Concord Wealth Partners Boosts Stock Position in Martin Marietta Materials, Inc. $MLM

Concord Wealth Partners raised its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 68.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 168 shares of the construction company’s stock after purchasing an additional 68 shares during the quarter. Concord Wealth Partners’ holdings in Martin Marietta Materials were worth $92,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Mather Group LLC. lifted its holdings 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 valued at $133,000 after buying an additional 110 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in 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 purchasing an additional 40 shares during the period. Vontobel Holding Ltd. raised its holdings in 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 purchasing an additional 218 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Martin Marietta Materials by 41.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,159 shares of the construction company’s stock worth $2,467,000 after purchasing an additional 1,505 shares during the period. Finally, Exchange Traded Concepts LLC raised its holdings in Martin Marietta Materials by 23.0% in the 1st quarter. Exchange Traded Concepts LLC now owns 454 shares of the construction company’s stock worth $217,000 after purchasing an additional 85 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

Shares of Martin Marietta Materials stock opened at $640.05 on Tuesday. The business has a 50 day simple moving average of $616.62 and a two-hundred day simple moving average of $565.02. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $643.87. The stock has a market capitalization of $38.60 billion, a P/E ratio of 35.50, a PEG ratio of 5.73 and a beta of 1.01. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 1.21.

Martin Marietta Materials (NYSE:MLM) last announced 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). Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the previous year, the company earned $4.76 EPS. Martin Marietta Materials’s revenue was up 2.7% compared to the same quarter last year. Martin Marietta Materials has set its FY 2025 guidance at EPS. As a group, analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.83 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This is an increase 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%. Martin Marietta Materials’s payout ratio is currently 18.41%.

Wall Street Analysts Forecast Growth

MLM has been the subject of a number of analyst reports. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $525.00 price target (up previously from $515.00) on shares of Martin Marietta Materials in a report on Friday, August 8th. DA Davidson upped their price target on Martin Marietta Materials from $625.00 to $700.00 and gave the stock a “buy” rating in a report on Monday, August 11th. Stifel Nicolaus upped their price target on 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, Raymond James Financial upped their price target on Martin Marietta Materials from $600.00 to $645.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $621.69.

Insider Activity

In other news, Director Laree E. Perez sold 1,038 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 15,417 shares in the company, valued at $9,455,554.44. This represents a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.68% of the stock is owned by company insiders.

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.