US Bancorp DE Acquires 697 Shares of Martin Marietta Materials, Inc. $MLM

Key Points

• US Bancorp DE increased its holdings in Martin Marietta Materials by 7.0% during the second quarter, adding 697 shares and bringing its total ownership to approximately $5.85 million.
• Analysts are optimistic about Martin Marietta Materials, with several firms raising their price targets, including Stifel Nicolaus and DA Davidson, indicating a strong demand with a consensus average target price of $621.69.
• The company recently declared a quarterly dividend of $0.83 per share, reflecting an increase from the previous quarterly dividend of $0.79, with an annualized payout of $3.32.

US Bancorp DE boosted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 7.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,649 shares of the construction company's stock after buying an additional 697 shares during the quarter. US Bancorp DE's holdings in Martin Marietta Materials were worth $5,846,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. PDS Planning Inc grew its position in Martin Marietta Materials by 4.9% in the 1st quarter. PDS Planning Inc now owns 452 shares of the construction company's stock valued at $216,000 after purchasing an additional 21 shares during the period. MassMutual Private Wealth & Trust FSB grew its position in 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 purchasing an additional 21 shares during the period. First American Bank grew its position in 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 purchasing an additional 25 shares during the period. Valley National Advisers Inc. grew its position in Martin Marietta Materials by 25.8% in the 2nd quarter. Valley National Advisers Inc. now owns 122 shares of the construction company's stock valued at $66,000 after purchasing an additional 25 shares during the period. Finally, Trust Investment Advisors grew its position in Martin Marietta Materials by 1.4% in the 1st quarter. Trust Investment Advisors now owns 1,843 shares of the construction company's stock valued at $881,000 after purchasing an additional 26 shares during the period. Institutional investors own 95.04% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on MLM shares. Morgan Stanley lifted their price target on shares of Martin Marietta Materials from $576.00 to $605.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Wells Fargo & Company raised shares of Martin Marietta Materials to a "hold" rating in a research report on Wednesday, October 8th. Stifel Nicolaus lifted their price target on shares of Martin Marietta Materials from $609.00 to $637.00 and gave the company a "buy" rating in a research report on Tuesday, August 12th. DA Davidson lifted their price target on shares of Martin Marietta Materials from $625.00 to $700.00 and gave the company a "buy" rating in a research report on Monday, August 11th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Martin Marietta Materials in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, Martin Marietta Materials presently has an average rating of "Moderate Buy" and an average target price of $621.69.

Insider Activity at Martin Marietta Materials

In other news, Director Laree E. Perez sold 1,038 shares of Martin Marietta Materials stock in a transaction on 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 in the company, valued at $9,455,554.44. The trade was a 6.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.68% of the stock is owned by insiders.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $632.22 on Monday. The company has a current ratio of 2.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.56. The stock's fifty day simple moving average is $615.86 and its two-hundred day simple moving average is $563.88. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $640.00. The stock has a market cap of $38.13 billion, a PE ratio of 35.06, a price-to-earnings-growth ratio of 5.73 and a beta of 1.01.

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). 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 net margin of 16.47% and a return on equity of 11.88%. Martin Marietta Materials's revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $4.76 earnings per share. Martin Marietta Materials has set its FY 2025 guidance at EPS. As a group, analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was 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 presently 18.41%.

Martin Marietta Materials 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.

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