Martin Marietta Materials, Inc. $MLM Shares Bought by Stablepoint Partners LLC

Stablepoint Partners LLC raised its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 8.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,077 shares of the construction company’s stock after buying an additional 162 shares during the period. Stablepoint Partners LLC’s holdings in Martin Marietta Materials were worth $1,140,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of MLM. Mackenzie Financial Corp grew its holdings in shares of Martin Marietta Materials by 1.4% in the 2nd quarter. Mackenzie Financial Corp now owns 8,626 shares of the construction company’s stock worth $4,735,000 after acquiring an additional 122 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its position in Martin Marietta Materials by 0.8% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 12,777 shares of the construction company’s stock worth $7,014,000 after purchasing an additional 100 shares in the last quarter. Norges Bank acquired a new stake in Martin Marietta Materials in the second quarter valued at $233,811,000. Groupama Asset Managment acquired a new stake in Martin Marietta Materials in the second quarter valued at $359,000. Finally, State Board of Administration of Florida Retirement System increased its position in shares of Martin Marietta Materials by 1.0% in the second quarter. State Board of Administration of Florida Retirement System now owns 61,544 shares of the construction company’s stock valued at $33,785,000 after buying an additional 580 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MLM has been the topic of several recent research reports. Wells Fargo & Company decreased their price objective on shares of Martin Marietta Materials from $620.00 to $610.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 6th. Barclays lifted their target price on shares of Martin Marietta Materials from $600.00 to $675.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Wall Street Zen lowered shares of Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 8th. Bank of America raised their price objective on shares of Martin Marietta Materials from $577.00 to $643.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 5th. Finally, UBS Group upped their target price on 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 investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $644.38.

Martin Marietta Materials Stock Performance

Shares of NYSE MLM opened at $623.24 on Friday. The company has a 50-day simple moving average of $618.96 and a 200-day simple moving average of $592.14. 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 company has a market cap of $37.59 billion, a PE ratio of 34.57, a price-to-earnings-growth ratio of 5.57 and a beta of 1.06. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $665.18.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Tuesday, November 4th. The construction company reported $5.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.62 by ($0.65). Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. The firm had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Martin Marietta Materials has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st will be issued a dividend of $0.83 per share. The ex-dividend date is Monday, December 1st. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. Martin Marietta Materials’s dividend payout ratio (DPR) is 17.50%.

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.