Martin Marietta Materials, Inc. $MLM Shares Sold by Amica Retiree Medical Trust

Amica Retiree Medical Trust trimmed its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 53.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 506 shares of the construction company’s stock after selling 587 shares during the period. Amica Retiree Medical Trust’s holdings in Martin Marietta Materials were worth $278,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. American Century Companies Inc. grew its position in shares of Martin Marietta Materials by 1,880.3% in the 1st quarter. American Century Companies Inc. now owns 369,382 shares of the construction company’s stock valued at $176,613,000 after buying an additional 350,729 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Martin Marietta Materials by 10.1% in the 1st quarter. JPMorgan Chase & Co. now owns 2,944,694 shares of the construction company’s stock valued at $1,407,947,000 after purchasing an additional 268,928 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its position in shares of Martin Marietta Materials by 39.2% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 659,363 shares of the construction company’s stock valued at $315,261,000 after purchasing an additional 185,731 shares during the period. Vanguard Group Inc. grew its stake in Martin Marietta Materials by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 7,342,358 shares of the construction company’s stock worth $3,510,602,000 after buying an additional 168,175 shares during the last quarter. Finally, Nuveen LLC purchased a new position in Martin Marietta Materials during the 1st quarter worth approximately $73,020,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on MLM. UBS Group increased their price objective on Martin Marietta Materials from $705.00 to $723.00 and gave the company a “buy” rating in a report on Friday. Bank of America upped their price target 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. Barclays raised their price objective on shares of Martin Marietta Materials from $600.00 to $675.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Stephens restated an “overweight” rating and issued a $700.00 price objective on shares of Martin Marietta Materials in a research note on Monday, August 4th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Martin Marietta Materials in a research note 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 assigned a Hold rating to the stock. According to data from MarketBeat.com, Martin Marietta Materials currently has an average rating of “Moderate Buy” and a consensus target price of $632.88.

Martin Marietta Materials Price Performance

Martin Marietta Materials stock opened at $610.09 on Friday. The firm has a market capitalization of $36.79 billion, a PE ratio of 33.84, a P/E/G ratio of 5.57 and a beta of 1.06. Martin Marietta Materials, Inc. has a 52 week low of $441.95 and a 52 week high of $665.18. The firm’s 50-day simple moving average is $621.68 and its 200 day simple moving average is $583.58. The company has a quick ratio of 1.21, a current ratio of 2.35 and a debt-to-equity ratio of 0.56.

Martin Marietta Materials (NYSE:MLM) last announced its 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 return on equity of 11.88% and a net margin of 16.47%.The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $2.06 billion. Martin Marietta Materials has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal 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 issued a dividend of $0.83 per share. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.79. The ex-dividend date was Tuesday, September 2nd. This represents a $3.32 dividend on an annualized basis and a yield of 0.5%. Martin Marietta Materials’s payout ratio is currently 17.50%.

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.