Candriam S.C.A. Acquires 430 Shares of Martin Marietta Materials, Inc. $MLM

Candriam S.C.A. increased its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 10.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 4,486 shares of the construction company’s stock after buying an additional 430 shares during the quarter. Candriam S.C.A.’s holdings in Martin Marietta Materials were worth $2,463,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake 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 valued at $3,510,602,000 after purchasing an additional 168,175 shares during the period. JPMorgan Chase & Co. boosted its stake in 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 valued at $1,407,947,000 after buying an additional 268,928 shares in the last quarter. Amundi boosted its stake in Martin Marietta Materials by 9.2% in the 1st quarter. Amundi now owns 1,706,416 shares of the construction company’s stock valued at $827,345,000 after buying an additional 144,270 shares in the last quarter. Geode Capital Management LLC grew its position in Martin Marietta Materials by 0.3% in the second quarter. Geode Capital Management LLC now owns 1,520,932 shares of the construction company’s stock valued at $831,331,000 after acquiring an additional 4,666 shares during the period. Finally, Diamond Hill Capital Management Inc. raised its stake in Martin Marietta Materials by 39.2% during the first 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 in the last quarter. Institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Martin Marietta Materials from $670.00 to $700.00 and gave the company a “neutral” rating in a research note on Tuesday, November 11th. Stifel Nicolaus lifted their price target on shares of Martin Marietta Materials from $637.00 to $681.00 and gave the company a “buy” rating in a report on Tuesday, November 11th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $525.00 price objective (up from $515.00) on shares of Martin Marietta Materials in a research note on Friday, August 8th. Stephens reaffirmed an “overweight” rating and set a $700.00 price objective on shares of Martin Marietta Materials in a report on Monday, August 4th. Finally, UBS Group lifted their target price on shares of Martin Marietta Materials from $705.00 to $723.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Martin Marietta Materials has a consensus rating of “Moderate Buy” and an average price target of $644.38.

Martin Marietta Materials Trading Down 1.0%

MLM opened at $596.11 on Monday. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $665.18. The stock has a market capitalization of $35.95 billion, a PE ratio of 33.06, 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. The firm has a 50-day moving average price of $621.02 and a two-hundred day moving average price of $587.73.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Tuesday, November 4th. The construction company reported $5.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.62 by ($0.65). The company had revenue of $1.85 billion for the quarter, compared to analyst estimates 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. As a group, equities analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st will be given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, December 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 17.50%.

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.