Brookstone Capital Management Decreases Holdings in Martin Marietta Materials, Inc. $MLM

Brookstone Capital Management trimmed its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 4.0% in the second quarter, Holdings Channel reports. The firm owned 641 shares of the construction company’s stock after selling 27 shares during the period. Brookstone Capital Management’s holdings in Martin Marietta Materials were worth $352,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in MLM. GAMMA Investing LLC boosted its position in Martin Marietta Materials by 22.7% during the 1st quarter. GAMMA Investing LLC now owns 1,459 shares of the construction company’s stock worth $698,000 after purchasing an additional 270 shares during the period. Golden State Wealth Management LLC boosted its position in Martin Marietta Materials by 160.5% in the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the construction company’s stock valued at $47,000 after buying an additional 61 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position 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 buying an additional 40 shares during the last quarter. Amalgamated Bank boosted its position in Martin Marietta Materials by 1.3% in the 1st quarter. Amalgamated Bank now owns 12,204 shares of the construction company’s stock valued at $5,835,000 after buying an additional 154 shares during the last quarter. Finally, Ameritas Advisory Services LLC boosted its position in Martin Marietta Materials by 7.4% in the 1st quarter. Ameritas Advisory Services LLC now owns 682 shares of the construction company’s stock valued at $344,000 after buying an additional 47 shares during the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Down 0.8%

Shares of Martin Marietta Materials stock opened at $616.43 on Tuesday. The company has a current ratio of 2.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.56. The business’s 50 day simple moving average is $620.65 and its 200-day simple moving average is $575.84. The stock has a market capitalization of $37.18 billion, a price-to-earnings ratio of 34.19, a PEG ratio of 5.61 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.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results 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 firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.76 earnings per share. Martin Marietta Materials has set its FY 2025 guidance at EPS. Equities research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd were given 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 was Tuesday, September 2nd. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.79. Martin Marietta Materials’s payout ratio is currently 18.41%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MLM shares. Wells Fargo & Company raised shares of Martin Marietta Materials to a “hold” rating in a research report on Wednesday, October 8th. Raymond James Financial upped their price objective on shares of Martin Marietta Materials from $645.00 to $680.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Morgan Stanley upped their price objective on shares of Martin Marietta Materials from $576.00 to $605.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Barclays upped their price objective on shares of Martin Marietta Materials from $600.00 to $675.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $525.00 price objective (up from $515.00) on shares of Martin Marietta Materials in a research report on Friday, August 8th. Two investment 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $628.56.

Insider Buying and Selling at Martin Marietta Materials

In other news, Director Laree E. Perez sold 1,038 shares of the 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 sale, 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 position. The sale was disclosed in a document filed 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 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.