Sagespring Wealth Partners LLC Grows Stake in Martin Marietta Materials, Inc. $MLM

Sagespring Wealth Partners LLC increased its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 40.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 884 shares of the construction company’s stock after purchasing an additional 255 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Martin Marietta Materials were worth $485,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Farther Finance Advisors LLC grew its holdings 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 valued at $205,000 after buying an additional 109 shares in the last quarter. GAMMA Investing LLC grew its holdings in Martin Marietta Materials by 22.7% during 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 in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Martin Marietta Materials by 41.2% during 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 in the last quarter. Ritholtz Wealth Management grew its holdings in Martin Marietta Materials by 28.4% during the 1st quarter. Ritholtz Wealth Management now owns 1,112 shares of the construction company’s stock valued at $532,000 after buying an additional 246 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its holdings in Martin Marietta Materials by 23.0% during the 1st quarter. Exchange Traded Concepts LLC now owns 454 shares of the construction company’s stock valued at $217,000 after buying an additional 85 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 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.69% of the stock is currently owned by insiders.

Martin Marietta Materials Price Performance

Shares of Martin Marietta Materials stock opened at $624.07 on Friday. The stock has a market cap of $37.64 billion, a price-to-earnings ratio of 34.61, a price-to-earnings-growth ratio of 5.79 and a beta of 1.01. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.21 and a current ratio of 2.35. The stock has a 50 day moving average price of $618.87 and a 200-day moving average price of $567.17. Martin Marietta Materials, Inc. has a one year low of $441.95 and a one year high of $665.18.

Martin Marietta Materials (NYSE:MLM) last announced its 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). The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%.Martin Marietta Materials’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $4.76 EPS. 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 year.

Martin Marietta Materials Increases Dividend

The firm 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. This represents a $3.32 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Tuesday, September 2nd. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.79. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 18.41%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MLM. Weiss Ratings restated a “buy (b-)” rating on shares of Martin Marietta Materials in a report on Wednesday, October 8th. Morgan Stanley raised their price target on Martin Marietta Materials from $576.00 to $605.00 and gave the company an “overweight” rating in a report on Monday, July 28th. Wall Street Zen upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Raymond James Financial raised their price target on Martin Marietta Materials from $600.00 to $645.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Finally, Stephens reiterated an “overweight” rating and issued a $700.00 target price on shares of Martin Marietta Materials in a report on Monday, August 4th. Two research 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, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and an average price target of $621.69.

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.