Martin Marietta Materials, Inc. $MLM Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC reduced its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 3.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 122,954 shares of the construction company’s stock after selling 3,796 shares during the quarter. Hsbc Holdings PLC owned 0.20% of Martin Marietta Materials worth $67,581,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT bought a new position in shares of Martin Marietta Materials in the first quarter worth $30,000. NewSquare Capital LLC raised its stake 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 valued at $33,000 after purchasing an additional 23 shares in the last quarter. Clearstead Trust LLC raised its stake in shares of Martin Marietta Materials by 93.8% during the second quarter. Clearstead Trust LLC now owns 62 shares of the construction company’s stock valued at $34,000 after purchasing an additional 30 shares in the last quarter. Aspect Partners LLC lifted its holdings in Martin Marietta Materials by 540.0% in the second 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 period. Finally, Tobam bought a new position in Martin Marietta Materials in the 2nd quarter valued at about $40,000. Institutional investors own 95.04% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on MLM. Weiss Ratings restated a “buy (b-)” rating on shares of Martin Marietta Materials in a research report on Wednesday, October 8th. Wells Fargo & Company decreased their price objective on shares of 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. Raymond James Financial boosted their target price on Martin Marietta Materials from $645.00 to $680.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Barclays upped their target price on Martin Marietta Materials from $600.00 to $675.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Finally, JPMorgan Chase & Co. increased their price target on Martin Marietta Materials from $670.00 to $700.00 and gave the company a “neutral” rating in a research note on Tuesday, November 11th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $644.38.

Martin Marietta Materials Trading Up 0.1%

Martin Marietta Materials stock opened at $623.24 on Friday. The firm has a market cap of $37.59 billion, a price-to-earnings ratio of 34.57, a price-to-earnings-growth ratio of 5.57 and a beta of 1.06. Martin Marietta Materials, Inc. has a 1 year low of $441.95 and a 1 year high of $665.18. The firm’s 50 day moving average price is $618.96 and its two-hundred day moving average price is $592.14. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.21 and a current ratio of 2.35.

Martin Marietta Materials (NYSE:MLM) last issued its 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). The company had revenue of $1.85 billion during 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. On average, research analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS 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. Shareholders of record on Monday, December 1st will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, December 1st. Martin Marietta Materials’s dividend payout ratio (DPR) 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.