Turtle Creek Wealth Advisors LLC Acquires 1,217 Shares of Martin Marietta Materials, Inc. $MLM

Turtle Creek Wealth Advisors LLC increased its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 13.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,230 shares of the construction company’s stock after buying an additional 1,217 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in Martin Marietta Materials were worth $5,616,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Wayfinding Financial LLC purchased a new position in shares of Martin Marietta Materials in the first quarter worth $29,000. Chilton Capital Management LLC purchased a new position in shares of Martin Marietta Materials in the first quarter worth $30,000. Zions Bancorporation National Association UT purchased a new position in shares of Martin Marietta Materials in the first quarter worth $30,000. IMA Advisory Services Inc. purchased a new position in shares of Martin Marietta Materials in the first quarter worth $40,000. Finally, Valley National Advisers Inc. increased its stake in shares of Martin Marietta Materials by 193.9% in the first quarter. Valley National Advisers Inc. now owns 97 shares of the construction company’s stock worth $45,000 after buying an additional 64 shares during the period. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Down 2.5%

NYSE:MLM opened at $640.31 on Thursday. The firm’s 50-day moving average price is $618.39 and its 200-day moving average price is $566.17. The company has a market capitalization of $38.62 billion, a PE ratio of 35.51, a P/E/G ratio of 5.95 and a beta of 1.01. 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, Inc. has a 1-year low of $441.95 and a 1-year high of $665.18.

Martin Marietta Materials (NYSE:MLM) last released its 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 during the quarter, compared to analysts’ expectations of $1.88 billion. Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%.The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $4.76 earnings per share. Martin Marietta Materials has set its FY 2025 guidance at EPS. On average, equities analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

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

Wall Street Analysts Forecast Growth

MLM has been the topic of several analyst reports. Wall Street Zen raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Raymond James Financial lifted 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 note on Friday, August 8th. Bank of America boosted their price objective on shares of Martin Marietta Materials from $577.00 to $643.00 and gave the company a “neutral” rating in a research report on Tuesday, August 5th. DA Davidson boosted their price objective on shares of Martin Marietta Materials from $625.00 to $700.00 and gave the company a “buy” rating in a research report on Monday, August 11th. Finally, Stifel Nicolaus boosted their price objective on shares of Martin Marietta Materials from $609.00 to $637.00 and gave the company a “buy” rating in a research 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 given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $621.69.

Insider Transactions at Martin Marietta Materials

In other Martin Marietta Materials news, Director Laree E. Perez sold 1,038 shares of the company’s 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 transaction, the director owned 15,417 shares in the company, valued at approximately $9,455,554.44. This represents a 6.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.69% of the company’s stock.

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.