Huntleigh Advisors Inc. Takes Position in Martin Marietta Materials, Inc. $MLM

Huntleigh Advisors Inc. purchased a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,381 shares of the construction company’s stock, valued at approximately $2,405,000.

A number of other hedge funds also recently made changes to their positions in the stock. Turtle Creek Wealth Advisors LLC boosted its stake in shares of Martin Marietta Materials by 13.5% in the 2nd quarter. Turtle Creek Wealth Advisors LLC now owns 10,230 shares of the construction company’s stock valued at $5,616,000 after purchasing an additional 1,217 shares in the last quarter. Curated Wealth Partners LLC boosted its stake in shares of Martin Marietta Materials by 6.2% in the 2nd quarter. Curated Wealth Partners LLC now owns 1,395 shares of the construction company’s stock valued at $766,000 after purchasing an additional 82 shares in the last quarter. Cypress Wealth Services LLC acquired a new stake in shares of Martin Marietta Materials in the 2nd quarter valued at approximately $229,000. Sagespring Wealth Partners LLC boosted its stake in shares of Martin Marietta Materials by 40.5% in the 2nd quarter. Sagespring Wealth Partners LLC now owns 884 shares of the construction company’s stock valued at $485,000 after purchasing an additional 255 shares in the last quarter. Finally, Axxcess Wealth Management LLC boosted its stake in shares of Martin Marietta Materials by 134.3% in the 2nd quarter. Axxcess Wealth Management LLC now owns 1,406 shares of the construction company’s stock valued at $772,000 after purchasing an additional 806 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MLM shares. Raymond James Financial lifted their target price on shares of Martin Marietta Materials from $600.00 to $645.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Wells Fargo & Company upgraded shares of Martin Marietta Materials to a “hold” rating in a research report on Wednesday, October 8th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $525.00 target price (up from $515.00) on shares of Martin Marietta Materials in a research report on Friday, August 8th. Bank of America lifted their target price on shares of Martin Marietta Materials from $577.00 to $643.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 5th. Finally, Stifel Nicolaus lifted their target price on shares of Martin Marietta Materials from $609.00 to $637.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $621.69.

Martin Marietta Materials Stock Up 0.3%

Shares of NYSE MLM opened at $625.84 on Friday. The company has a market capitalization of $37.74 billion, a P/E ratio of 34.71, a price-to-earnings-growth ratio of 5.66 and a beta of 1.01. Martin Marietta Materials, Inc. has a 52-week low of $441.95 and a 52-week high of $665.18. 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 company’s 50 day moving average price is $619.15 and its 200-day moving average price is $568.15.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Thursday, August 7th. The construction company reported $5.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.44 by ($0.01). The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.88 billion. Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%.The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $4.76 EPS. Martin Marietta Materials has set its FY 2025 guidance at EPS. Equities analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd were given a $0.83 dividend. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.79. The ex-dividend date 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 is presently 18.41%.

Insider Activity

In other 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 value of $636,626.16. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.69% of the company’s stock.

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.