Modera Wealth Management LLC Buys Shares of 401 Martin Marietta Materials, Inc. $MLM

Modera Wealth Management LLC bought a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 401 shares of the construction company’s stock, valued at approximately $220,000.

Other institutional investors have also added to or reduced their stakes in the company. Zions Bancorporation National Association UT bought a new position in shares of Martin Marietta Materials in the 1st quarter valued at $30,000. NewSquare Capital LLC lifted its holdings in shares of Martin Marietta Materials by 62.2% in the second quarter. NewSquare Capital LLC now owns 60 shares of the construction company’s stock worth $33,000 after acquiring an additional 23 shares during the last quarter. IMA Advisory Services Inc. acquired a new stake in shares of Martin Marietta Materials in the 1st quarter valued at approximately $40,000. Salomon & Ludwin LLC grew its holdings in shares of Martin Marietta Materials by 156.7% during the 2nd quarter. Salomon & Ludwin LLC now owns 77 shares of the construction company’s stock valued at $43,000 after purchasing an additional 47 shares during the last quarter. Finally, RMG Wealth Management LLC acquired a new position in Martin Marietta Materials during the 2nd quarter worth approximately $55,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Price Performance

Shares of Martin Marietta Materials stock opened at $610.09 on Monday. Martin Marietta Materials, Inc. has a one year low of $441.95 and a one 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. The stock has a market cap of $36.79 billion, a P/E ratio of 33.84, a P/E/G ratio of 5.57 and a beta of 1.06. The stock’s fifty day moving average is $621.68 and its 200 day moving average is $584.18.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Tuesday, November 4th. The construction company reported $5.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.62 by ($0.65). The firm had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%. Martin Marietta Materials has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current 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 issued a $0.83 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $3.32 annualized dividend and a yield of 0.5%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.79. Martin Marietta Materials’s payout ratio is currently 17.50%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on MLM shares. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $525.00 target price (up previously from $515.00) on shares of Martin Marietta Materials in a research note on Friday, August 8th. DA Davidson set a $690.00 price target on Martin Marietta Materials in a report on Thursday. Wells Fargo & Company dropped their price objective on shares of Martin Marietta Materials from $620.00 to $610.00 and set an “equal weight” rating for the company in a report on Thursday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Martin Marietta Materials in a research report on Wednesday, October 8th. Finally, Stifel Nicolaus lifted their price target 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. 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $632.88.

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.