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

Sagespring Wealth Partners LLC boosted its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 40.5% in the second quarter, Holdings Channel.com reports. The fund owned 884 shares of the construction company’s stock after acquiring an additional 255 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Martin Marietta Materials were worth $485,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of MLM. Wayfinding Financial LLC purchased a new position in Martin Marietta Materials during the 1st quarter valued at $29,000. Chilton Capital Management LLC bought a new stake in Martin Marietta Materials during the 1st quarter valued at $30,000. Zions Bancorporation National Association UT bought a new stake in Martin Marietta Materials during the 1st quarter valued at $30,000. IMA Advisory Services Inc. bought a new stake in Martin Marietta Materials during the 1st quarter valued at $40,000. Finally, Valley National Advisers Inc. raised its position in Martin Marietta Materials by 193.9% during 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. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Insiders Place Their Bets

In related news, Director Laree E. Perez sold 1,038 shares of the business’s 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.69% of the stock is currently owned by company insiders.

Martin Marietta Materials Trading Down 2.4%

MLM opened at $624.07 on Friday. The firm has a market cap of $37.64 billion, a price-to-earnings ratio of 34.61, a PEG ratio of 5.79 and a beta of 1.01. The company has a current ratio of 2.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $665.18. The stock has a fifty day moving average price of $618.87 and a 200-day moving average price of $567.17.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Thursday, August 7th. The construction company reported $5.43 EPS for the quarter, missing the consensus estimate 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 company’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $4.76 earnings per share. Martin Marietta Materials has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share 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. Investors of record on Tuesday, September 2nd were paid 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 was Tuesday, September 2nd. This represents a $3.32 annualized dividend and a yield of 0.5%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 18.41%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Martin Marietta Materials in a research report on Wednesday, October 8th. Wells Fargo & Company raised Martin Marietta Materials to a “hold” rating in a research report on Wednesday, October 8th. Stifel Nicolaus lifted their target price on Martin Marietta Materials from $609.00 to $637.00 and gave the company a “buy” rating in a research report on Tuesday, August 12th. Stephens reaffirmed an “overweight” rating and set a $700.00 target price on shares of Martin Marietta Materials in a research report on Monday, August 4th. Finally, Morgan Stanley boosted their price target on Martin Marietta Materials from $576.00 to $605.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. Two 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 stock. According to MarketBeat.com, Martin Marietta Materials presently has an average rating of “Moderate Buy” and a consensus target price of $621.69.

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.