Huntington National Bank Sells 389 Shares of Martin Marietta Materials, Inc. $MLM

Huntington National Bank trimmed its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 10.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,432 shares of the construction company’s stock after selling 389 shares during the period. Huntington National Bank’s holdings in Martin Marietta Materials were worth $1,884,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wayfinding Financial LLC bought a new position in shares of Martin Marietta Materials during the first quarter valued at about $29,000. Zions Bancorporation National Association UT bought a new position in shares of Martin Marietta Materials during the first quarter valued at about $30,000. Salomon & Ludwin LLC raised its stake in shares of Martin Marietta Materials by 156.7% during the second quarter. Salomon & Ludwin LLC now owns 77 shares of the construction company’s stock valued at $43,000 after acquiring an additional 47 shares during the last quarter. IMA Advisory Services Inc. bought a new position in shares of Martin Marietta Materials during the first quarter valued at about $40,000. Finally, RMG Wealth Management LLC bought a new position in shares of Martin Marietta Materials during the second quarter valued at about $55,000. 95.04% of the stock is owned by institutional investors.

Insider Buying and Selling at Martin Marietta Materials

In other Martin Marietta Materials news, Director Laree E. Perez sold 1,038 shares of the firm’s 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 transaction, the director owned 15,417 shares of the company’s stock, valued at approximately $9,455,554.44. This trade 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 this link. Corporate insiders own 0.69% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MLM shares. Bank of America upped their price objective on shares of Martin Marietta Materials from $577.00 to $643.00 and gave the company a “neutral” rating in a research note on Tuesday, August 5th. Barclays increased their price target on shares of Martin Marietta Materials from $600.00 to $675.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Wells Fargo & Company raised shares of Martin Marietta Materials to a “hold” rating in a research note on Wednesday, October 8th. DA Davidson increased their price target on shares of Martin Marietta Materials from $625.00 to $700.00 and gave the stock a “buy” rating in a research note on Monday, August 11th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $525.00 price target (up from $515.00) on shares of Martin Marietta Materials in a research note on Friday, August 8th. Two research 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $628.56.

Martin Marietta Materials Price Performance

Shares of NYSE MLM opened at $610.61 on Thursday. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $665.18. The company has a 50 day simple moving average of $621.89 and a two-hundred day simple moving average of $581.89. The company has a market capitalization of $36.82 billion, a price-to-earnings ratio of 33.87, a P/E/G ratio of 5.57 and a beta of 1.01. 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 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 business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $2.06 billion. Martin Marietta Materials has set its FY 2025 guidance at EPS. Analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.83 per share. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.79. This represents a $3.32 dividend on an annualized basis 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 18.41%.

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.