Whittier Trust Co. increased its holdings in Martin Marietta Materials, Inc. (NYSE:MLM – Free Report) by 12.6% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 18,678 shares of the construction company’s stock after purchasing an additional 2,085 shares during the period. Whittier Trust Co.’s holdings in Martin Marietta Materials were worth $10,253,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of MLM. GAMMA Investing LLC boosted its holdings in Martin Marietta Materials by 22.7% in the 1st quarter. GAMMA Investing LLC now owns 1,459 shares of the construction company’s stock worth $698,000 after buying an additional 270 shares during the period. Wealth Enhancement Advisory Services LLC boosted 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 buying an additional 1,505 shares during the period. Kentucky Retirement Systems Insurance Trust Fund bought a new position in Martin Marietta Materials in the 1st quarter worth approximately $853,000. GHP Investment Advisors Inc. boosted its holdings in Martin Marietta Materials by 6.1% in the 1st quarter. GHP Investment Advisors Inc. now owns 18,352 shares of the construction company’s stock worth $8,775,000 after buying an additional 1,052 shares during the period. Finally, YHB Investment Advisors Inc. bought a new position in Martin Marietta Materials in the 1st quarter worth approximately $279,000. 95.04% of the stock is owned by institutional investors.
Insider Activity
In other news, Director Laree E. Perez sold 1,038 shares of Martin Marietta Materials stock in a transaction 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 sale, 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 SEC, which is accessible through this link. Corporate insiders own 0.68% of the company’s stock.
Martin Marietta Materials Stock Up 0.9%
Martin Marietta Materials (NYSE:MLM – Get Free Report) last announced 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). 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 during the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the business earned $4.76 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. Martin Marietta Materials has set its FY 2025 guidance at EPS. Analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.
Martin Marietta Materials Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders 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 represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.79. Martin Marietta Materials’s payout ratio is presently 18.41%.
Wall Street Analyst Weigh In
Several research firms recently commented on MLM. Morgan Stanley raised their price objective on shares of Martin Marietta Materials from $576.00 to $605.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. 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. Barclays raised their price objective on shares of Martin Marietta Materials from $600.00 to $675.00 and gave the stock an “overweight” rating in a report on Monday. DA Davidson raised their price objective on shares of Martin Marietta Materials from $625.00 to $700.00 and gave the stock a “buy” rating in a report on Monday, August 11th. Finally, Stifel Nicolaus raised their price target on shares of Martin Marietta Materials from $609.00 to $637.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. Two research 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. Based on data from MarketBeat.com, Martin Marietta Materials currently has an average rating of “Moderate Buy” and a consensus target price of $628.56.
Get Our Latest Analysis on Martin Marietta Materials
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.
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