QRG Capital Management Inc. Buys 311 Shares of Martin Marietta Materials, Inc. $MLM

QRG Capital Management Inc. lifted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 15.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,374 shares of the construction company’s stock after buying an additional 311 shares during the quarter. QRG Capital Management Inc.’s holdings in Martin Marietta Materials were worth $1,303,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Franklin Street Advisors Inc. NC grew its position in shares of Martin Marietta Materials by 72.9% in the 2nd quarter. Franklin Street Advisors Inc. NC now owns 37,884 shares of the construction company’s stock worth $20,797,000 after buying an additional 15,970 shares during the period. Ascent Group LLC purchased a new stake in shares of Martin Marietta Materials in the 2nd quarter worth about $202,000. Hilltop National Bank purchased a new stake in shares of Martin Marietta Materials in the 2nd quarter worth about $145,000. Triad Wealth Partners LLC purchased a new stake in shares of Martin Marietta Materials in the 2nd quarter worth about $212,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Martin Marietta Materials by 48.7% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,381 shares of the construction company’s stock valued at $6,797,000 after purchasing an additional 4,054 shares during the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Trading Up 1.0%

MLM stock opened at $636.08 on Thursday. The firm has a fifty day moving average price of $613.59 and a 200 day moving average price of $560.80. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $640.00. 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 firm has a market cap of $38.36 billion, a PE ratio of 35.28, a price-to-earnings-growth ratio of 5.71 and a beta of 1.01.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Thursday, August 7th. The construction company reported $5.43 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 in the previous year, the firm earned $4.76 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. Martin Marietta Materials has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

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

Insider Buying and Selling at Martin Marietta Materials

In other news, Director Laree E. Perez sold 1,038 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was 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 in the company, valued at approximately $9,455,554.44. The trade was a 6.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.69% of the company’s stock.

Wall Street Analysts Forecast Growth

MLM has been the topic of several recent analyst reports. Stephens reissued an “overweight” rating and set a $700.00 price objective on shares of Martin Marietta Materials in a research report on Monday, August 4th. DA Davidson increased their price objective on shares of Martin Marietta Materials from $625.00 to $700.00 and gave the company a “buy” rating in a research report on Monday, August 11th. Stifel Nicolaus increased their price objective on shares of Martin Marietta Materials from $609.00 to $637.00 and gave the company a “buy” rating in a research report on Tuesday, August 12th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Martin Marietta Materials in a report on Wednesday. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $525.00 price target (up previously from $515.00) on shares of Martin Marietta Materials in a report on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $621.69.

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.