OFI Invest Asset Management Raises Holdings in Martin Marietta Materials, Inc. $MLM

OFI Invest Asset Management increased its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 6.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 54,135 shares of the construction company’s stock after acquiring an additional 3,119 shares during the period. OFI Invest Asset Management owned approximately 0.09% of Martin Marietta Materials worth $29,718,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in MLM. Wayfinding Financial LLC purchased a new position in shares of Martin Marietta Materials during the first quarter worth $29,000. Chilton Capital Management LLC purchased a new position in shares of Martin Marietta Materials during the first quarter worth $30,000. Zions Bancorporation National Association UT purchased a new position in shares of Martin Marietta Materials during the first quarter worth $30,000. IMA Advisory Services Inc. purchased a new position in shares of Martin Marietta Materials during the first quarter worth $40,000. Finally, Valley National Advisers Inc. boosted its position in shares of Martin Marietta Materials by 193.9% during the first quarter. Valley National Advisers Inc. now owns 97 shares of the construction company’s stock worth $45,000 after buying an additional 64 shares during the period. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Martin Marietta Materials news, Director Laree E. Perez sold 1,038 shares of the firm’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $613.32, for a total value of $636,626.16. Following the sale, the director directly owned 15,417 shares in the company, valued at $9,455,554.44. This trade represents a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.69% of the stock is currently owned by corporate insiders.

Martin Marietta Materials Stock Down 0.3%

Shares of NYSE MLM opened at $632.22 on Friday. Martin Marietta Materials, Inc. has a 12-month low of $441.95 and a 12-month high of $640.00. 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 stock has a market cap of $38.13 billion, a P/E ratio of 35.06, a PEG ratio of 5.73 and a beta of 1.01. The business’s fifty day simple moving average is $615.86 and its 200-day simple moving average is $563.34.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly 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 business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the prior year, the business earned $4.76 earnings per share. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. Martin Marietta Materials has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd were paid a $0.83 dividend. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.79. This represents a $3.32 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Tuesday, September 2nd. Martin Marietta Materials’s payout ratio is 18.41%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Stifel Nicolaus raised their price target on Martin Marietta Materials from $609.00 to $637.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. Royal Bank Of Canada restated a “sector perform” rating and set a $525.00 price target (up from $515.00) on shares of Martin Marietta Materials in a research report on Friday, August 8th. Wall Street Zen upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. DA Davidson increased their price objective on Martin Marietta Materials from $625.00 to $700.00 and gave the company a “buy” rating in a research note on Monday, August 11th. 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 research 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $621.69.

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.