Geode Capital Management LLC Acquires 4,666 Shares of Martin Marietta Materials, Inc. $MLM

Geode Capital Management LLC lifted its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 0.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,520,932 shares of the construction company’s stock after purchasing an additional 4,666 shares during the period. Geode Capital Management LLC owned 2.52% of Martin Marietta Materials worth $831,331,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Tobam bought a new position in shares of Martin Marietta Materials during the 2nd quarter worth approximately $40,000. M&G PLC increased its stake in shares of Martin Marietta Materials by 0.4% in the 2nd quarter. M&G PLC now owns 63,706 shares of the construction company’s stock valued at $34,975,000 after acquiring an additional 277 shares in the last quarter. National Pension Service lifted its position in shares of Martin Marietta Materials by 0.8% during the 2nd quarter. National Pension Service now owns 83,977 shares of the construction company’s stock valued at $46,100,000 after acquiring an additional 679 shares during the period. Verus Capital Partners LLC boosted its stake in Martin Marietta Materials by 8.2% during the second quarter. Verus Capital Partners LLC now owns 530 shares of the construction company’s stock worth $291,000 after acquiring an additional 40 shares in the last quarter. Finally, CENTRAL TRUST Co grew its holdings in Martin Marietta Materials by 11.8% in the second quarter. CENTRAL TRUST Co now owns 218 shares of the construction company’s stock worth $120,000 after purchasing an additional 23 shares during the period. 95.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. DA Davidson set a $690.00 price objective on shares of Martin Marietta Materials in a report on Thursday, November 6th. Bank of America boosted their target price on Martin Marietta Materials from $577.00 to $643.00 and gave the company a “neutral” rating in a research report on Tuesday, August 5th. Morgan Stanley increased their price target on Martin Marietta Materials from $576.00 to $605.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. 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 report on Friday, November 7th. Finally, Raymond James Financial upped their target price on Martin Marietta Materials from $645.00 to $680.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. 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. According to MarketBeat, Martin Marietta Materials presently has an average rating of “Moderate Buy” and an average price target of $644.38.

Martin Marietta Materials Stock Performance

Shares of MLM opened at $601.90 on Friday. The firm has a market capitalization of $36.30 billion, a P/E ratio of 33.38, a P/E/G ratio of 5.57 and a beta of 1.06. Martin Marietta Materials, Inc. has a 52 week low of $441.95 and a 52 week high of $665.18. The stock has a 50 day moving average price of $621.55 and a two-hundred day moving average price of $586.06. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.21 and a current ratio of 2.35.

Martin Marietta Materials (NYSE:MLM) last announced 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). 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 for the quarter, compared to analysts’ expectations of $2.06 billion. Martin Marietta Materials has set its FY 2025 guidance at EPS. Equities analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 1st will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, December 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 17.50%.

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.