Martin Marietta Materials, Inc. $MLM Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. lowered its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 5.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 886 shares of the construction company’s stock after selling 47 shares during the quarter. Vontobel Holding Ltd.’s holdings in Martin Marietta Materials were worth $486,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of MLM. American Century Companies Inc. boosted its position in Martin Marietta Materials by 1,880.3% during the first 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. boosted its position in Martin Marietta Materials by 10.1% during the first 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. boosted its position 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 during the last quarter. Vanguard Group Inc. boosted its position in Martin Marietta Materials by 2.3% during the first 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 Martin Marietta Materials during the first quarter worth approximately $73,020,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Insider Transactions at Martin Marietta Materials

In related news, Director Laree E. Perez sold 1,038 shares of Martin Marietta Materials stock in a transaction 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 sale, the director owned 15,417 shares of the company’s stock, valued at $9,455,554.44. The trade was a 6.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.68% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on MLM. Raymond James Financial lifted their price target on shares of Martin Marietta Materials from $600.00 to $645.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $525.00 price target (up previously from $515.00) on shares of Martin Marietta Materials in a report on Friday, August 8th. Wells Fargo & Company upgraded shares of Martin Marietta Materials to a “hold” rating in a report on Wednesday, October 8th. Stephens reiterated an “overweight” rating and issued a $700.00 price target on shares of Martin Marietta Materials in a report on Monday, August 4th. Finally, Bank of America lifted their price target on shares of Martin Marietta Materials from $577.00 to $643.00 and gave the company a “neutral” rating in a report on Tuesday, August 5th. Two research 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $621.69.

Martin Marietta Materials Stock Performance

Martin Marietta Materials stock opened at $656.44 on Wednesday. Martin Marietta Materials, Inc. has a 12-month low of $441.95 and a 12-month high of $657.36. The company has a market capitalization of $39.59 billion, a price-to-earnings ratio of 36.41, a price-to-earnings-growth ratio of 5.79 and a beta of 1.01. 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 firm’s fifty day moving average price is $617.58 and its 200 day moving average price is $565.65.

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

Martin Marietta Materials Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd were paid a dividend of $0.83 per share. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $3.32 annualized dividend and a yield of 0.5%. Martin Marietta Materials’s payout ratio is presently 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.