AlTi Global Inc. Has $837,000 Stock Holdings in Martin Marietta Materials, Inc. $MLM

AlTi Global Inc. increased its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 3.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,479 shares of the construction company’s stock after purchasing an additional 47 shares during the period. AlTi Global Inc.’s holdings in Martin Marietta Materials were worth $837,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in MLM. American Century Companies Inc. grew its stake in Martin Marietta Materials by 1,880.3% during the first quarter. American Century Companies Inc. now owns 369,382 shares of the construction company’s stock worth $176,613,000 after purchasing an additional 350,729 shares during the period. JPMorgan Chase & Co. grew its stake in Martin Marietta Materials by 10.1% during the first quarter. JPMorgan Chase & Co. now owns 2,944,694 shares of the construction company’s stock worth $1,407,947,000 after purchasing an additional 268,928 shares during the period. Diamond Hill Capital Management Inc. grew its stake in Martin Marietta Materials by 39.2% during the first quarter. Diamond Hill Capital Management Inc. now owns 659,363 shares of the construction company’s stock worth $315,261,000 after purchasing an additional 185,731 shares during the period. Vanguard Group Inc. grew its stake in Martin Marietta Materials by 2.3% during the first quarter. Vanguard Group Inc. now owns 7,342,358 shares of the construction company’s stock worth $3,510,602,000 after purchasing an additional 168,175 shares during the period. Finally, Nuveen LLC acquired a new stake in Martin Marietta Materials during the first quarter worth approximately $73,020,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MLM. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Martin Marietta Materials in a research note on Wednesday, October 8th. DA Davidson raised their price objective on Martin Marietta Materials from $625.00 to $700.00 and gave the company a “buy” rating in a research note on Monday, August 11th. Barclays raised their price objective on Martin Marietta Materials from $600.00 to $675.00 and gave the company an “overweight” rating in a research note on Monday. Stephens reissued an “overweight” rating and issued a $700.00 price objective on shares of Martin Marietta Materials in a research note on Monday, August 4th. Finally, Morgan Stanley raised their price objective on Martin Marietta Materials from $576.00 to $605.00 and gave the company an “overweight” rating in a research note on Monday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Martin Marietta Materials has an average rating of “Moderate Buy” and a consensus target price of $628.56.

Insider Buying and Selling

In related news, Director Laree E. Perez sold 1,038 shares of Martin Marietta Materials stock in a transaction 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 sale, 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 SEC, which can be accessed through this link. Company insiders own 0.69% of the company’s stock.

Martin Marietta Materials Stock Up 0.3%

MLM stock opened at $621.05 on Friday. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $665.18. The company has a quick ratio of 1.21, a current ratio of 2.35 and a debt-to-equity ratio of 0.56. The stock’s 50 day moving average is $620.38 and its 200-day moving average is $573.41. The firm has a market capitalization of $37.46 billion, a PE ratio of 34.45, a P/E/G ratio of 5.59 and a beta of 1.01.

Martin Marietta Materials (NYSE:MLM) last posted 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). Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the business earned $4.76 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. Martin Marietta Materials has set its FY 2025 guidance at EPS. Sell-side analysts expect 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. Stockholders of record on Tuesday, September 2nd were issued a $0.83 dividend. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.79. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Tuesday, September 2nd. Martin Marietta Materials’s dividend payout ratio is 18.41%.

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.