Allianz Asset Management GmbH Decreases Stock Position in Martin Marietta Materials, Inc. $MLM

Allianz Asset Management GmbH lessened its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 48.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,490 shares of the construction company’s stock after selling 2,366 shares during the quarter. Allianz Asset Management GmbH’s holdings in Martin Marietta Materials were worth $1,367,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Wayfinding Financial LLC purchased a new position in shares of Martin Marietta Materials during the 1st quarter valued at approximately $29,000. Zions Bancorporation National Association UT purchased a new position in shares of Martin Marietta Materials during the 1st quarter valued at approximately $30,000. Chilton Capital Management LLC purchased a new position in shares of Martin Marietta Materials during the 1st quarter valued at approximately $30,000. IMA Advisory Services Inc. purchased a new position in shares of Martin Marietta Materials during the 1st quarter valued at approximately $40,000. Finally, Valley National Advisers Inc. boosted its stake in shares of Martin Marietta Materials by 193.9% during the 1st quarter. Valley National Advisers Inc. now owns 97 shares of the construction company’s stock valued at $45,000 after buying an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Insiders Place Their Bets

In other Martin Marietta Materials news, Director Laree E. Perez sold 1,038 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $613.32, for a total value of $636,626.16. Following the sale, the director directly owned 15,417 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available at this link. 0.69% of the stock is owned by corporate insiders.

Martin Marietta Materials Price Performance

Shares of NYSE MLM opened at $621.05 on Friday. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $665.18. 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 business’s fifty day moving average price is $620.38 and its two-hundred day moving average price is $574.26. The firm has a market capitalization of $37.46 billion, a PE ratio of 34.45, a P/E/G ratio of 5.61 and a beta of 1.01.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Thursday, August 7th. The construction company reported $5.43 earnings per share 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 during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the business earned $4.76 earnings per share. Martin Marietta Materials’s quarterly revenue was up 2.7% on a year-over-year basis. Martin Marietta Materials has set its FY 2025 guidance at EPS. On average, research analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Increases Dividend

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

Analysts Set New Price Targets

Several research firms have recently commented on MLM. Morgan Stanley increased their target price on Martin Marietta Materials from $576.00 to $605.00 and gave the company an “overweight” rating in a research note on Monday, July 28th. Raymond James Financial increased their target price 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. Stephens restated an “overweight” rating and set a $700.00 price objective on shares of Martin Marietta Materials in a research note on Monday, August 4th. Barclays raised their price objective on Martin Marietta Materials from $600.00 to $675.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Martin Marietta Materials in a research note on Saturday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Martin Marietta Materials currently has an average rating of “Moderate Buy” and a consensus price target 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.