Pelham Capital Ltd. Sells 3,885 Shares of Martin Marietta Materials, Inc. $MLM

Pelham Capital Ltd. cut its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 16.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,135 shares of the construction company’s stock after selling 3,885 shares during the period. Martin Marietta Materials comprises about 4.9% of Pelham Capital Ltd.’s holdings, making the stock its 9th largest position. Pelham Capital Ltd.’s holdings in Martin Marietta Materials were worth $10,504,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its holdings in Martin Marietta Materials by 6.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,654 shares of the construction company’s stock worth $1,887,000 after purchasing an additional 227 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Martin Marietta Materials by 5.4% in the 4th quarter. Wellington Management Group LLP now owns 448 shares of the construction company’s stock valued at $231,000 after acquiring an additional 23 shares during the period. Fifth Third Wealth Advisors LLC increased its position in Martin Marietta Materials by 7.0% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 914 shares of the construction company’s stock valued at $437,000 after acquiring an additional 60 shares during the period. Fiduciary Alliance LLC acquired a new position in Martin Marietta Materials in the 1st quarter valued at $317,000. Finally, NBC Securities Inc. acquired a new position in shares of Martin Marietta Materials during the first quarter worth about $67,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Performance

MLM stock opened at $618.69 on Thursday. The company has a current ratio of 2.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.56. The firm has a market cap of $37.31 billion, a P/E ratio of 34.31, a P/E/G ratio of 5.71 and a beta of 1.01. Martin Marietta Materials, Inc. has a 12-month low of $441.95 and a 12-month high of $634.84. The stock’s 50 day simple moving average is $608.28 and its 200 day simple moving average is $555.72.

Martin Marietta Materials (NYSE:MLM) last posted 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). The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.88 billion. Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $4.76 earnings per share. Martin Marietta Materials has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd were paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 0.5%. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.79. The ex-dividend date was Tuesday, September 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 18.41%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Morgan Stanley upped their target price on shares of Martin Marietta Materials from $576.00 to $605.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. Stifel Nicolaus raised their price target on Martin Marietta Materials from $609.00 to $637.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. Stephens reiterated an “overweight” rating and issued a $700.00 target price on shares of Martin Marietta Materials in a report on Monday, August 4th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $525.00 price target (up from $515.00) on shares of Martin Marietta Materials in a research report on Friday, August 8th. Finally, DA Davidson boosted their price target on Martin Marietta Materials from $625.00 to $700.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Martin Marietta Materials presently has an average rating of “Moderate Buy” and an average price target of $622.63.

Insiders Place Their Bets

In related news, Director Laree E. Perez sold 1,038 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $613.32, for a total transaction of $636,626.16. Following the sale, the director owned 15,417 shares in the company, valued at $9,455,554.44. This represents a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.69% of the stock is currently owned by company insiders.

Martin Marietta Materials 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.