Martin Marietta Materials, Inc. $MLM Shares Acquired by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. grew its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 4.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,512 shares of the construction company’s stock after acquiring an additional 61 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Martin Marietta Materials were worth $830,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MLM. Wayfinding Financial LLC acquired a new stake in Martin Marietta Materials in the first quarter worth about $29,000. Chilton Capital Management LLC acquired a new stake in Martin Marietta Materials in the first quarter worth about $30,000. Zions Bancorporation National Association UT acquired a new stake in Martin Marietta Materials in the first quarter worth about $30,000. IMA Advisory Services Inc. purchased a new position in shares of Martin Marietta Materials in the first quarter worth about $40,000. Finally, Salomon & Ludwin LLC raised its stake in shares of Martin Marietta Materials by 156.7% in the second quarter. Salomon & Ludwin LLC now owns 77 shares of the construction company’s stock worth $43,000 after purchasing an additional 47 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Stock Down 0.5%

Shares of MLM stock opened at $619.49 on Friday. The stock has a 50 day moving average of $620.15 and a 200 day moving average of $572.25. 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 stock has a market cap of $37.36 billion, a P/E ratio of 34.36, a P/E/G ratio of 5.62 and a beta of 1.01. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $665.18.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Thursday, August 7th. The construction company reported $5.43 earnings per share for the quarter, missing the consensus estimate of $5.44 by ($0.01). The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations 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 was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.76 earnings per share. Martin Marietta Materials has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Increases Dividend

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

Insiders Place Their Bets

In related news, Director Laree E. Perez sold 1,038 shares of Martin Marietta Materials stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $613.32, for a total transaction of $636,626.16. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.69% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Royal Bank Of Canada restated a “sector perform” rating and issued a $525.00 price objective (up from $515.00) on shares of Martin Marietta Materials in a research note on Friday, August 8th. Stifel Nicolaus raised their price objective 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. Raymond James Financial raised their price objective on Martin Marietta Materials from $645.00 to $680.00 and gave the stock an “outperform” rating in a research note on Tuesday. Bank of America raised their price objective on Martin Marietta Materials from $577.00 to $643.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 5th. Finally, Morgan Stanley raised their price objective on Martin Marietta Materials from $576.00 to $605.00 and gave the stock an “overweight” rating in a research note on Monday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Martin Marietta Materials has an average rating of “Moderate Buy” and a consensus price target of $628.56.

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.