iA Global Asset Management Inc. Cuts Stock Holdings in Martin Marietta Materials, Inc. $MLM

iA Global Asset Management Inc. trimmed its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 35.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 620 shares of the construction company’s stock after selling 340 shares during the period. iA Global Asset Management Inc.’s holdings in Martin Marietta Materials were worth $340,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. grew its stake in shares of Martin Marietta Materials by 1,880.3% in the 1st quarter. American Century Companies Inc. now owns 369,382 shares of the construction company’s stock worth $176,613,000 after buying an additional 350,729 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Martin Marietta Materials by 10.1% in the 1st quarter. JPMorgan Chase & Co. now owns 2,944,694 shares of the construction company’s stock worth $1,407,947,000 after buying an additional 268,928 shares in the last quarter. Diamond Hill Capital Management Inc. grew its position in Martin Marietta Materials by 39.2% in the first quarter. Diamond Hill Capital Management Inc. now owns 659,363 shares of the construction company’s stock worth $315,261,000 after acquiring an additional 185,731 shares in the last quarter. Vanguard Group Inc. grew its position in Martin Marietta Materials by 2.3% in the first quarter. Vanguard Group Inc. now owns 7,342,358 shares of the construction company’s stock worth $3,510,602,000 after acquiring an additional 168,175 shares in the last quarter. Finally, Nuveen LLC purchased a new position in Martin Marietta Materials in the first quarter worth about $73,020,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Price Performance

MLM stock opened at $624.87 on Wednesday. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $665.18. The company has a current ratio of 2.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.56. The company has a 50-day moving average price of $622.02 and a 200 day moving average price of $581.69. The stock has a market cap of $37.68 billion, a PE ratio of 34.66, a P/E/G ratio of 5.57 and a beta of 1.01.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Tuesday, November 4th. The construction company reported $5.97 EPS for the quarter, missing analysts’ consensus estimates of $6.62 by ($0.65). Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%.The firm had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Martin Marietta Materials has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

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

Insider Buying and Selling at Martin Marietta Materials

In other news, Director Laree E. Perez sold 1,038 shares of Martin Marietta Materials stock in a transaction that occurred on 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 sale, the director owned 15,417 shares of the company’s stock, valued at approximately $9,455,554.44. The trade was a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $525.00 price target (up previously from $515.00) on shares of Martin Marietta Materials in a research report on Friday, August 8th. Stifel Nicolaus lifted their price target on Martin Marietta Materials from $609.00 to $637.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Martin Marietta Materials in a research report on Wednesday, October 8th. DA Davidson lifted their price target on Martin Marietta Materials from $625.00 to $700.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. Finally, Bank of America lifted their price target on shares of Martin Marietta Materials from $577.00 to $643.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $628.56.

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.