Geode Capital Management LLC Raises Holdings in Martin Marietta Materials, Inc. $MLM

Geode Capital Management LLC boosted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 0.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,520,932 shares of the construction company’s stock after buying an additional 4,666 shares during the period. Geode Capital Management LLC’s holdings in Martin Marietta Materials were worth $831,331,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in MLM. Zions Bancorporation National Association UT bought a new position in Martin Marietta Materials in the 1st quarter worth about $30,000. NewSquare Capital LLC raised its holdings 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 valued at $33,000 after buying an additional 23 shares in the last quarter. Aspect Partners LLC grew its holdings in shares of Martin Marietta Materials by 540.0% during the 2nd quarter. Aspect Partners LLC now owns 64 shares of the construction company’s stock valued at $35,000 after purchasing an additional 54 shares during the last quarter. IMA Advisory Services Inc. purchased a new position in shares of Martin Marietta Materials in the first quarter worth about $40,000. Finally, Tobam purchased a new position in Martin Marietta Materials in the 2nd quarter worth approximately $40,000. Institutional investors own 95.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on MLM. Barclays upped their price target on Martin Marietta Materials from $600.00 to $675.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Bank of America upped their target price on shares of Martin Marietta Materials from $577.00 to $643.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 5th. JPMorgan Chase & Co. increased their target price on Martin Marietta Materials from $670.00 to $700.00 and gave the stock a “neutral” rating in a research note on Tuesday. Raymond James Financial increased their price target on shares of Martin Marietta Materials from $645.00 to $680.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Finally, Wells Fargo & Company reduced their price objective on Martin Marietta Materials from $620.00 to $610.00 and set an “equal weight” rating for the company in a report on Thursday, November 6th. Two investment 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 company. According to data from MarketBeat.com, Martin Marietta Materials has a consensus rating of “Moderate Buy” and an average price target of $644.38.

Martin Marietta Materials Stock Performance

Shares of NYSE:MLM opened at $601.90 on Friday. 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 market capitalization of $36.30 billion, a price-to-earnings ratio of 33.38, a price-to-earnings-growth ratio of 5.57 and a beta of 1.06. The firm has a 50 day moving average of $621.55 and a 200 day moving average of $586.06. Martin Marietta Materials, Inc. has a 52 week low of $441.95 and a 52 week high of $665.18.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Tuesday, November 4th. The construction company reported $5.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company 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. On average, sell-side analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 1st will be paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Monday, December 1st. Martin Marietta Materials’s dividend payout ratio is presently 17.50%.

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.