Martin Marietta Materials, Inc. $MLM Shares Acquired by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. raised its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 3.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 31,996 shares of the construction company’s stock after buying an additional 1,099 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Martin Marietta Materials were worth $17,565,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of MLM. American Century Companies Inc. lifted its stake in Martin Marietta Materials by 1,880.3% during the 1st quarter. American Century Companies Inc. now owns 369,382 shares of the construction company’s stock valued at $176,613,000 after acquiring an additional 350,729 shares during the period. JPMorgan Chase & Co. lifted its stake in Martin Marietta Materials by 10.1% during the 1st quarter. JPMorgan Chase & Co. now owns 2,944,694 shares of the construction company’s stock valued at $1,407,947,000 after acquiring an additional 268,928 shares during the period. Diamond Hill Capital Management Inc. lifted its stake in Martin Marietta Materials by 39.2% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 659,363 shares of the construction company’s stock valued at $315,261,000 after acquiring an additional 185,731 shares during the period. Vanguard Group Inc. lifted its stake in Martin Marietta Materials by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 7,342,358 shares of the construction company’s stock valued at $3,510,602,000 after acquiring an additional 168,175 shares during the period. Finally, Nuveen LLC acquired a new stake in Martin Marietta Materials during the 1st quarter valued at approximately $73,020,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Performance

NYSE:MLM opened at $621.05 on Friday. 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 has a fifty day moving average of $620.38 and a two-hundred day moving average of $574.26. The stock has a market capitalization of $37.46 billion, a PE ratio of 34.45, a P/E/G ratio of 5.61 and a beta of 1.01. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $665.18.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Thursday, August 7th. The construction company reported $5.43 earnings per share for the quarter, missing analysts’ consensus estimates 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 business’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.76 earnings per share. Martin Marietta Materials has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share 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. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.83 per share. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.79. This represents a $3.32 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Tuesday, September 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 18.41%.

Wall Street Analyst Weigh In

Several brokerages have commented on MLM. Weiss Ratings restated a “buy (b-)” rating on shares of Martin Marietta Materials in a research note on Saturday. Stephens reiterated an “overweight” rating and issued a $700.00 target price on shares of Martin Marietta Materials in a research note on Monday, August 4th. Raymond James Financial boosted their target price on shares of Martin Marietta Materials from $645.00 to $680.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Stifel Nicolaus boosted their target price on shares of Martin Marietta Materials from $609.00 to $637.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. Finally, Bank of America boosted their target price on shares of Martin Marietta Materials from $577.00 to $643.00 and gave the company a “neutral” rating in a research note on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $628.56.

Insiders Place Their Bets

In other Martin Marietta Materials news, Director Laree E. Perez sold 1,038 shares of the company’s 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 transaction, the director directly owned 15,417 shares in the company, valued at approximately $9,455,554.44. This represents a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.69% of the company’s stock.

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.