Washington Trust Bank Has $6.59 Million Holdings in Martin Marietta Materials, Inc. $MLM

Washington Trust Bank grew its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 2.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,997 shares of the construction company’s stock after purchasing an additional 241 shares during the period. Washington Trust Bank’s holdings in Martin Marietta Materials were worth $6,586,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MLM. Wayfinding Financial LLC acquired a new position in shares of Martin Marietta Materials during the 1st quarter worth approximately $29,000. Zions Bancorporation National Association UT acquired a new stake in shares of Martin Marietta Materials during the 1st quarter worth approximately $30,000. NewSquare Capital LLC boosted its position in shares of Martin Marietta Materials by 62.2% during the 2nd quarter. NewSquare Capital LLC now owns 60 shares of the construction company’s stock worth $33,000 after acquiring an additional 23 shares in the last quarter. IMA Advisory Services Inc. acquired a new stake in shares of Martin Marietta Materials during the 1st quarter worth approximately $40,000. Finally, Salomon & Ludwin LLC boosted its position in shares of Martin Marietta Materials by 156.7% during the 2nd quarter. Salomon & Ludwin LLC now owns 77 shares of the construction company’s stock worth $43,000 after acquiring an additional 47 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Insiders Place Their Bets

In other news, Director Laree E. Perez sold 1,038 shares of the business’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 completion of the sale, the director directly owned 15,417 shares of the company’s stock, valued at $9,455,554.44. The trade was a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MLM. Barclays increased their price objective on shares of Martin Marietta Materials from $600.00 to $675.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Stifel Nicolaus increased 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 note on Tuesday, August 12th. 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. DA Davidson raised their price target on shares of Martin Marietta Materials from $625.00 to $700.00 and gave the company a “buy” rating in a research note on Monday, August 11th. Finally, Stephens reaffirmed an “overweight” rating and set a $700.00 price target on shares of Martin Marietta Materials in a research note on Monday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $628.56.

Martin Marietta Materials Trading Down 2.3%

MLM opened at $610.61 on Thursday. 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 company has a fifty day moving average of $621.89 and a 200-day moving average of $581.89. The stock has a market cap of $36.82 billion, a PE ratio of 33.87, a price-to-earnings-growth ratio of 5.57 and a beta of 1.01.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Tuesday, November 4th. The construction company reported $5.97 earnings per share for the quarter, missing the consensus estimate of $6.62 by ($0.65). Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%.The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $2.06 billion. Martin Marietta Materials has set its FY 2025 guidance at EPS. On average, sell-side analysts predict 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. Shareholders of record on Tuesday, September 2nd were paid a $0.83 dividend. 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. The ex-dividend date of this dividend was Tuesday, September 2nd. Martin Marietta Materials’s payout ratio is presently 18.41%.

Martin Marietta Materials Company 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.