Martin Marietta Materials, Inc. $MLM Shares Sold by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. lessened its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 19.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 257 shares of the construction company’s stock after selling 62 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Martin Marietta Materials were worth $123,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Wayfinding Financial LLC acquired a new stake in shares of Martin Marietta Materials in the 1st quarter valued at about $29,000. Chilton Capital Management LLC acquired a new stake in shares of Martin Marietta Materials in the 1st quarter valued at about $30,000. Zions Bancorporation National Association UT acquired a new stake in shares of Martin Marietta Materials in the 1st quarter valued at about $30,000. IMA Advisory Services Inc. acquired a new stake in shares of Martin Marietta Materials in the 1st quarter valued at about $40,000. Finally, Valley National Advisers Inc. raised its stake in shares of Martin Marietta Materials by 193.9% in the 1st quarter. Valley National Advisers Inc. now owns 97 shares of the construction company’s stock valued at $45,000 after purchasing an additional 64 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley upped their target price on shares of Martin Marietta Materials from $576.00 to $605.00 and gave the company an “overweight” rating in a research note on Monday, July 28th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $525.00 price objective (up previously from $515.00) on shares of Martin Marietta Materials in a research report on Friday, August 8th. Bank of America boosted their price objective on shares of Martin Marietta Materials from $577.00 to $643.00 and gave the company a “neutral” rating in a research report on Tuesday, August 5th. Stephens reaffirmed an “overweight” rating and set a $700.00 price objective on shares of Martin Marietta Materials in a research report on Monday, August 4th. Finally, Stifel Nicolaus boosted 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. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $622.63.

Insiders Place Their Bets

In related news, Director Laree E. Perez sold 1,038 shares of the firm’s 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 approximately $9,455,554.44. This trade represents a 6.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.69% of the company’s stock.

Martin Marietta Materials Price Performance

NYSE MLM opened at $609.17 on Thursday. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $633.23. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 1.21. The firm has a market capitalization of $36.74 billion, a PE ratio of 33.79, a P/E/G ratio of 5.53 and a beta of 0.94. The company’s 50 day simple moving average is $597.06 and its 200 day simple moving average is $545.46.

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 analysts’ consensus estimates of $5.44 by ($0.01). Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the prior year, the business earned $4.76 EPS. Martin Marietta Materials’s revenue was up 2.7% compared to the same quarter last year. Martin Marietta Materials has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.83 per share. The ex-dividend date is Tuesday, September 2nd. This is a positive change 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%. Martin Marietta Materials’s payout ratio is 18.41%.

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.