Bank of New York Mellon Corp Lowers Holdings in Martin Marietta Materials, Inc. $MLM

Bank of New York Mellon Corp decreased its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 4.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 394,359 shares of the construction company’s stock after selling 18,128 shares during the quarter. Bank of New York Mellon Corp owned 0.65% of Martin Marietta Materials worth $216,487,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in MLM. Atika Capital Management LLC raised its holdings in Martin Marietta Materials by 18.1% during the first quarter. Atika Capital Management LLC now owns 55,633 shares of the construction company’s stock worth $26,600,000 after purchasing an additional 8,533 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Martin Marietta Materials by 0.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 9,576 shares of the construction company’s stock valued at $5,257,000 after acquiring an additional 33 shares during the period. Fenimore Asset Management Inc increased its holdings in shares of Martin Marietta Materials by 6.0% in the 2nd quarter. Fenimore Asset Management Inc now owns 88,850 shares of the construction company’s stock valued at $48,775,000 after acquiring an additional 5,010 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Martin Marietta Materials by 16.5% in the 2nd quarter. Farther Finance Advisors LLC now owns 493 shares of the construction company’s stock valued at $270,000 after acquiring an additional 70 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Martin Marietta Materials in the 1st quarter valued at $216,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analyst Upgrades and Downgrades

MLM has been the topic of a number of recent research reports. Raymond James Financial lifted their target price on shares of Martin Marietta Materials from $645.00 to $680.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Martin Marietta Materials in a report on Wednesday, October 8th. DA Davidson lifted their target price on shares of Martin Marietta Materials from $625.00 to $700.00 and gave the company a “buy” rating in a report on Monday, August 11th. Stifel Nicolaus lifted their target price on shares of Martin Marietta Materials from $609.00 to $637.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. Finally, Barclays lifted their target price on shares of Martin Marietta Materials from $600.00 to $675.00 and gave the company an “overweight” rating in a report on Monday, October 20th. 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $628.56.

Insider Activity at Martin Marietta Materials

In other Martin Marietta Materials news, Director Laree E. Perez sold 1,038 shares of the business’s stock in a transaction 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 sale, the director directly owned 15,417 shares in the company, valued at approximately $9,455,554.44. The trade was a 6.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.69% of the company’s stock.

Martin Marietta Materials Stock Performance

NYSE:MLM opened at $610.61 on Thursday. The firm’s fifty day moving average price is $621.89 and its 200 day moving average price is $581.89. 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 current ratio of 2.35 and a quick ratio of 1.21. The firm has a market cap of $36.82 billion, a price-to-earnings ratio of 33.87, a price-to-earnings-growth ratio of 5.57 and a beta of 1.01.

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

Martin Marietta Materials Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend 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 payout ratio is presently 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.