QRG Capital Management Inc. Has $1.30 Million Position in Martin Marietta Materials, Inc. $MLM

QRG Capital Management Inc. increased its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 15.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,374 shares of the construction company’s stock after buying an additional 311 shares during the quarter. QRG Capital Management Inc.’s holdings in Martin Marietta Materials were worth $1,303,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mather Group LLC. increased its position in shares of Martin Marietta Materials by 65.5% during the first quarter. Mather Group LLC. now owns 278 shares of the construction company’s stock worth $133,000 after buying an additional 110 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Martin Marietta Materials by 1.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,007 shares of the construction company’s stock worth $1,457,000 after buying an additional 40 shares during the period. Vontobel Holding Ltd. increased its position in shares of Martin Marietta Materials by 30.5% during the first quarter. Vontobel Holding Ltd. now owns 933 shares of the construction company’s stock worth $446,000 after buying an additional 218 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Martin Marietta Materials by 41.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,159 shares of the construction company’s stock worth $2,467,000 after buying an additional 1,505 shares during the period. Finally, Exchange Traded Concepts LLC increased its position in shares of Martin Marietta Materials by 23.0% during the first quarter. Exchange Traded Concepts LLC now owns 454 shares of the construction company’s stock worth $217,000 after buying an additional 85 shares during the period. 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 business’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $613.32, for a total value of $636,626.16. Following the completion of the transaction, the director owned 15,417 shares of the company’s stock, valued at $9,455,554.44. The trade was a 6.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.69% of the stock is currently owned by corporate insiders.

Martin Marietta Materials Stock Up 1.0%

Martin Marietta Materials stock opened at $636.08 on Thursday. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $640.00. The firm has a market capitalization of $38.36 billion, a price-to-earnings ratio of 35.28, a price-to-earnings-growth ratio of 5.71 and a beta of 1.01. The firm’s fifty day moving average price is $613.59 and its two-hundred day moving average price is $560.80. The company has a current ratio of 2.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.56.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Thursday, August 7th. The construction company reported $5.43 earnings per share for the quarter, missing analysts’ consensus estimates of $5.44 by ($0.01). The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.88 billion. Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $4.76 earnings per share. 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 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

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

Wall Street Analyst Weigh In

MLM has been the subject of several recent analyst reports. Raymond James Financial increased their price objective on shares of Martin Marietta Materials from $600.00 to $645.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Royal Bank Of Canada restated a “sector perform” rating and issued a $525.00 price target (up from $515.00) on shares of Martin Marietta Materials in a report on Friday, August 8th. Bank of America raised their price target on shares of Martin Marietta Materials from $577.00 to $643.00 and gave the stock a “neutral” rating in a report on Tuesday, August 5th. Wells Fargo & Company initiated coverage on shares of Martin Marietta Materials in a report on Tuesday. They issued an “equal weight” rating and a $620.00 price target for the company. Finally, Stifel Nicolaus raised their price target on shares of Martin Marietta Materials from $609.00 to $637.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $621.69.

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.