Securian Asset Management Inc. Cuts Stock Position in Martin Marietta Materials, Inc. $MLM

Securian Asset Management Inc. lessened its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 3.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,182 shares of the construction company’s stock after selling 106 shares during the quarter. Securian Asset Management Inc.’s holdings in Martin Marietta Materials were worth $1,747,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mather Group LLC. grew its stake in Martin Marietta Materials by 65.5% during the 1st quarter. Mather Group LLC. now owns 278 shares of the construction company’s stock worth $133,000 after purchasing an additional 110 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Martin Marietta Materials by 1.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,007 shares of the construction company’s stock worth $1,457,000 after purchasing an additional 40 shares in the last quarter. Vontobel Holding Ltd. grew its stake in Martin Marietta Materials by 30.5% during the 1st quarter. Vontobel Holding Ltd. now owns 933 shares of the construction company’s stock worth $446,000 after purchasing an additional 218 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake 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 worth $2,467,000 after purchasing an additional 1,505 shares in the last quarter. Finally, Spire Wealth Management grew its stake in Martin Marietta Materials by 64.0% during the 1st quarter. Spire Wealth Management now owns 1,250 shares of the construction company’s stock worth $598,000 after purchasing an additional 488 shares in the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MLM has been the subject of several analyst reports. Wells Fargo & Company raised Martin Marietta Materials to a “hold” rating in a research note on Wednesday, October 8th. Bank of America boosted their target price on Martin Marietta Materials from $577.00 to $643.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 5th. Stifel Nicolaus boosted their target price on Martin Marietta Materials from $609.00 to $637.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. Raymond James Financial upped their price objective on Martin Marietta Materials from $645.00 to $680.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Barclays upped their price objective on Martin Marietta Materials from $600.00 to $675.00 and gave the stock an “overweight” rating in a research report on Monday. Two investment 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. According to data from MarketBeat.com, Martin Marietta Materials presently has an average rating of “Moderate Buy” and an average target price of $628.56.

Martin Marietta Materials Trading Down 1.6%

NYSE:MLM opened at $621.65 on Thursday. The stock has a 50-day simple moving average of $620.03 and a 200-day simple moving average of $571.14. The stock has a market cap of $37.49 billion, a P/E ratio of 34.48, a P/E/G ratio of 5.71 and a beta of 1.01. Martin Marietta Materials, Inc. has a 1 year low of $441.95 and a 1 year high of $665.18. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.21 and a current ratio of 2.35.

Martin Marietta Materials (NYSE:MLM) last announced its 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). The firm 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 firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $4.76 earnings per share. Martin Marietta Materials has set its FY 2025 guidance at EPS. As a group, 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 company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd were given a $0.83 dividend. 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. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. Martin Marietta Materials’s payout ratio is currently 18.41%.

Insider Activity

In related news, Director Laree E. Perez sold 1,038 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $9,455,554.44. This represents a 6.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.69% 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.