Martin Marietta Materials, Inc. $MLM Shares Sold by Spire Wealth Management

Spire Wealth Management reduced its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 31.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 854 shares of the construction company’s stock after selling 396 shares during the period. Spire Wealth Management’s holdings in Martin Marietta Materials were worth $469,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wayfinding Financial LLC acquired a new stake in shares of Martin Marietta Materials during the first quarter worth $29,000. Zions Bancorporation National Association UT acquired a new stake in shares of Martin Marietta Materials during the first quarter worth $30,000. Chilton Capital Management LLC acquired a new stake in shares of Martin Marietta Materials during the first quarter worth $30,000. Salomon & Ludwin LLC raised its holdings in shares of Martin Marietta Materials by 156.7% during the second quarter. Salomon & Ludwin LLC now owns 77 shares of the construction company’s stock worth $43,000 after purchasing an additional 47 shares during the last quarter. Finally, IMA Advisory Services Inc. purchased a new position in shares of Martin Marietta Materials during the first quarter worth $40,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on MLM shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Martin Marietta Materials in a report on Wednesday, October 8th. Wall Street Zen raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Stifel Nicolaus upped 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. Raymond James Financial upped their price target on shares of Martin Marietta Materials from $645.00 to $680.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Finally, Morgan Stanley upped their price target on shares of Martin Marietta Materials from $576.00 to $605.00 and gave the company an “overweight” rating in a report on Monday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $628.56.

Martin Marietta Materials Stock Up 0.2%

MLM opened at $614.13 on Monday. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two 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 has a fifty day moving average of $621.58 and a two-hundred day moving average of $579.89. The stock has a market capitalization of $37.04 billion, a price-to-earnings ratio of 34.06, a PEG ratio of 5.57 and a beta of 1.01.

Martin Marietta Materials (NYSE:MLM) last released 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). 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 analysts’ expectations of $1.88 billion. During the same period in the previous year, the firm posted $4.76 EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. Martin Marietta Materials has set its FY 2025 guidance at EPS. On average, research analysts expect 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 disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd were issued a $0.83 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a positive change 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%. Martin Marietta Materials’s dividend payout ratio is presently 18.41%.

Insiders Place Their Bets

In other Martin Marietta Materials 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 value of $636,626.16. Following the completion of the transaction, the director 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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.