Martin Marietta Materials, Inc. $MLM Holdings Trimmed by Griffin Asset Management Inc.

Griffin Asset Management Inc. trimmed its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 0.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,196 shares of the construction company’s stock after selling 20 shares during the period. Griffin Asset Management Inc.’s holdings in Martin Marietta Materials were worth $1,206,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MLM. Farther Finance Advisors LLC grew its position in Martin Marietta Materials by 34.7% during the 1st quarter. Farther Finance Advisors LLC now owns 423 shares of the construction company’s stock worth $205,000 after purchasing an additional 109 shares in the last quarter. GAMMA Investing LLC increased its stake in Martin Marietta Materials by 22.7% in the 1st quarter. GAMMA Investing LLC now owns 1,459 shares of the construction company’s stock valued at $698,000 after buying an additional 270 shares during the period. CX Institutional increased its stake in Martin Marietta Materials by 8.3% in the 1st quarter. CX Institutional now owns 470 shares of the construction company’s stock valued at $225,000 after buying an additional 36 shares during the period. Fifth Third Bancorp increased its stake in Martin Marietta Materials by 5.0% in the 1st quarter. Fifth Third Bancorp now owns 7,357 shares of the construction company’s stock valued at $3,518,000 after buying an additional 352 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Martin Marietta Materials by 41.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,159 shares of the construction company’s stock valued at $2,467,000 after buying an additional 1,505 shares during the period. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Performance

Shares of MLM opened at $632.22 on Monday. The company’s fifty day moving average is $615.86 and its 200-day moving average is $563.88. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $640.00. The firm has a market cap of $38.13 billion, a price-to-earnings ratio of 35.06, a price-to-earnings-growth ratio of 5.73 and a beta of 1.01. 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 announced its quarterly earnings results on Thursday, August 7th. The construction company reported $5.43 EPS for the quarter, missing the consensus estimate of $5.44 by ($0.01). Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%.The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the company earned $4.76 EPS. The business’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 analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The company also recently disclosed 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. 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%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.79. Martin Marietta Materials’s payout ratio is currently 18.41%.

Analysts Set New Price Targets

MLM has been the topic of several research reports. Stephens reiterated an “overweight” rating and issued a $700.00 price objective on shares of Martin Marietta Materials in a research note on Monday, August 4th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Martin Marietta Materials in a research note on Wednesday, October 8th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $525.00 price objective (up previously from $515.00) on shares of Martin Marietta Materials in a research note on Friday, August 8th. Raymond James Financial upped their price objective on shares of Martin Marietta Materials from $600.00 to $645.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Finally, Bank of America upped their price objective on shares of Martin Marietta Materials from $577.00 to $643.00 and gave the company a “neutral” rating in a research note on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and an average target price of $621.69.

Insider Activity

In related news, Director Laree E. Perez sold 1,038 shares of the company’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $613.32, for a total transaction of $636,626.16. Following the completion of the sale, the director directly owned 15,417 shares of the company’s stock, valued at approximately $9,455,554.44. This represents a 6.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.68% of the company’s stock.

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.