Portside Wealth Group LLC Buys New Shares in Martin Marietta Materials, Inc. $MLM

Portside Wealth Group LLC purchased a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) in the second quarter, HoldingsChannel reports. The fund purchased 382 shares of the construction company’s stock, valued at approximately $210,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. NewSquare Capital LLC raised its position in shares of Martin Marietta Materials by 62.2% during the second quarter. NewSquare Capital LLC now owns 60 shares of the construction company’s stock valued at $33,000 after buying an additional 23 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of Martin Marietta Materials in the 1st quarter worth approximately $30,000. Clearstead Trust LLC lifted its position in shares of Martin Marietta Materials by 93.8% in the 2nd quarter. Clearstead Trust LLC now owns 62 shares of the construction company’s stock worth $34,000 after acquiring an additional 30 shares during the period. Aspect Partners LLC grew its holdings in shares of Martin Marietta Materials by 540.0% during the 2nd quarter. Aspect Partners LLC now owns 64 shares of the construction company’s stock worth $35,000 after purchasing an additional 54 shares in the last quarter. Finally, Tobam bought a new stake in shares of Martin Marietta Materials during the second quarter valued at approximately $40,000. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Up 0.1%

NYSE MLM opened at $597.60 on Friday. The firm has a market cap of $36.04 billion, a PE ratio of 33.14, a price-to-earnings-growth ratio of 5.57 and a beta of 1.06. Martin Marietta Materials, Inc. has a one year low of $441.95 and a one year high of $665.18. The stock’s 50 day simple moving average is $618.78 and its 200 day simple moving average is $588.72. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 1.21.

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

Martin Marietta Materials Dividend Announcement

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

Analyst Ratings Changes

Several research analysts recently commented on MLM shares. DA Davidson set a $690.00 target price on Martin Marietta Materials in a research report on Thursday, November 6th. Bank of America upped their target price on shares of Martin Marietta Materials from $577.00 to $643.00 and gave the company a “neutral” rating in a research note on Tuesday, August 5th. Wells Fargo & Company cut their price target on shares of Martin Marietta Materials from $620.00 to $610.00 and set an “equal weight” rating for the company in a research note on Thursday, November 6th. Raymond James Financial upped their price objective on Martin Marietta Materials from $645.00 to $680.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Martin Marietta Materials in a report on Wednesday, October 8th. Two equities research 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $644.38.

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.