M&G PLC Has $34.98 Million Position in Martin Marietta Materials, Inc. $MLM

M&G PLC increased its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 0.4% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 63,706 shares of the construction company’s stock after acquiring an additional 277 shares during the quarter. M&G PLC’s holdings in Martin Marietta Materials were worth $34,975,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MLM. NewSquare Capital LLC lifted its holdings in shares of Martin Marietta Materials by 62.2% during the second quarter. NewSquare Capital LLC now owns 60 shares of the construction company’s stock worth $33,000 after purchasing an additional 23 shares during the period. Zions Bancorporation National Association UT acquired a new position in shares of Martin Marietta Materials in the 1st quarter worth approximately $30,000. Aspect Partners LLC increased its position in shares of Martin Marietta Materials by 540.0% during the second quarter. Aspect Partners LLC now owns 64 shares of the construction company’s stock worth $35,000 after buying an additional 54 shares during the period. Salomon & Ludwin LLC raised its position in shares of Martin Marietta Materials by 156.7% in 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. Finally, IMA Advisory Services Inc. bought a new stake in shares of Martin Marietta Materials during the 1st quarter valued at about $40,000. 95.04% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Raymond James Financial boosted their target price on shares of Martin Marietta Materials from $645.00 to $680.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. JPMorgan Chase & Co. increased their price objective on shares of Martin Marietta Materials from $670.00 to $700.00 and gave the stock a “neutral” rating in a research report on Tuesday. Barclays upped their price target on Martin Marietta Materials from $600.00 to $675.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. 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. Finally, DA Davidson set a $690.00 target price on Martin Marietta Materials in a research report on Thursday, November 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Martin Marietta Materials currently has an average rating of “Moderate Buy” and an average target price of $644.38.

Martin Marietta Materials Price Performance

MLM opened at $620.68 on Wednesday. Martin Marietta Materials, Inc. has a 1 year low of $441.95 and a 1 year high of $665.18. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 1.21. The company has a market capitalization of $37.43 billion, a price-to-earnings ratio of 34.42, a P/E/G ratio of 5.57 and a beta of 1.06. The firm’s fifty day moving average price is $621.80 and its two-hundred day moving average price is $585.75.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Tuesday, November 4th. The construction company reported $5.97 EPS for the quarter, missing the consensus estimate of $6.62 by ($0.65). Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. The firm had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Martin Marietta Materials has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd were given a $0.83 dividend. 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 of this dividend was Tuesday, September 2nd. Martin Marietta Materials’s payout ratio is presently 17.50%.

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.