Ensign Peak Advisors Inc Sells 204 Shares of Martin Marietta Materials, Inc. $MLM

Ensign Peak Advisors Inc lessened its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 0.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,791 shares of the construction company’s stock after selling 204 shares during the period. Ensign Peak Advisors Inc’s holdings in Martin Marietta Materials were worth $13,609,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of MLM. Zions Bancorporation National Association UT acquired a new stake in shares of Martin Marietta Materials in the first quarter worth about $30,000. NewSquare Capital LLC raised its stake in shares of Martin Marietta Materials by 62.2% in the 2nd quarter. NewSquare Capital LLC now owns 60 shares of the construction company’s stock valued at $33,000 after acquiring an additional 23 shares in the last quarter. Clearstead Trust LLC lifted its holdings in Martin Marietta Materials by 93.8% in the 2nd quarter. Clearstead Trust LLC now owns 62 shares of the construction company’s stock worth $34,000 after purchasing an additional 30 shares during the last quarter. Aspect Partners LLC lifted its holdings in Martin Marietta Materials by 540.0% in the 2nd quarter. Aspect Partners LLC now owns 64 shares of the construction company’s stock worth $35,000 after purchasing an additional 54 shares during the last quarter. Finally, Tobam bought a new stake in Martin Marietta Materials during the second quarter worth approximately $40,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Performance

MLM opened at $604.04 on Friday. The stock has a market cap of $36.43 billion, a PE ratio of 33.50, a P/E/G ratio of 5.57 and a beta of 1.06. The company has a current ratio of 2.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a 1 year low of $441.95 and a 1 year high of $665.18. The stock’s 50 day simple moving average is $618.53 and its 200-day simple moving average is $589.52.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Tuesday, November 4th. The construction company reported $5.97 earnings per share for the quarter, missing analysts’ consensus estimates of $6.62 by ($0.65). The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $2.06 billion. Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%. Martin Marietta Materials has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st will be paid a dividend of $0.83 per share. The ex-dividend date is Monday, December 1st. This represents a $3.32 dividend on an annualized basis and a yield of 0.5%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 17.50%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Martin Marietta Materials from $670.00 to $700.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. Bank of America boosted 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. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Martin Marietta Materials in a research report on Wednesday, October 8th. Morgan Stanley boosted their price objective on Martin Marietta Materials from $576.00 to $605.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. Finally, Stephens restated an “overweight” rating and set a $700.00 target price on shares of Martin Marietta Materials in a research note on Monday, August 4th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $644.38.

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.