Martin Marietta Materials, Inc. $MLM Shares Bought by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. raised its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 4.2% during the 2nd quarter, Holdings Channel reports. The firm owned 1,512 shares of the construction company’s stock after buying an additional 61 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Martin Marietta Materials were worth $830,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MLM. Wayfinding Financial LLC acquired a new stake in Martin Marietta Materials in the first quarter valued at approximately $29,000. Chilton Capital Management LLC acquired a new stake in Martin Marietta Materials in the first quarter valued at approximately $30,000. Zions Bancorporation National Association UT acquired a new stake in Martin Marietta Materials in the first quarter valued at approximately $30,000. IMA Advisory Services Inc. acquired a new stake in Martin Marietta Materials in the first quarter valued at approximately $40,000. Finally, Salomon & Ludwin LLC boosted its stake in shares of Martin Marietta Materials by 156.7% in the second quarter. Salomon & Ludwin LLC now owns 77 shares of the construction company’s stock worth $43,000 after acquiring an additional 47 shares during the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MLM has been the topic of a number of research analyst reports. Stifel Nicolaus lifted their price target on Martin Marietta Materials from $609.00 to $637.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. Wells Fargo & Company raised Martin Marietta Materials to a “hold” rating in a research note on Wednesday, October 8th. DA Davidson lifted their price target on Martin Marietta Materials from $625.00 to $700.00 and gave the stock a “buy” rating in a research note on Monday, August 11th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $525.00 price target (up from $515.00) on shares of Martin Marietta Materials in a research note on Friday, August 8th. Finally, Bank of America lifted their price target on Martin Marietta Materials from $577.00 to $643.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $628.56.

Martin Marietta Materials Stock Performance

NYSE MLM opened at $619.49 on Friday. The stock’s fifty day moving average is $620.15 and its two-hundred day moving average is $572.25. The firm has a market capitalization of $37.36 billion, a P/E ratio of 34.36, a price-to-earnings-growth ratio of 5.62 and a beta of 1.01. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.21 and a current ratio of 2.35. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $665.18.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data 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). The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.88 billion. Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%.The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the firm posted $4.76 EPS. Martin Marietta Materials has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

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

Insiders Place Their Bets

In other Martin Marietta Materials news, Director Laree E. Perez sold 1,038 shares of the business’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $613.32, for a total transaction of $636,626.16. Following the transaction, the director owned 15,417 shares of the company’s stock, valued at approximately $9,455,554.44. The trade was a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.69% of the company’s stock.

Martin Marietta Materials 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.