ProShare Advisors LLC Purchases 1,053 Shares of Martin Marietta Materials, Inc. $MLM

ProShare Advisors LLC grew its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 9.5% during the second quarter, HoldingsChannel.com reports. The fund owned 12,132 shares of the construction company’s stock after acquiring an additional 1,053 shares during the quarter. ProShare Advisors LLC’s holdings in Martin Marietta Materials were worth $6,660,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MLM. Midwest Trust Co bought a new stake in shares of Martin Marietta Materials in the 2nd quarter valued at about $562,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Martin Marietta Materials by 73.2% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 781 shares of the construction company’s stock worth $429,000 after purchasing an additional 330 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Martin Marietta Materials by 6.4% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 115,088 shares of the construction company’s stock worth $63,179,000 after purchasing an additional 6,887 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in Martin Marietta Materials by 10.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 181 shares of the construction company’s stock valued at $99,000 after acquiring an additional 17 shares in the last quarter. Finally, Aviva PLC lifted its position in Martin Marietta Materials by 6.5% in the second quarter. Aviva PLC now owns 45,475 shares of the construction company’s stock valued at $24,964,000 after buying an additional 2,771 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Stock Down 2.1%

Martin Marietta Materials stock opened at $601.90 on Friday. The company has a market capitalization of $36.30 billion, a P/E ratio of 33.38, a P/E/G 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’s fifty day simple moving average is $621.55 and its 200-day simple moving average is $586.06. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $665.18.

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). Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%.The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $2.06 billion. Martin Marietta Materials has set its FY 2025 guidance at EPS. Sell-side analysts forecast 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 announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 1st will be paid a $0.83 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.32 annualized dividend and a dividend yield of 0.6%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 17.50%.

Analyst Upgrades and Downgrades

MLM has been the subject of a number of research reports. Wells Fargo & Company reduced their price target on shares of Martin Marietta Materials from $620.00 to $610.00 and set an “equal weight” rating for the company in a research report on Thursday, November 6th. Weiss Ratings restated a “buy (b-)” rating on shares of Martin Marietta Materials in a research report on Wednesday, October 8th. JPMorgan Chase & Co. raised their target price on shares of Martin Marietta Materials from $670.00 to $700.00 and gave the company a “neutral” rating in a report on Tuesday. Royal Bank Of Canada restated a “sector perform” rating and set a $525.00 target price (up previously from $515.00) on shares of Martin Marietta Materials in a research report on Friday, August 8th. Finally, DA Davidson set a $690.00 price objective on shares of Martin Marietta Materials in a research report on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Martin Marietta Materials has an average rating of “Moderate Buy” and a consensus target price of $644.38.

About Martin Marietta Materials

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.