Wealth Enhancement Advisory Services LLC Has $3.80 Million Holdings in Martin Marietta Materials, Inc. $MLM

Wealth Enhancement Advisory Services LLC grew its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 32.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,811 shares of the construction company’s stock after buying an additional 1,652 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Martin Marietta Materials were worth $3,800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in MLM. Wayfinding Financial LLC bought a new position in Martin Marietta Materials in the 1st quarter worth approximately $29,000. Chilton Capital Management LLC bought a new stake in shares of Martin Marietta Materials during the first quarter valued at approximately $30,000. Zions Bancorporation National Association UT bought a new stake in shares of Martin Marietta Materials during the first quarter valued at approximately $30,000. IMA Advisory Services Inc. bought a new stake in shares of Martin Marietta Materials during the first quarter valued at approximately $40,000. Finally, Valley National Advisers Inc. increased its position in shares of Martin Marietta Materials by 193.9% during the first quarter. Valley National Advisers Inc. now owns 97 shares of the construction company’s stock valued at $45,000 after purchasing an additional 64 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Martin Marietta Materials

In related news, Director Laree E. Perez sold 1,038 shares of the company’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $613.32, for a total transaction of $636,626.16. Following the sale, the director owned 15,417 shares in the company, valued at $9,455,554.44. This represents a 6.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.69% of the stock is currently owned by insiders.

Martin Marietta Materials Trading Up 0.2%

NYSE MLM opened at $607.98 on Friday. The business’s 50-day moving average price is $604.10 and its two-hundred day moving average price is $551.51. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $633.23. The firm has a market capitalization of $36.67 billion, a PE ratio of 33.72, a price-to-earnings-growth ratio of 5.50 and a beta of 0.94. The company has a current ratio of 2.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.56.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Thursday, August 7th. The construction company reported $5.43 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 during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter last year, the firm posted $4.76 EPS. The company’s quarterly revenue was up 2.7% on a year-over-year basis. Martin Marietta Materials has set its FY 2025 guidance at EPS. On average, analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently announced 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. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Tuesday, September 2nd. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.79. Martin Marietta Materials’s dividend payout ratio is currently 18.41%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MLM. Stephens reiterated an “overweight” rating and issued a $700.00 price target on shares of Martin Marietta Materials in a research report on Monday, August 4th. Royal Bank Of Canada restated a “sector perform” rating and set a $525.00 target price (up previously from $515.00) on shares of Martin Marietta Materials in a report on Friday, August 8th. Bank of America upped their price target on Martin Marietta Materials from $577.00 to $643.00 and gave the company a “neutral” rating in a research note on Tuesday, August 5th. Wall Street Zen raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Morgan Stanley increased their target price on Martin Marietta Materials from $576.00 to $605.00 and gave the company an “overweight” rating in a research note on Monday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $622.63.

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.