Credit Agricole S A Buys 7,775 Shares of Martin Marietta Materials, Inc. $MLM

Credit Agricole S A increased its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 14.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,597 shares of the construction company’s stock after purchasing an additional 7,775 shares during the period. Credit Agricole S A owned approximately 0.10% of Martin Marietta Materials worth $29,451,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of MLM. GAMMA Investing LLC boosted its stake in shares of Martin Marietta Materials by 58,570.5% during the first quarter. GAMMA Investing LLC now owns 697,592 shares of the construction company’s stock valued at $333,540,000 after purchasing an additional 696,403 shares during the period. American Century Companies Inc. lifted its stake in Martin Marietta Materials by 1,880.3% in the first quarter. American Century Companies Inc. now owns 369,382 shares of the construction company’s stock worth $176,613,000 after acquiring an additional 350,729 shares during the period. JPMorgan Chase & Co. raised its holdings in Martin Marietta Materials by 10.1% in the first quarter. JPMorgan Chase & Co. now owns 2,944,694 shares of the construction company’s stock worth $1,407,947,000 after purchasing an additional 268,928 shares in the last quarter. Alkeon Capital Management LLC raised its holdings in Martin Marietta Materials by 46.6% in the fourth quarter. Alkeon Capital Management LLC now owns 771,198 shares of the construction company’s stock worth $398,324,000 after purchasing an additional 245,000 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. raised its holdings in Martin Marietta Materials by 39.2% in the first quarter. Diamond Hill Capital Management Inc. now owns 659,363 shares of the construction company’s stock worth $315,261,000 after purchasing an additional 185,731 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

MLM stock opened at $606.9660 on Wednesday. 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 business’s fifty day simple moving average is $569.85 and its two-hundred day simple moving average is $531.58. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $633.23. The firm has a market cap of $36.60 billion, a price-to-earnings ratio of 33.66, a PEG ratio of 5.50 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Thursday, August 7th. The construction company reported $5.43 earnings per share for the quarter, missing analysts’ consensus estimates of $5.44 by ($0.01). Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%.The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the previous year, the business earned $4.76 EPS. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. Martin Marietta Materials has set its FY 2025 guidance at EPS. Analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd will be paid a $0.83 dividend. The ex-dividend date is Tuesday, September 2nd. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.79. This represents a $3.32 dividend on an annualized basis and a yield of 0.5%. Martin Marietta Materials’s payout ratio is 18.41%.

Insiders Place Their Bets

In other Martin Marietta Materials news, Director Laree E. Perez sold 1,038 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $613.32, for a total value of $636,626.16. Following the sale, the director owned 15,417 shares in the company, valued at $9,455,554.44. This trade represents a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.68% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have issued reports on MLM shares. Stephens reissued an “overweight” rating and issued a $700.00 target price on shares of Martin Marietta Materials in a research report on Monday, August 4th. Bank of America boosted their price target on Martin Marietta Materials from $577.00 to $643.00 and gave the stock a “neutral” rating in a report on Tuesday, August 5th. Stifel Nicolaus boosted their price target on Martin Marietta Materials from $609.00 to $637.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $525.00 price objective (up from $515.00) on shares of Martin Marietta Materials in a report on Friday, August 8th. Finally, Morgan Stanley increased their price target on Martin Marietta Materials from $576.00 to $605.00 and gave the company an “overweight” rating in a report on Monday, July 28th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $622.63.

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.