UniSuper Management Pty Ltd Acquires 453 Shares of Martin Marietta Materials, Inc. $MLM

Key Points

• UniSuper Management Pty Ltd increased its stake in Martin Marietta Materials by 7.8%, purchasing an additional 453 shares, bringing its total to 6,226 shares worth approximately $2.98 million.
• Martin Marietta reported a quarterly earnings per share (EPS) of $5.43, slightly missing the consensus estimate of $5.44, with revenue at $1.81 billion, up 2.7% from the previous year.
• The company recently raised its quarterly dividend to $0.83 per share, representing a 0.5% yield and an annual payout of $3.32, reflecting its commitment to returning value to shareholders.

UniSuper Management Pty Ltd increased its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 7.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,226 shares of the construction company's stock after acquiring an additional 453 shares during the quarter. UniSuper Management Pty Ltd's holdings in Martin Marietta Materials were worth $2,977,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Martin Marietta Materials by 2.3% in the first quarter. Vanguard Group Inc. now owns 7,342,358 shares of the construction company's stock worth $3,510,602,000 after acquiring an additional 168,175 shares in the last quarter. JPMorgan Chase & Co. grew its position in Martin Marietta Materials by 10.1% in the first quarter. JPMorgan Chase & Co. now owns 2,944,694 shares of the construction company's stock worth $1,407,947,000 after acquiring an additional 268,928 shares in the last quarter. Principal Financial Group Inc. grew its position in Martin Marietta Materials by 6.6% in the first quarter. Principal Financial Group Inc. now owns 1,940,423 shares of the construction company's stock worth $927,775,000 after acquiring an additional 120,679 shares in the last quarter. Amundi boosted its holdings in shares of Martin Marietta Materials by 9.2% during the 1st quarter. Amundi now owns 1,706,416 shares of the construction company's stock worth $827,345,000 after buying an additional 144,270 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Martin Marietta Materials by 58,570.5% during the 1st quarter. GAMMA Investing LLC now owns 697,592 shares of the construction company's stock worth $333,540,000 after buying an additional 696,403 shares during the period. Institutional investors and hedge funds own 95.04% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on MLM shares. Bank of America upped their price objective on shares of Martin Marietta Materials from $577.00 to $643.00 and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Stifel Nicolaus lifted their price objective on shares of Martin Marietta Materials from $609.00 to $637.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. UBS Group raised shares of Martin Marietta Materials from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $548.00 to $634.00 in a research report on Friday, May 16th. Raymond James Financial upped their price objective on shares of Martin Marietta Materials from $600.00 to $645.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Finally, Royal Bank Of Canada restated a "sector perform" rating and issued a $525.00 price target (up from $515.00) on shares of Martin Marietta Materials in a research note on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Martin Marietta Materials presently has an average rating of "Moderate Buy" and a consensus price target of $622.63.

Insider Activity

In related news, Director Laree E. Perez sold 1,038 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $613.32, for a total value of $636,626.16. Following the transaction, the director directly owned 15,417 shares in the company, valued at $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 available at this link. 0.69% of the stock is currently owned by corporate insiders.

Martin Marietta Materials Price Performance

Shares of MLM stock traded down $14.51 on Friday, reaching $616.61. The company had a trading volume of 331,389 shares, compared to its average volume of 361,376. The stock has a market capitalization of $37.19 billion, a PE ratio of 34.20, a price-to-earnings-growth ratio of 5.72 and a beta of 0.94. 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 one year low of $441.95 and a one year high of $633.23. The business's 50-day moving average is $594.11 and its 200 day moving average is $542.90.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its earnings results on Thursday, August 7th. The construction company reported $5.43 EPS for the quarter, missing analysts' consensus estimates of $5.44 by ($0.01). The company had revenue of $1.81 billion during 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 firm's revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company posted $4.76 EPS. Martin Marietta Materials has set its FY 2025 guidance at EPS. Equities research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.83 per share. This is a positive change from Martin Marietta Materials's previous quarterly dividend of $0.79. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. Martin Marietta Materials's payout ratio is 18.41%.

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.