Martin Marietta Materials, Inc. $MLM Shares Sold by Spire Wealth Management

Spire Wealth Management lessened its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 31.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 854 shares of the construction company’s stock after selling 396 shares during the period. Spire Wealth Management’s holdings in Martin Marietta Materials were worth $469,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of MLM. Mather Group LLC. grew its stake 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 buying an additional 110 shares during the period. Allspring Global Investments Holdings LLC grew its stake 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 buying an additional 40 shares during the period. Vontobel Holding Ltd. grew its stake 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 buying an additional 218 shares during the period. Atika Capital Management LLC grew its stake in shares of Martin Marietta Materials by 18.1% in the 1st quarter. Atika Capital Management LLC now owns 55,633 shares of the construction company’s stock valued at $26,600,000 after buying an additional 8,533 shares during the period. Finally, Janney Montgomery Scott LLC grew its stake in shares of Martin Marietta Materials by 0.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 9,576 shares of the construction company’s stock valued at $5,257,000 after buying an additional 33 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $614.13 on Monday. The firm’s 50 day moving average price is $621.58 and its 200-day moving average price is $579.89. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.21 and a current ratio of 2.35. Martin Marietta Materials, Inc. has a one year low of $441.95 and a one year high of $665.18. The firm has a market cap of $37.04 billion, a P/E ratio of 34.06, a P/E/G ratio of 5.57 and a beta of 1.01.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Thursday, August 7th. The construction company reported $5.43 EPS for the quarter, missing the consensus estimate of $5.44 by ($0.01). Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%.The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the prior year, the company posted $4.76 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year. Martin Marietta Materials has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd were given a $0.83 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $3.32 annualized dividend 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 18.41%.

Insider Buying and Selling

In other Martin Marietta Materials news, Director Laree E. Perez sold 1,038 shares of the firm’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. This trade represents a 6.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.69% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MLM. Stifel Nicolaus increased their price target on shares of Martin Marietta Materials from $609.00 to $637.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. Morgan Stanley increased their price target on shares of Martin Marietta Materials from $576.00 to $605.00 and gave the company an “overweight” rating in a research note on Monday, July 28th. Stephens reissued an “overweight” rating and issued a $700.00 price target on shares of Martin Marietta Materials in a research note on Monday, August 4th. 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. Finally, Wells Fargo & Company raised shares of Martin Marietta Materials to a “hold” rating in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus 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.