Cigna Investments Inc. New Decreases Position in Martin Marietta Materials, Inc. $MLM

Cigna Investments Inc. New decreased its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 3.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 582 shares of the construction company’s stock after selling 23 shares during the quarter. Cigna Investments Inc. New’s holdings in Martin Marietta Materials were worth $320,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Fifth Third Bancorp boosted its position in shares of Martin Marietta Materials by 9.9% in the second quarter. Fifth Third Bancorp now owns 8,088 shares of the construction company’s stock worth $4,440,000 after buying an additional 731 shares during the period. Covea Finance lifted its stake in shares of Martin Marietta Materials by 13.9% in the second quarter. Covea Finance now owns 22,874 shares of the construction company’s stock worth $12,557,000 after acquiring an additional 2,784 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Martin Marietta Materials by 18.2% in the second quarter. GAMMA Investing LLC now owns 1,724 shares of the construction company’s stock worth $946,000 after acquiring an additional 265 shares in the last quarter. U.S. Capital Wealth Advisors LLC acquired a new position in shares of Martin Marietta Materials in the second quarter worth about $683,000. Finally, Tran Capital Management L.P. lifted its stake in shares of Martin Marietta Materials by 4.8% in the second quarter. Tran Capital Management L.P. now owns 58,309 shares of the construction company’s stock worth $32,009,000 after acquiring an additional 2,693 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Insider Transactions at Martin Marietta Materials

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

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $525.00 price target (up previously from $515.00) on shares of Martin Marietta Materials in a research note on Friday, August 8th. DA Davidson boosted their price target on Martin Marietta Materials from $625.00 to $700.00 and gave the stock a “buy” rating in a research note on Monday, August 11th. Stifel Nicolaus boosted their price target on Martin Marietta Materials from $609.00 to $637.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. Raymond James Financial boosted their price target on Martin Marietta Materials from $600.00 to $645.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Finally, 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. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Martin Marietta Materials has a consensus rating of “Moderate Buy” and an average target price of $622.63.

Martin Marietta Materials Stock Up 0.2%

Shares of Martin Marietta Materials stock opened at $607.98 on Friday. The stock has a market capitalization of $36.67 billion, a price-to-earnings ratio of 33.72, a PEG ratio of 5.50 and a beta of 0.94. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $633.23. The company has a current ratio of 2.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.56. The business’s 50 day simple moving average is $604.10 and its 200-day simple moving average is $551.51.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Thursday, August 7th. The construction company reported $5.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.44 by ($0.01). Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the prior year, the firm earned $4.76 EPS. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. Martin Marietta Materials has set its FY 2025 guidance at EPS. Equities research analysts forecast 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 will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.83 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $3.32 dividend on an annualized basis and a yield of 0.5%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.79. Martin Marietta Materials’s payout ratio is presently 18.41%.

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.