Concord Wealth Partners Acquires 68 Shares of Martin Marietta Materials, Inc. $MLM

Concord Wealth Partners increased its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 68.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 168 shares of the construction company’s stock after acquiring an additional 68 shares during the period. Concord Wealth Partners’ holdings in Martin Marietta Materials were worth $92,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wayfinding Financial LLC bought a new stake in shares of Martin Marietta Materials during the 1st quarter worth approximately $29,000. Chilton Capital Management LLC bought a new stake in shares of Martin Marietta Materials during the 1st quarter worth approximately $30,000. Zions Bancorporation National Association UT bought a new stake in shares of Martin Marietta Materials during the 1st quarter worth approximately $30,000. IMA Advisory Services Inc. bought a new stake in shares of Martin Marietta Materials during the 1st quarter worth approximately $40,000. Finally, Valley National Advisers Inc. lifted its stake in shares of Martin Marietta Materials by 193.9% during the 1st quarter. Valley National Advisers Inc. now owns 97 shares of the construction company’s stock worth $45,000 after acquiring an additional 64 shares during the last quarter. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Trading Up 1.2%

MLM opened at $640.05 on Tuesday. The firm has a market cap of $38.60 billion, a price-to-earnings ratio of 35.50, a PEG ratio of 5.73 and a beta of 1.01. 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, Inc. has a 12 month low of $441.95 and a 12 month high of $643.87. The stock has a fifty day moving average price of $616.62 and a 200-day moving average price of $565.02.

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 the consensus estimate of $5.44 by ($0.01). The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.88 billion. Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%.The company’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $4.76 earnings per share. Martin Marietta Materials has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share 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. Investors of record on Tuesday, September 2nd were paid a dividend of $0.83 per share. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.79. The ex-dividend date was Tuesday, September 2nd. This represents a $3.32 annualized dividend and a yield of 0.5%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 18.41%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Morgan Stanley raised their price target on Martin Marietta Materials from $576.00 to $605.00 and gave the stock an “overweight” rating in a research note on Monday, July 28th. Wall Street Zen raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $525.00 target price (up from $515.00) on shares of Martin Marietta Materials in a research report on Friday, August 8th. Stephens reaffirmed an “overweight” rating and set a $700.00 target price on shares of Martin Marietta Materials in a research report on Monday, August 4th. Finally, Raymond James Financial lifted their target price on Martin Marietta Materials from $600.00 to $645.00 and gave the company an “outperform” rating in a research 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 assigned a Hold rating to the company. According to data from MarketBeat.com, Martin Marietta Materials currently has a consensus 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 business’s stock in a transaction 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 transaction, the director directly owned 15,417 shares in the company, valued at $9,455,554.44. The trade was a 6.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.68% of the stock is currently owned by company insiders.

Martin Marietta Materials 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.