JPMorgan Chase & Co. Buys 10,445 Shares of Martin Marietta Materials, Inc. $MLM

JPMorgan Chase & Co. lifted its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 0.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,955,139 shares of the construction company’s stock after purchasing an additional 10,445 shares during the quarter. JPMorgan Chase & Co.’s holdings in Martin Marietta Materials were worth $1,622,254,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Zions Bancorporation National Association UT bought a new stake in Martin Marietta Materials during the first quarter worth about $30,000. NewSquare Capital LLC increased its holdings in Martin Marietta Materials by 62.2% in the 2nd quarter. NewSquare Capital LLC now owns 60 shares of the construction company’s stock valued at $33,000 after buying an additional 23 shares during the period. Clearstead Trust LLC raised its position in shares of Martin Marietta Materials by 93.8% in the 2nd quarter. Clearstead Trust LLC now owns 62 shares of the construction company’s stock valued at $34,000 after buying an additional 30 shares in the last quarter. Aspect Partners LLC lifted its holdings in shares of Martin Marietta Materials by 540.0% during the 2nd quarter. Aspect Partners LLC now owns 64 shares of the construction company’s stock worth $35,000 after acquiring an additional 54 shares during the period. Finally, Tobam acquired a new stake in shares of Martin Marietta Materials during the 2nd quarter worth approximately $40,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $604.04 on Friday. The business’s 50-day moving average price is $618.53 and its 200-day moving average price is $589.15. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $665.18. The firm has a market capitalization of $36.43 billion, a price-to-earnings ratio of 33.50, a PEG ratio of 5.57 and a beta of 1.06. The company has a current ratio of 2.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.56.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data 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 analyst estimates of $2.06 billion. Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. Martin Marietta Materials has set its FY 2025 guidance at EPS. Equities research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st will be paid a dividend of $0.83 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 17.50%.

Analyst Ratings Changes

Several brokerages have commented on MLM. UBS Group boosted their price objective on shares of Martin Marietta Materials from $705.00 to $723.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Stephens reiterated an “overweight” rating and issued a $700.00 price target on shares of Martin Marietta Materials in a research note on Monday, August 4th. Raymond James Financial upped their price objective on Martin Marietta Materials from $645.00 to $680.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. DA Davidson set a $690.00 price objective on Martin Marietta Materials in a research note on Thursday, November 6th. Finally, Morgan Stanley boosted their target price on Martin Marietta Materials from $576.00 to $605.00 and gave the stock an “overweight” rating in a research note on Monday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Martin Marietta Materials currently has an average rating of “Moderate Buy” and a consensus target price of $644.38.

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.