Western Wealth Management LLC Invests $223,000 in Martin Marietta Materials, Inc. $MLM

Western Wealth Management LLC purchased a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 406 shares of the construction company’s stock, valued at approximately $223,000.

Other large investors also recently bought and sold shares of the company. Victory Capital Management Inc. grew its stake in shares of Martin Marietta Materials by 8.1% during the 1st quarter. Victory Capital Management Inc. now owns 35,695 shares of the construction company’s stock worth $17,067,000 after purchasing an additional 2,670 shares during the period. Kestra Private Wealth Services LLC grew its position in Martin Marietta Materials by 34.8% during the first quarter. Kestra Private Wealth Services LLC now owns 1,328 shares of the construction company’s stock valued at $635,000 after buying an additional 343 shares during the period. Lindbrook Capital LLC increased its holdings in Martin Marietta Materials by 123.5% in the first quarter. Lindbrook Capital LLC now owns 380 shares of the construction company’s stock valued at $182,000 after buying an additional 210 shares in the last quarter. KLP Kapitalforvaltning AS raised its position in shares of Martin Marietta Materials by 1.4% in the first quarter. KLP Kapitalforvaltning AS now owns 21,193 shares of the construction company’s stock worth $10,133,000 after acquiring an additional 300 shares during the period. Finally, Egerton Capital UK LLP raised its position in shares of Martin Marietta Materials by 101.0% in the first quarter. Egerton Capital UK LLP now owns 165,338 shares of the construction company’s stock worth $79,053,000 after acquiring an additional 83,062 shares during the period. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Up 0.7%

NYSE MLM opened at $597.26 on Thursday. Martin Marietta Materials, Inc. has a one year low of $441.95 and a one year 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 business has a fifty day moving average price of $619.47 and a 200 day moving average price of $588.66. The company has a market cap of $36.02 billion, a P/E ratio of 33.13, a P/E/G ratio of 5.57 and a beta of 1.06.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Tuesday, November 4th. The construction company reported $5.97 EPS for the quarter, missing analysts’ consensus estimates of $6.62 by ($0.65). The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $2.06 billion. Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. Martin Marietta Materials has set its FY 2025 guidance at EPS. Research analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st will be paid a dividend of $0.83 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. Martin Marietta Materials’s payout ratio is 17.50%.

Wall Street Analyst Weigh In

MLM has been the subject of several recent analyst reports. Royal Bank Of Canada restated a “sector perform” rating and issued a $525.00 price target (up previously from $515.00) on shares of Martin Marietta Materials in a research note on Friday, August 8th. JPMorgan Chase & Co. boosted their price objective on Martin Marietta Materials from $670.00 to $700.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. Bank of America increased their target price 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. Weiss Ratings reissued a “buy (b-)” rating on shares of Martin Marietta Materials in a report on Wednesday, October 8th. Finally, Barclays increased their price objective 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. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $644.38.

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.