Tran Capital Management L.P. Buys 2,693 Shares of Martin Marietta Materials, Inc. $MLM

Tran Capital Management L.P. boosted its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 4.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 58,309 shares of the construction company’s stock after purchasing an additional 2,693 shares during the period. Martin Marietta Materials makes up 3.8% of Tran Capital Management L.P.’s portfolio, making the stock its 10th largest position. Tran Capital Management L.P.’s holdings in Martin Marietta Materials were worth $32,009,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new position in Martin Marietta Materials in the 1st quarter valued at about $29,000. Zions Bancorporation National Association UT acquired a new position in Martin Marietta Materials in the 1st quarter valued at about $30,000. Chilton Capital Management LLC acquired a new position in Martin Marietta Materials in the 1st quarter valued at about $30,000. IMA Advisory Services Inc. purchased a new stake in Martin Marietta Materials in the 1st quarter valued at approximately $40,000. Finally, Valley National Advisers Inc. boosted its holdings in Martin Marietta Materials by 193.9% in the 1st quarter. Valley National Advisers Inc. now owns 97 shares of the construction company’s stock valued at $45,000 after purchasing an additional 64 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analysts Set New Price Targets

MLM has been the topic of a number of analyst reports. Raymond James Financial lifted their price objective on Martin Marietta Materials from $600.00 to $645.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Bank of America lifted their price objective on Martin Marietta Materials from $577.00 to $643.00 and gave the company a “neutral” rating in a report on Tuesday, August 5th. Wall Street Zen raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Stephens reaffirmed an “overweight” rating and issued a $700.00 price objective on shares of Martin Marietta Materials in a report on Monday, August 4th. Finally, DA Davidson lifted their price objective on Martin Marietta Materials from $625.00 to $700.00 and gave the company a “buy” rating in a report on Monday, August 11th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Martin Marietta Materials has a consensus rating of “Moderate Buy” and a consensus target price of $622.63.

Insider Buying and Selling at Martin Marietta Materials

In related news, Director Laree E. Perez sold 1,038 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $613.32, for a total transaction of $636,626.16. Following the completion of the transaction, the director owned 15,417 shares in the company, valued at approximately $9,455,554.44. The trade was a 6.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.69% of the stock is currently owned by company insiders.

Martin Marietta Materials Trading Down 0.3%

Martin Marietta Materials stock opened at $618.41 on Friday. The company has a 50 day moving average price of $599.34 and a 200 day moving average price of $548.08. Martin Marietta Materials, Inc. has a 52 week low of $441.95 and a 52 week high of $633.23. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.21 and a current ratio of 2.35. The firm has a market capitalization of $37.30 billion, a price-to-earnings ratio of 34.30, a P/E/G ratio of 5.61 and a beta of 0.94.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Thursday, August 7th. The construction company reported $5.43 earnings per share for the quarter, missing analysts’ consensus estimates of $5.44 by ($0.01). The business 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%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.76 EPS. Martin Marietta Materials has set its FY 2025 guidance at EPS. Research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd will be paid a $0.83 dividend. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.79. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Tuesday, September 2nd. Martin Marietta Materials’s payout ratio 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.