Sumitomo Mitsui Trust Group Inc. Buys 4,395 Shares of Martin Marietta Materials, Inc. $MLM

Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 3.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 139,191 shares of the construction company’s stock after purchasing an additional 4,395 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of Martin Marietta Materials worth $76,410,000 at the end of the most recent quarter.

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

Martin Marietta Materials Trading Up 0.3%

MLM opened at $621.05 on Monday. The stock has a market capitalization of $37.46 billion, a P/E ratio of 34.45, a P/E/G ratio of 5.61 and a beta of 1.01. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $665.18. The firm’s fifty day simple moving average is $620.38 and its 200 day simple moving average is $574.90. The company has a current ratio of 2.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.56.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results 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 company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the firm posted $4.76 EPS. The business’s quarterly revenue was up 2.7% on a year-over-year basis. Martin Marietta Materials has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

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

Insider Activity at Martin Marietta Materials

In other Martin Marietta Materials news, Director Laree E. Perez sold 1,038 shares of Martin Marietta Materials stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $613.32, for a total transaction of $636,626.16. Following the completion of the sale, the director directly owned 15,417 shares in the company, valued at $9,455,554.44. The trade was a 6.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MLM. DA Davidson lifted their price target on shares of Martin Marietta Materials from $625.00 to $700.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. Wells Fargo & Company raised shares of Martin Marietta Materials to a “hold” rating in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Stephens reissued an “overweight” rating and set a $700.00 price target on shares of Martin Marietta Materials in a research report on Monday, August 4th. Finally, Morgan Stanley lifted their price target on shares of Martin Marietta Materials from $576.00 to $605.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. Two 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 MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $628.56.

Martin Marietta Materials Company 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.