King Luther Capital Management Corp Trims Stock Position in Martin Marietta Materials, Inc. $MLM

King Luther Capital Management Corp cut its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 2.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 690,904 shares of the construction company’s stock after selling 19,349 shares during the quarter. Martin Marietta Materials comprises 1.6% of King Luther Capital Management Corp’s portfolio, making the stock its 13th biggest position. King Luther Capital Management Corp owned about 1.15% of Martin Marietta Materials worth $379,279,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brown Advisory Inc. grew its holdings in Martin Marietta Materials by 23.4% during the 1st quarter. Brown Advisory Inc. now owns 6,592 shares of the construction company’s stock worth $3,152,000 after acquiring an additional 1,252 shares in the last quarter. Moloney Securities Asset Management LLC acquired a new position in shares of Martin Marietta Materials in the 1st quarter valued at about $272,000. Nisa Investment Advisors LLC lifted its holdings in Martin Marietta Materials by 5.0% in the first quarter. Nisa Investment Advisors LLC now owns 9,126 shares of the construction company’s stock worth $4,363,000 after acquiring an additional 435 shares during the last quarter. Xponance Inc. lifted its holdings in Martin Marietta Materials by 2.2% in the first quarter. Xponance Inc. now owns 8,772 shares of the construction company’s stock worth $4,194,000 after acquiring an additional 186 shares during the last quarter. Finally, B & T Capital Management DBA Alpha Capital Management boosted its stake in Martin Marietta Materials by 1.0% in the first quarter. B & T Capital Management DBA Alpha Capital Management now owns 5,805 shares of the construction company’s stock valued at $2,775,000 after acquiring an additional 55 shares during the period. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials Trading Up 0.3%

Shares of MLM stock opened at $610.09 on Friday. Martin Marietta Materials, Inc. has a 12-month low of $441.95 and a 12-month high of $665.18. The company has a market capitalization of $36.79 billion, a P/E ratio of 33.84, a P/E/G ratio of 5.57 and a beta of 1.06. The company has a quick ratio of 1.21, a current ratio of 2.35 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average price of $621.68 and a 200 day moving average price of $583.58.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Tuesday, November 4th. The construction company reported $5.97 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $2.06 billion. Martin Marietta Materials has set its FY 2025 guidance at EPS. 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd were paid a $0.83 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. 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%. Martin Marietta Materials’s payout ratio is 17.50%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MLM shares. UBS Group boosted their price objective on Martin Marietta Materials from $705.00 to $723.00 and gave the company a “buy” rating in a research report on Friday. Bank of America raised their price objective 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. Wall Street Zen lowered Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a research note on Saturday. Barclays lifted their price target on 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, Wells Fargo & Company cut their price objective on Martin Marietta Materials from $620.00 to $610.00 and set an “equal weight” rating for the company in a report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Martin Marietta Materials has an average rating of “Moderate Buy” and a consensus price target of $632.88.

About Martin Marietta Materials

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.