PDS Planning Inc Acquires 85 Shares of Martin Marietta Materials, Inc. $MLM

PDS Planning Inc raised its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 18.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 537 shares of the construction company’s stock after purchasing an additional 85 shares during the quarter. PDS Planning Inc’s holdings in Martin Marietta Materials were worth $295,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Martin Marietta Materials by 2.3% in the 1st 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. JPMorgan Chase & Co. grew its position in shares of Martin Marietta Materials by 10.1% in the 1st 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 during the period. Principal Financial Group Inc. boosted its position in Martin Marietta Materials by 6.6% during the 1st quarter. Principal Financial Group Inc. now owns 1,940,423 shares of the construction company’s stock worth $927,775,000 after acquiring an additional 120,679 shares during the last quarter. Amundi boosted its position in Martin Marietta Materials by 9.2% during the 1st quarter. Amundi now owns 1,706,416 shares of the construction company’s stock worth $827,345,000 after acquiring an additional 144,270 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. raised its stake in shares of Martin Marietta Materials by 39.2% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 659,363 shares of the construction company’s stock worth $315,261,000 after purchasing an additional 185,731 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on MLM. DA Davidson increased their price objective on Martin Marietta Materials from $625.00 to $700.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. Wells Fargo & Company raised Martin Marietta Materials to a “hold” rating in a report on Wednesday, October 8th. Stephens reissued an “overweight” rating and set a $700.00 target price on shares of Martin Marietta Materials in a report on Monday, August 4th. Bank of America increased their target price on Martin Marietta Materials from $577.00 to $643.00 and gave the stock a “neutral” rating in a report on Tuesday, August 5th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $525.00 target price (up from $515.00) on shares of Martin Marietta Materials in a report on Friday, August 8th. Two 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $621.69.

Martin Marietta Materials Stock Performance

NYSE:MLM opened at $632.22 on Monday. The stock’s 50-day simple moving average is $615.86 and its 200 day simple moving average is $563.88. The firm has a market capitalization of $38.13 billion, a PE 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, Inc. has a twelve month low of $441.95 and a twelve month high of $640.00.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Thursday, August 7th. The construction company reported $5.43 earnings per share for the quarter, missing the consensus estimate of $5.44 by ($0.01). The business 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 quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business earned $4.76 earnings per share. Martin Marietta Materials has set its FY 2025 guidance at EPS. On average, analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd were issued a $0.83 dividend. The ex-dividend date was Tuesday, September 2nd. This is an increase 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 is presently 18.41%.

Insiders Place Their Bets

In other Martin Marietta Materials news, Director Laree E. Perez sold 1,038 shares of Martin Marietta Materials stock in a transaction that occurred 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 approximately $9,455,554.44. The trade was a 6.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.