Robertson Stephens Wealth Management LLC Has $328,000 Stock Position in Martin Marietta Materials, Inc. $MLM

Robertson Stephens Wealth Management LLC reduced its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 16.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 597 shares of the construction company’s stock after selling 120 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Martin Marietta Materials were worth $328,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MLM. American Century Companies Inc. raised its position in Martin Marietta Materials by 1,880.3% during the first quarter. American Century Companies Inc. now owns 369,382 shares of the construction company’s stock valued at $176,613,000 after purchasing an additional 350,729 shares in the last quarter. JPMorgan Chase & Co. raised its position in Martin Marietta Materials by 10.1% during the first quarter. JPMorgan Chase & Co. now owns 2,944,694 shares of the construction company’s stock valued at $1,407,947,000 after purchasing an additional 268,928 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position 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 purchasing an additional 185,731 shares in the last quarter. Vanguard Group Inc. raised its position in Martin Marietta Materials by 2.3% during the first quarter. Vanguard Group Inc. now owns 7,342,358 shares of the construction company’s stock valued at $3,510,602,000 after purchasing an additional 168,175 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Martin Marietta Materials during the first quarter valued at approximately $73,020,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Performance

NYSE MLM opened at $632.22 on Friday. The company has a market capitalization of $38.13 billion, a price-to-earnings ratio of 35.06, a PEG ratio of 5.73 and a beta of 1.01. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $640.00. The stock has a fifty day simple moving average of $615.86 and a 200 day simple moving average of $563.34. 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 (NYSE:MLM) last posted its quarterly earnings data on Thursday, August 7th. The construction company reported $5.43 earnings per share for the quarter, missing analysts’ consensus estimates of $5.44 by ($0.01). The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.88 billion. Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.76 earnings per share. Martin Marietta Materials has set its FY 2025 guidance at EPS. Sell-side analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd were issued a $0.83 dividend. The ex-dividend date was Tuesday, September 2nd. This is a positive change 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 dividend payout ratio (DPR) is currently 18.41%.

Analysts Set New Price Targets

Several brokerages have commented on MLM. Stifel Nicolaus boosted their price objective on shares of Martin Marietta Materials from $609.00 to $637.00 and gave the company a “buy” rating in a research report on Tuesday, August 12th. Bank of America upped their price target on shares of Martin Marietta Materials from $577.00 to $643.00 and gave the stock a “neutral” rating in a report on Tuesday, August 5th. DA Davidson upped their price target on shares of Martin Marietta Materials from $625.00 to $700.00 and gave the stock a “buy” rating in a report on Monday, August 11th. Raymond James Financial upped their price target on shares of Martin Marietta Materials from $600.00 to $645.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Finally, Morgan Stanley upped their price target on shares of Martin Marietta Materials from $576.00 to $605.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. Two 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $621.69.

Insiders Place Their Bets

In related news, Director Laree E. Perez sold 1,038 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $613.32, for a total value of $636,626.16. Following the completion of the sale, the director directly owned 15,417 shares in the company, valued at $9,455,554.44. This represents a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.69% of the stock is owned by insiders.

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.