Martin Marietta Materials, Inc. $MLM Shares Acquired by Perigon Wealth Management LLC

Perigon Wealth Management LLC boosted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 3.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 3,494 shares of the construction company’s stock after acquiring an additional 117 shares during the quarter. Perigon Wealth Management LLC’s holdings in Martin Marietta Materials were worth $1,918,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MLM. GTS Securities LLC boosted its stake in shares of Martin Marietta Materials by 129.4% during the fourth quarter. GTS Securities LLC now owns 560 shares of the construction company’s stock valued at $289,000 after acquiring an additional 2,466 shares during the last quarter. Integrated Advisors Network LLC purchased a new position in shares of Martin Marietta Materials in the 4th quarter worth about $208,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Martin Marietta Materials during the 4th quarter valued at about $13,501,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Martin Marietta Materials by 6.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,654 shares of the construction company’s stock valued at $1,887,000 after buying an additional 227 shares during the period. Finally, 111 Capital purchased a new stake in shares of Martin Marietta Materials during the 4th quarter valued at about $221,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Insider Buying and Selling

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 transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on MLM shares. 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. DA Davidson boosted their price objective on Martin Marietta Materials from $625.00 to $700.00 and gave the company a “buy” rating in a research report on Monday, August 11th. Raymond James Financial boosted their price objective on Martin Marietta Materials from $600.00 to $645.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Bank of America boosted their price target on Martin Marietta Materials from $577.00 to $643.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 5th. Finally, Wall Street Zen upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Martin Marietta Materials currently has an average rating of “Moderate Buy” and a consensus target price of $622.63.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $614.18 on Friday. The firm has a market cap of $37.04 billion, a P/E ratio of 34.06, a PEG ratio of 5.51 and a beta of 0.94. The stock’s 50-day moving average is $605.08 and its two-hundred day moving average is $552.54. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week 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.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Thursday, August 7th. The construction company reported $5.43 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter last year, the company posted $4.76 EPS. The business’s revenue was up 2.7% compared to the same quarter last year. Martin Marietta Materials has set its FY 2025 guidance at EPS. Analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently declared 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 of this dividend is Tuesday, September 2nd. This represents a $3.32 dividend on an annualized basis and a yield of 0.5%. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.79. 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.