M&G PLC Buys 277 Shares of Martin Marietta Materials, Inc. $MLM

M&G PLC boosted its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 0.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,706 shares of the construction company’s stock after acquiring an additional 277 shares during the quarter. M&G PLC owned 0.11% of Martin Marietta Materials worth $34,975,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT acquired a new stake in shares of Martin Marietta Materials in the 1st quarter valued at about $30,000. NewSquare Capital LLC raised its position in Martin Marietta Materials by 62.2% in the 2nd quarter. NewSquare Capital LLC now owns 60 shares of the construction company’s stock valued at $33,000 after buying an additional 23 shares during the last quarter. Aspect Partners LLC lifted its stake in Martin Marietta Materials by 540.0% in the 2nd quarter. Aspect Partners LLC now owns 64 shares of the construction company’s stock valued at $35,000 after acquiring an additional 54 shares in the last quarter. IMA Advisory Services Inc. bought a new stake in Martin Marietta Materials in the 1st quarter valued at approximately $40,000. Finally, Salomon & Ludwin LLC boosted its position in Martin Marietta Materials by 156.7% during the 2nd quarter. Salomon & Ludwin LLC now owns 77 shares of the construction company’s stock worth $43,000 after acquiring an additional 47 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on MLM shares. Stephens reiterated an “overweight” rating and issued a $700.00 price target on shares of Martin Marietta Materials in a research note on Monday, August 4th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Martin Marietta Materials in a research report on Wednesday, October 8th. Bank of America increased their target price on Martin Marietta Materials from $577.00 to $643.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 5th. Barclays lifted their price target on Martin Marietta Materials from $600.00 to $675.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $525.00 price objective (up from $515.00) on shares of Martin Marietta Materials in a report on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Martin Marietta Materials presently has an average rating of “Moderate Buy” and a consensus price target of $644.38.

Martin Marietta Materials Price Performance

Martin Marietta Materials stock opened at $620.68 on Wednesday. The firm has a market cap of $37.43 billion, a PE ratio of 34.42, 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 current ratio of 2.35 and a quick ratio of 1.21. The stock’s fifty day moving average price is $621.80 and its two-hundred day moving average price is $585.75. Martin Marietta Materials, Inc. has a one year low of $441.95 and a one year 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 (EPS) for the quarter, missing the consensus estimate of $6.62 by ($0.65). The company had revenue of $1.85 billion for the quarter, compared to analyst estimates 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, research analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd were issued a dividend of $0.83 per share. This is a boost 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 dividend yield of 0.5%. Martin Marietta Materials’s payout ratio is presently 17.50%.

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.