Elevation Point Wealth Partners LLC Invests $463,000 in Martin Marietta Materials, Inc. $MLM

Elevation Point Wealth Partners LLC purchased a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 843 shares of the construction company’s stock, valued at approximately $463,000.

A number of other institutional investors also recently bought and sold shares of MLM. Harfst & Associates Inc. grew its holdings in shares of Martin Marietta Materials by 51.3% during the 2nd quarter. Harfst & Associates Inc. now owns 3,096 shares of the construction company’s stock worth $1,700,000 after acquiring an additional 1,050 shares during the period. Quadrant Capital Group LLC boosted its position in shares of Martin Marietta Materials by 6.6% during the second quarter. Quadrant Capital Group LLC now owns 2,169 shares of the construction company’s stock valued at $1,191,000 after purchasing an additional 135 shares in the last quarter. Choreo LLC grew its stake in Martin Marietta Materials by 77.2% in the second quarter. Choreo LLC now owns 3,103 shares of the construction company’s stock worth $1,703,000 after purchasing an additional 1,352 shares during the period. Inceptionr LLC raised its holdings in Martin Marietta Materials by 343.8% in the second quarter. Inceptionr LLC now owns 2,512 shares of the construction company’s stock worth $1,379,000 after purchasing an additional 1,946 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in Martin Marietta Materials in the second quarter worth $332,000. 95.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MLM. Barclays boosted their target price on shares of Martin Marietta Materials from $600.00 to $675.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Weiss Ratings restated a “buy (b-)” rating on shares of Martin Marietta Materials in a report on Wednesday, October 8th. DA Davidson set a $690.00 target price on shares of Martin Marietta Materials in a report on Thursday, November 6th. UBS Group boosted their price target on Martin Marietta Materials from $705.00 to $723.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Finally, Bank of America raised their price objective on Martin Marietta Materials from $577.00 to $643.00 and gave the company a “neutral” rating in a research report on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $644.38.

Martin Marietta Materials Trading Up 0.1%

Shares of NYSE MLM opened at $623.24 on Friday. The firm’s 50 day moving average price is $618.96 and its 200-day moving average price is $591.81. Martin Marietta Materials, Inc. has a 52-week low of $441.95 and a 52-week high of $665.18. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.21 and a current ratio of 2.35. The company has a market cap of $37.59 billion, a PE ratio of 34.57, a P/E/G ratio of 5.57 and a beta of 1.06.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Tuesday, November 4th. The construction company reported $5.97 earnings per share for the quarter, missing analysts’ consensus estimates of $6.62 by ($0.65). The firm had revenue of $1.85 billion during the quarter, compared to analysts’ expectations 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. On average, equities research analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently declared 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. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, December 1st. Martin Marietta Materials’s dividend payout ratio is presently 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.