Martin Marietta Materials, Inc. $MLM Shares Bought by True Wealth Design LLC

True Wealth Design LLC raised its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 70.6% during the 2nd quarter, Holdings Channel reports. The fund owned 307 shares of the construction company’s stock after purchasing an additional 127 shares during the period. True Wealth Design LLC’s holdings in Martin Marietta Materials were worth $169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Marco Investment Management LLC purchased a new position in Martin Marietta Materials during the second quarter valued at approximately $220,000. Aspect Partners LLC boosted its position in Martin Marietta Materials by 540.0% during the second quarter. Aspect Partners LLC now owns 64 shares of the construction company’s stock valued at $35,000 after purchasing an additional 54 shares during the last quarter. Bryn Mawr Trust Advisors LLC grew its stake in Martin Marietta Materials by 2.6% in the second quarter. Bryn Mawr Trust Advisors LLC now owns 3,261 shares of the construction company’s stock valued at $1,790,000 after purchasing an additional 84 shares in the last quarter. Savant Capital LLC increased its position in Martin Marietta Materials by 459.4% in the 2nd quarter. Savant Capital LLC now owns 8,715 shares of the construction company’s stock worth $4,784,000 after purchasing an additional 7,157 shares during the last quarter. Finally, O Brien Greene & Co. Inc raised its stake in shares of Martin Marietta Materials by 8.7% during the 2nd quarter. O Brien Greene & Co. Inc now owns 1,264 shares of the construction company’s stock worth $694,000 after purchasing an additional 101 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Stock Performance

Shares of NYSE:MLM opened at $610.09 on Friday. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $665.18. The firm has a market cap of $36.79 billion, a PE ratio of 33.84, a price-to-earnings-growth ratio of 5.57 and a beta of 1.06. 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 business has a fifty day moving average of $621.68 and a 200-day moving average of $582.94.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Tuesday, November 4th. The construction company reported $5.97 earnings per share for the quarter, missing analysts’ consensus estimates of $6.62 by ($0.65). Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $2.06 billion. Martin Marietta Materials has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm 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 is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.79. 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. Martin Marietta Materials’s payout ratio is 17.50%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on MLM shares. Raymond James Financial lifted 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. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Martin Marietta Materials in a research note on Wednesday, October 8th. Morgan Stanley increased their target price on shares of Martin Marietta Materials from $576.00 to $605.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. Bank of America raised their target price on Martin Marietta Materials from $577.00 to $643.00 and gave the company a “neutral” rating in a report on Tuesday, August 5th. Finally, Wells Fargo & Company decreased their price target on Martin Marietta Materials from $620.00 to $610.00 and set an “equal weight” rating for the company in a research note on Thursday. Two equities 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $632.88.

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.