Vanguard Personalized Indexing Management LLC Acquires 1,658 Shares of Martin Marietta Materials, Inc. $MLM

Key Points

• Vanguard Personalized Indexing Management LLC increased its holdings in Martin Marietta Materials by 30%, acquiring an additional 1,658 shares during the 2nd quarter, bringing total holdings to 7,180 shares valued at approximately $3.95 million.
• Martin Marietta Materials announced a quarterly dividend increase to $0.83 per share, up from $0.79, reflecting a dividend yield of 0.5% and a payout ratio of 18.41%.
• Martin Marietta's stock rose 2.8% following its recent earnings report, despite missing analysts' EPS expectations by $0.01, with reported earnings of $5.43 per share.

Vanguard Personalized Indexing Management LLC raised its holdings in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 30.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,180 shares of the construction company's stock after buying an additional 1,658 shares during the quarter. Vanguard Personalized Indexing Management LLC's holdings in Martin Marietta Materials were worth $3,951,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. PDS Planning Inc increased its holdings 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 buying an additional 21 shares during the period. 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 worth $661,000 after purchasing an additional 21 shares during the last quarter. First American Bank grew its holdings 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 worth $940,000 after purchasing an additional 25 shares during the last quarter. Valley National Advisers Inc. grew its holdings in shares of Martin Marietta Materials by 25.8% in the 2nd quarter. Valley National Advisers Inc. now owns 122 shares of the construction company's stock worth $66,000 after purchasing an additional 25 shares during the last quarter. Finally, Trust Investment Advisors grew its holdings in shares of Martin Marietta Materials by 1.4% in the 1st quarter. Trust Investment Advisors now owns 1,843 shares of the construction company's stock worth $881,000 after purchasing an additional 26 shares during the last quarter. Institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Stock Up 2.8%

Shares of NYSE MLM opened at $656.44 on Wednesday. The company has a quick ratio of 1.21, a current ratio of 2.35 and a debt-to-equity ratio of 0.56. The company has a market cap of $39.59 billion, a price-to-earnings ratio of 36.41, a price-to-earnings-growth ratio of 5.79 and a beta of 1.01. The firm's 50-day simple moving average is $617.58 and its 200 day simple moving average is $565.65. Martin Marietta Materials, Inc. has a 12-month low of $441.95 and a 12-month high of $657.36.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly 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 net margin of 16.47% and a return on equity of 11.88%. The business's revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $4.76 earnings per share. Martin Marietta Materials has set its FY 2025 guidance at EPS. On average, research analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd were paid a $0.83 dividend. This is a boost from Martin Marietta Materials's previous quarterly dividend of $0.79. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. Martin Marietta Materials's dividend payout ratio (DPR) is currently 18.41%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MLM. Morgan Stanley upped their target price 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. Stephens reaffirmed an "overweight" rating and issued a $700.00 target price on shares of Martin Marietta Materials in a report on Monday, August 4th. 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 report on Tuesday, August 12th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Martin Marietta Materials in a report on Wednesday, October 8th. Finally, Wells Fargo & Company upgraded shares of Martin Marietta Materials to a "hold" rating in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $621.69.

Insider Activity at Martin Marietta Materials

In other news, Director Laree E. Perez sold 1,038 shares of the company's stock in a transaction dated Friday, August 8th. The stock was 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 $9,455,554.44. This represents a 6.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.68% of the stock is currently owned by company insiders.

About Martin Marietta Materials

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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