Martin Marietta Materials, Inc. $MLM Position Trimmed by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lessened its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 3.0% in the 2nd quarter, Holdings Channel reports. The fund owned 3,200 shares of the construction company’s stock after selling 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Martin Marietta Materials were worth $1,757,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Mather Group LLC. lifted its position in shares of Martin Marietta Materials by 65.5% in the 1st quarter. Mather Group LLC. now owns 278 shares of the construction company’s stock valued at $133,000 after acquiring an additional 110 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Martin Marietta Materials by 1.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,007 shares of the construction company’s stock valued at $1,457,000 after acquiring an additional 40 shares in the last quarter. Vontobel Holding Ltd. lifted its position in shares of Martin Marietta Materials by 30.5% in the 1st quarter. Vontobel Holding Ltd. now owns 933 shares of the construction company’s stock valued at $446,000 after acquiring an additional 218 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Martin Marietta Materials by 41.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,159 shares of the construction company’s stock valued at $2,467,000 after acquiring an additional 1,505 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in shares of Martin Marietta Materials by 23.0% in the 1st quarter. Exchange Traded Concepts LLC now owns 454 shares of the construction company’s stock valued at $217,000 after acquiring an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Insider Buying and Selling at Martin Marietta Materials

In other news, Director Laree E. Perez sold 1,038 shares of the firm’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $613.32, for a total transaction of $636,626.16. Following the transaction, the director 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.69% of the company’s stock.

Martin Marietta Materials Stock Down 0.3%

Martin Marietta Materials stock opened at $632.22 on Friday. The company has a market capitalization of $38.13 billion, a P/E ratio of 35.06, a P/E/G ratio of 5.73 and a beta of 1.01. The firm’s fifty day simple moving average is $615.86 and its 200-day simple moving average is $563.34. 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, Inc. has a 1-year low of $441.95 and a 1-year high of $640.00.

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 business 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.76 EPS. Martin Marietta Materials has set its FY 2025 guidance at EPS. Sell-side analysts forecast 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 was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd were issued a dividend of $0.83 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.79. Martin Marietta Materials’s payout ratio is 18.41%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. DA Davidson increased their target price on shares of Martin Marietta Materials from $625.00 to $700.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. Raymond James Financial increased their target price 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. Morgan Stanley increased 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. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Martin Marietta Materials in a research report on Wednesday. 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 stock. According to data from MarketBeat.com, Martin Marietta Materials has a consensus rating of “Moderate Buy” and a consensus target price 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.