Assetmark Inc. Acquires 3,929 Shares of Martin Marietta Materials, Inc. $MLM

Assetmark Inc. grew its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 17.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,893 shares of the construction company’s stock after acquiring an additional 3,929 shares during the period. Assetmark Inc.’s holdings in Martin Marietta Materials were worth $14,214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of MLM. Allspring Global Investments Holdings LLC grew its position in shares of 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 valued at $1,457,000 after acquiring an additional 40 shares during the period. Ameritas Advisory Services LLC grew its position in shares of Martin Marietta Materials by 7.4% during the 1st quarter. Ameritas Advisory Services LLC now owns 682 shares of the construction company’s stock valued at $344,000 after acquiring an additional 47 shares during the period. Mather Group LLC. grew its position in shares of Martin Marietta Materials by 65.5% during the 1st quarter. Mather Group LLC. now owns 278 shares of the construction company’s stock valued at $133,000 after acquiring an additional 110 shares during the period. Vontobel Holding Ltd. grew its position in shares of Martin Marietta Materials by 30.5% during the 1st quarter. Vontobel Holding Ltd. now owns 933 shares of the construction company’s stock valued at $446,000 after acquiring an additional 218 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Martin Marietta Materials by 2.1% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,903 shares of the construction company’s stock valued at $3,301,000 after acquiring an additional 144 shares during the period. Institutional investors own 95.04% of the company’s stock.

Insider Activity at Martin Marietta Materials

In other Martin Marietta Materials news, Director Laree E. Perez sold 1,038 shares of the stock in a transaction dated Friday, August 8th. The shares were 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 of the company’s stock, valued at $9,455,554.44. This represents a 6.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.69% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

MLM has been the subject of several recent analyst reports. Barclays upped their target price on shares of Martin Marietta Materials from $600.00 to $675.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Bank of America upped their target price on shares of Martin Marietta Materials from $577.00 to $643.00 and gave the stock a “neutral” rating in a report on Tuesday, August 5th. Stifel Nicolaus upped their target price on shares of Martin Marietta Materials from $609.00 to $637.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. Stephens reaffirmed an “overweight” rating and issued a $700.00 target price on shares of Martin Marietta Materials in a report on Monday, August 4th. Finally, Morgan Stanley upped their target price on shares of Martin Marietta Materials from $576.00 to $605.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $628.56.

Martin Marietta Materials Stock Up 0.2%

MLM opened at $614.13 on Friday. The firm has a 50-day simple moving average of $621.58 and a two-hundred day simple moving average of $578.72. Martin Marietta Materials, Inc. has a 52 week low of $441.95 and a 52 week high of $665.18. The company has a market capitalization of $37.04 billion, a PE ratio of 34.06, a price-to-earnings-growth ratio of 5.57 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 (NYSE:MLM) last released its quarterly earnings data on Thursday, August 7th. The construction company reported $5.43 EPS for the quarter, missing the consensus estimate of $5.44 by ($0.01). Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period last year, the company earned $4.76 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. Martin Marietta Materials has set its FY 2025 guidance at EPS. Analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.83 per share. 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 annualized dividend and a dividend yield of 0.5%. Martin Marietta Materials’s payout ratio is currently 18.41%.

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.