Martin Marietta Materials, Inc. $MLM Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. grew its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 0.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 527,968 shares of the construction company’s stock after purchasing an additional 2,285 shares during the quarter. Franklin Resources Inc. owned approximately 0.88% of Martin Marietta Materials worth $289,833,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in MLM. Zions Bancorporation National Association UT purchased a new position in Martin Marietta Materials during the first quarter worth about $30,000. NewSquare Capital LLC grew its holdings in 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 buying an additional 23 shares during the period. Clearstead Trust LLC increased its stake in shares of Martin Marietta Materials by 93.8% during the 2nd quarter. Clearstead Trust LLC now owns 62 shares of the construction company’s stock valued at $34,000 after acquiring an additional 30 shares during the last quarter. Aspect Partners LLC lifted 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 worth $35,000 after acquiring an additional 54 shares during the period. Finally, Tobam acquired a new stake in shares of Martin Marietta Materials in the second quarter worth approximately $40,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analysts Set New Price Targets

MLM has been the topic of a number of recent analyst reports. Barclays increased their price target on shares of Martin Marietta Materials from $600.00 to $675.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Martin Marietta Materials in a research report on Wednesday, October 8th. Wells Fargo & Company reduced their target price on Martin Marietta Materials from $620.00 to $610.00 and set an “equal weight” rating on the stock in a report on Thursday, November 6th. Wall Street Zen lowered Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 8th. Finally, UBS Group raised their price objective on Martin Marietta Materials from $705.00 to $723.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Two equities 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $644.38.

Martin Marietta Materials Trading Up 1.2%

NYSE:MLM opened at $604.04 on Friday. The business’s 50-day moving average is $618.53 and its two-hundred day moving average is $589.52. The firm has a market capitalization of $36.43 billion, a PE ratio of 33.50, a price-to-earnings-growth ratio of 5.57 and a beta of 1.06. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month 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.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results 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). The company had revenue of $1.85 billion during the quarter, compared to analysts’ expectations 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. Research analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, December 1st. Martin Marietta Materials’s payout ratio is presently 17.50%.

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.