Whittier Trust Co. Has $10.25 Million Stock Position in Martin Marietta Materials, Inc. $MLM

Whittier Trust Co. grew its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 12.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,678 shares of the construction company’s stock after purchasing an additional 2,085 shares during the period. Whittier Trust Co.’s holdings in Martin Marietta Materials were worth $10,253,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in MLM. American Century Companies Inc. raised its holdings in shares of Martin Marietta Materials by 1,880.3% in the 1st quarter. American Century Companies Inc. now owns 369,382 shares of the construction company’s stock worth $176,613,000 after acquiring an additional 350,729 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Martin Marietta Materials by 10.1% in the 1st quarter. JPMorgan Chase & Co. now owns 2,944,694 shares of the construction company’s stock worth $1,407,947,000 after acquiring an additional 268,928 shares during the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of Martin Marietta Materials by 39.2% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 659,363 shares of the construction company’s stock worth $315,261,000 after acquiring an additional 185,731 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Martin Marietta Materials by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 7,342,358 shares of the construction company’s stock worth $3,510,602,000 after acquiring an additional 168,175 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Martin Marietta Materials in the 1st quarter worth about $73,020,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Insider Buying and Selling at Martin Marietta Materials

In other news, Director Laree E. Perez sold 1,038 shares of the 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 directly owned 15,417 shares of the company’s stock, valued at $9,455,554.44. This represents a 6.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.68% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MLM. Royal Bank Of Canada restated a “sector perform” rating and issued a $525.00 target price (up previously from $515.00) on shares of Martin Marietta Materials in a report on Friday, August 8th. Wall Street Zen upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Morgan Stanley upped their target price on shares of Martin Marietta Materials from $576.00 to $605.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. Raymond James Financial upped their price objective on shares of Martin Marietta Materials from $645.00 to $680.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Stephens reiterated an “overweight” rating and issued a $700.00 price objective on shares of Martin Marietta Materials in a research note on Monday, August 4th. Two 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $628.56.

Martin Marietta Materials Trading Up 0.9%

NYSE:MLM opened at $632.81 on Wednesday. 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 firm has a market cap of $38.16 billion, a price-to-earnings ratio of 35.10, a price-to-earnings-growth ratio of 5.68 and a beta of 1.01. Martin Marietta Materials, Inc. has a 52 week low of $441.95 and a 52 week high of $665.18. The firm has a 50-day moving average price of $620.01 and a two-hundred day moving average price of $570.79.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Thursday, August 7th. The construction company reported $5.43 earnings per share for the quarter, missing analysts’ consensus estimates of $5.44 by ($0.01). Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the prior year, the company earned $4.76 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. Martin Marietta Materials has set its FY 2025 guidance at EPS. On average, equities analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.83 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $3.32 dividend on an annualized basis and a dividend 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 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.