutional investors.

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 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 completion of the sale, the director owned 15,417 shares in the company, valued at $9,455,554.44. This trade represents a 6.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.69% of the company's stock.

Martin Marietta Materials Price Performance

Shares of NYSE MLM opened at $640.31 on Thursday. 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 business has a 50-day moving average of $618.39 and a 200-day moving average of $566.17. The stock has a market capitalization of $38.62 billion, a price-to-earnings ratio of 35.51, a PEG ratio of 5.95 and a beta of 1.01. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $665.18.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released 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). The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.88 billion. Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%.The business's revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.76 EPS. Martin Marietta Materials has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict 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 was paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd were issued a dividend of $0.83 per share. The ex-dividend date was 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%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on MLM shares. Wells Fargo & Company upgraded Martin Marietta Materials to a "hold" rating in a report on Wednesday, October 8th. Stifel Nicolaus raised their target price on shares of Martin Marietta Materials from $609.00 to $637.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $525.00 price target (up previously from $515.00) on shares of Martin Marietta Materials in a report on Friday, August 8th. Morgan Stanley raised their price objective on shares of Martin Marietta Materials from $576.00 to $605.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Finally, Bank of America boosted their price objective on shares of Martin Marietta Materials from $577.00 to $643.00 and gave the company a "neutral" rating in a research report on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $621.69.

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.

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.