Salomon & Ludwin LLC Acquires 47 Shares of Martin Marietta Materials, Inc. $MLM

Salomon & Ludwin LLC increased its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 156.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77 shares of the construction company’s stock after purchasing an additional 47 shares during the period. Salomon & Ludwin LLC’s holdings in Martin Marietta Materials were worth $43,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Mather Group LLC. lifted its holdings in shares of Martin Marietta Materials by 65.5% during the 1st quarter. Mather Group LLC. now owns 278 shares of the construction company’s stock valued at $133,000 after purchasing an additional 110 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake 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 valued at $1,457,000 after acquiring an additional 40 shares in the last quarter. Vontobel Holding Ltd. lifted its stake in Martin Marietta Materials by 30.5% in the 1st quarter. Vontobel Holding Ltd. now owns 933 shares of the construction company’s stock valued at $446,000 after acquiring an additional 218 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake 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 valued at $2,467,000 after acquiring an additional 1,505 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake 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 valued at $217,000 after acquiring an additional 85 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Up 0.3%

NYSE:MLM opened at $625.84 on Monday. The firm has a market capitalization of $37.74 billion, a price-to-earnings ratio of 34.71, a price-to-earnings-growth ratio of 5.67 and a beta of 1.01. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $665.18. The stock’s 50 day moving average price is $619.15 and its two-hundred day moving average price is $569.26. The company has a quick ratio of 1.21, a current ratio of 2.35 and a debt-to-equity ratio of 0.56.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Thursday, August 7th. The construction company reported $5.43 earnings per share for the quarter, missing the consensus estimate of $5.44 by ($0.01). The company had revenue of $1.81 billion for 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% compared to the same quarter last year. During the same period last year, the firm earned $4.76 EPS. Martin Marietta Materials has set its FY 2025 guidance at EPS. Equities 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd were issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.79. Martin Marietta Materials’s payout ratio is presently 18.41%.

Analyst Upgrades and Downgrades

Several research firms have commented on MLM. Stifel Nicolaus boosted their target price on Martin Marietta Materials from $609.00 to $637.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. Bank of America boosted their target price on Martin Marietta Materials from $577.00 to $643.00 and gave the company a “neutral” rating in a research note on Tuesday, August 5th. Raymond James Financial boosted their target price on Martin Marietta Materials from $600.00 to $645.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Weiss Ratings restated a “buy (b-)” rating on shares of Martin Marietta Materials in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $621.69.

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 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 of the company’s stock, valued at approximately $9,455,554.44. The trade was a 6.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.68% 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.