Advisors Asset Management Inc. Trims Holdings in Martin Marietta Materials, Inc. $MLM

Advisors Asset Management Inc. lowered its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 12.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,942 shares of the construction company’s stock after selling 2,867 shares during the period. Advisors Asset Management Inc.’s holdings in Martin Marietta Materials were worth $11,496,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Martin Marietta Materials by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 7,342,358 shares of the construction company’s stock valued at $3,510,602,000 after acquiring an additional 168,175 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Martin Marietta Materials by 0.4% during the second quarter. JPMorgan Chase & Co. now owns 2,955,139 shares of the construction company’s stock valued at $1,622,254,000 after purchasing an additional 10,445 shares during the period. Amundi lifted its position in Martin Marietta Materials by 9.2% during the first quarter. Amundi now owns 1,706,416 shares of the construction company’s stock valued at $827,345,000 after purchasing an additional 144,270 shares during the period. Geode Capital Management LLC boosted its holdings in Martin Marietta Materials by 0.3% in the second quarter. Geode Capital Management LLC now owns 1,520,932 shares of the construction company’s stock valued at $831,331,000 after purchasing an additional 4,666 shares during the last quarter. Finally, Northern Trust Corp grew its position in Martin Marietta Materials by 2.5% during the 1st quarter. Northern Trust Corp now owns 633,472 shares of the construction company’s stock worth $302,882,000 after purchasing an additional 15,678 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on MLM. DA Davidson set a $690.00 target price on Martin Marietta Materials in a research note on Thursday, November 6th. Stifel Nicolaus upped their price objective on Martin Marietta Materials from $637.00 to $681.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Martin Marietta Materials in a research note on Wednesday, October 8th. UBS Group boosted their target price on shares of Martin Marietta Materials from $705.00 to $723.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Finally, Wells Fargo & Company lowered their price target on shares of Martin Marietta Materials from $620.00 to $610.00 and set an “equal weight” rating on the stock in a report on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $644.38.

Martin Marietta Materials Stock Up 0.2%

NYSE MLM opened at $604.67 on Tuesday. The business has a fifty day moving average price of $618.41 and a 200 day moving average price of $590.35. 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 company has a market cap of $36.47 billion, a P/E ratio of 33.54, a P/E/G 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.

Martin Marietta Materials (NYSE:MLM) last released 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). The business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%. 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 Announces Dividend

The firm 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 $0.83 dividend. The ex-dividend date is Monday, December 1st. This represents a $3.32 dividend on an annualized basis and a yield of 0.5%. Martin Marietta Materials’s dividend payout ratio is presently 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.