Modera Wealth Management LLC Takes Position in Martin Marietta Materials, Inc. $MLM

Modera Wealth Management LLC bought a new position in Martin Marietta Materials, Inc. (NYSE:MLM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 401 shares of the construction company’s stock, valued at approximately $220,000.

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

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock opened at $610.09 on Monday. The stock’s fifty day moving average is $621.68 and its two-hundred day moving average is $584.18. The company has a market capitalization 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 quick ratio of 1.21, a current ratio of 2.35 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a 52 week low of $441.95 and a 52 week high of $665.18.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Tuesday, November 4th. The construction company reported $5.97 earnings per share for the quarter, missing the consensus estimate of $6.62 by ($0.65). The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $2.06 billion. Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%. Martin Marietta Materials has set its FY 2025 guidance at EPS. As a group, analysts expect 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 disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd were given a $0.83 dividend. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $3.32 annualized dividend and a yield of 0.5%. Martin Marietta Materials’s dividend payout ratio is presently 17.50%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. UBS Group increased their target price on Martin Marietta Materials from $705.00 to $723.00 and gave the company a “buy” rating in a research report on Friday. Barclays increased 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. 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 note on Friday, August 8th. Wall Street Zen cut shares of Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a research report on Saturday. Finally, Stifel Nicolaus increased 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. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Martin Marietta Materials has a consensus rating of “Moderate Buy” and a consensus target price 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.