Choreo LLC Acquires 1,352 Shares of Martin Marietta Materials, Inc. $MLM

Choreo LLC increased its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 77.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 3,103 shares of the construction company’s stock after buying an additional 1,352 shares during the period. Choreo LLC’s holdings in Martin Marietta Materials were worth $1,703,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Fenimore Asset Management Inc boosted its holdings in Martin Marietta Materials by 6.0% in the second quarter. Fenimore Asset Management Inc now owns 88,850 shares of the construction company’s stock worth $48,775,000 after acquiring an additional 5,010 shares in the last quarter. Tableaux LLC bought a new position in Martin Marietta Materials in the 2nd quarter worth about $5,060,000. TD Waterhouse Canada Inc. boosted its stake in Martin Marietta Materials by 31.6% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 5,365 shares of the construction company’s stock worth $2,988,000 after purchasing an additional 1,287 shares in the last quarter. Franklin Resources Inc. grew its position in Martin Marietta Materials by 0.4% during the 2nd quarter. Franklin Resources Inc. now owns 527,968 shares of the construction company’s stock valued at $289,833,000 after purchasing an additional 2,285 shares during the last quarter. Finally, Atlantic Union Bankshares Corp bought a new stake in Martin Marietta Materials during the 2nd quarter valued at about $497,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

NYSE MLM opened at $623.24 on Friday. The stock has a market capitalization of $37.59 billion, a price-to-earnings ratio of 34.57, a PEG ratio of 5.57 and a beta of 1.06. 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 business’s fifty day moving average price is $618.96 and its 200-day moving average price is $591.81.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data 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 net margin of 16.47% and a return on equity of 11.88%. 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. On average, equities analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

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

Analysts Set New Price Targets

MLM has been the subject of several recent analyst reports. Wall Street Zen cut shares of Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. Raymond James Financial boosted their price objective on shares of Martin Marietta Materials from $645.00 to $680.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Stephens reaffirmed an “overweight” rating and issued a $700.00 price objective on shares of Martin Marietta Materials in a research report on Monday, August 4th. Stifel Nicolaus lifted their target price on Martin Marietta Materials from $637.00 to $681.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Finally, Royal Bank Of Canada restated 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 note on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $644.38.

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.