Martin Marietta Materials, Inc. $MLM Shares Acquired by Castle Wealth Management LLC

Castle Wealth Management LLC lifted its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 2.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,173 shares of the construction company’s stock after buying an additional 31 shares during the period. Castle Wealth Management LLC’s holdings in Martin Marietta Materials were worth $644,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Wayfinding Financial LLC purchased a new position in shares of Martin Marietta Materials during the 1st quarter worth approximately $29,000. Zions Bancorporation National Association UT purchased a new position in shares of Martin Marietta Materials during the 1st quarter worth approximately $30,000. Chilton Capital Management LLC purchased a new position in shares of Martin Marietta Materials during the 1st quarter worth approximately $30,000. Salomon & Ludwin LLC boosted its position in shares of Martin Marietta Materials by 156.7% during the 2nd quarter. Salomon & Ludwin LLC now owns 77 shares of the construction company’s stock worth $43,000 after purchasing an additional 47 shares during the period. Finally, IMA Advisory Services Inc. purchased a new position in shares of Martin Marietta Materials during the 1st quarter worth approximately $40,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Trading Down 1.6%

NYSE MLM opened at $621.65 on Thursday. 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 firm has a market cap of $37.49 billion, a PE ratio of 34.48, a P/E/G ratio of 5.71 and a beta of 1.01. Martin Marietta Materials, Inc. has a one year low of $441.95 and a one year high of $665.18. The firm’s fifty day moving average is $620.03 and its two-hundred day moving average is $571.14.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Thursday, August 7th. The construction company reported $5.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the firm earned $4.76 earnings per share. The company’s revenue was up 2.7% compared to the same quarter last year. Martin Marietta Materials has set its FY 2025 guidance at EPS. Analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd were issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend was Tuesday, September 2nd. Martin Marietta Materials’s payout ratio is currently 18.41%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MLM shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Martin Marietta Materials in a research report on Wednesday, October 8th. Barclays raised their price target on shares of Martin Marietta Materials from $600.00 to $675.00 and gave the company an “overweight” rating in a research report on Monday. Bank of America raised their price target on shares of Martin Marietta Materials from $577.00 to $643.00 and gave the company a “neutral” rating in a research report on Tuesday, August 5th. Wells Fargo & Company raised shares of Martin Marietta Materials to a “hold” rating in a research report on Wednesday, October 8th. Finally, Stephens reissued an “overweight” rating and issued a $700.00 price target on shares of Martin Marietta Materials in a research report on Monday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $628.56.

Insider Activity

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

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.