Texas Capital Bank Wealth Management Services Inc Buys New Stake in Martin Marietta Materials, Inc. $MLM

Key Points

• Texas Capital Bank Wealth Management Services Inc has acquired a new position in Martin Marietta Materials, purchasing 519 shares valued at approximately $248,000, highlighting continued institutional interest in the company.
• Martin Marietta Materials has increased its quarterly dividend from $0.79 to $0.83 per share, effective September 30th, which reflects the company's commitment to return value to shareholders.
• Despite missing earnings expectations with a reported $5.43 earnings per share, the company showed a 2.7% increase in revenue compared to the same quarter last year, underscoring resilience in its financial performance.

Texas Capital Bank Wealth Management Services Inc bought a new position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 519 shares of the construction company's stock, valued at approximately $248,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sunbeam Capital Management LLC purchased a new stake in shares of Martin Marietta Materials in the 4th quarter worth about $235,000. Waverly Advisors LLC grew its position in shares of Martin Marietta Materials by 78.9% in the 4th quarter. Waverly Advisors LLC now owns 1,041 shares of the construction company's stock worth $538,000 after buying an additional 459 shares during the period. Mather Group LLC. grew its position in shares of Martin Marietta Materials by 65.5% in the 1st quarter. Mather Group LLC. now owns 278 shares of the construction company's stock worth $133,000 after buying an additional 110 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Martin Marietta Materials by 1.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,007 shares of the construction company's stock worth $1,457,000 after buying an additional 40 shares during the period. Finally, Vontobel Holding Ltd. grew its position in shares of Martin Marietta Materials by 30.5% in the 1st quarter. Vontobel Holding Ltd. now owns 933 shares of the construction company's stock worth $446,000 after buying an additional 218 shares during the period. 95.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Stephens reissued an "overweight" rating and set a $700.00 price objective on shares of Martin Marietta Materials in a research report on Monday, August 4th. Royal Bank Of Canada reissued a "sector perform" rating and set a $525.00 price objective (up from $515.00) on shares of Martin Marietta Materials in a research report on Friday, August 8th. UBS Group raised shares of Martin Marietta Materials from a "neutral" rating to a "buy" rating and increased their price objective for the company from $548.00 to $634.00 in a research report on Friday, May 16th. Raymond James Financial increased their price objective on shares of Martin Marietta Materials from $600.00 to $645.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Finally, Bank of America increased 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 analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $622.63.

Insider Transactions at Martin Marietta Materials

In related news, Director Laree E. Perez sold 1,038 shares of the 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 completion of the sale, the director directly owned 15,417 shares of the company's stock, valued at approximately $9,455,554.44. This represents a 6.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.68% of the company's stock.

Martin Marietta Materials Stock Performance

Shares of NYSE:MLM traded up $0.8440 during trading on Monday, hitting $608.7340. The company's stock had a trading volume of 64,741 shares, compared to its average volume of 476,011. The company has a 50-day moving average of $573.18 and a 200-day moving average of $532.84. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 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. The firm has a market cap of $36.71 billion, a price-to-earnings ratio of 33.76, a P/E/G ratio of 5.54 and a beta of 0.89.

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. On average, sell-side analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current 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 of this dividend is Tuesday, September 2nd. This represents a $3.32 annualized dividend and a yield of 0.5%. This is a positive change from Martin Marietta Materials's previous quarterly dividend of $0.79. Martin Marietta Materials's payout ratio is currently 17.53%.

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.