First Citizens Bank & Trust Co. Has $559,000 Position in Martin Marietta Materials, Inc. $MLM

First Citizens Bank & Trust Co. reduced its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 2.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,019 shares of the construction company’s stock after selling 30 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Martin Marietta Materials were worth $559,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Wayfinding Financial LLC acquired a new position in Martin Marietta Materials during the first quarter worth $29,000. Chilton Capital Management LLC bought a new position in Martin Marietta Materials in the first quarter valued at about $30,000. Zions Bancorporation National Association UT bought a new position in Martin Marietta Materials in the first quarter valued at about $30,000. IMA Advisory Services Inc. bought a new position in Martin Marietta Materials in the first quarter valued at about $40,000. Finally, Salomon & Ludwin LLC boosted its holdings in Martin Marietta Materials by 156.7% during the second quarter. Salomon & Ludwin LLC now owns 77 shares of the construction company’s stock worth $43,000 after buying an additional 47 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MLM. DA Davidson raised their target price on Martin Marietta Materials from $625.00 to $700.00 and gave the stock a “buy” rating in a report on Monday, August 11th. Bank of America lifted their target price on Martin Marietta Materials from $577.00 to $643.00 and gave the company a “neutral” rating in a research report on Tuesday, August 5th. Stifel Nicolaus lifted their target price on Martin Marietta Materials from $609.00 to $637.00 and gave the company a “buy” rating in a research report on Tuesday, August 12th. Wall Street Zen upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Martin Marietta Materials in a report on Saturday. 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 company. Based on data from MarketBeat, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $628.56.

Martin Marietta Materials Price Performance

Shares of MLM stock opened at $621.05 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. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $665.18. The company has a market cap of $37.46 billion, a P/E ratio of 34.45, a P/E/G ratio of 5.61 and a beta of 1.01. The business has a fifty day simple moving average of $620.38 and a 200 day simple moving average of $574.26.

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

Martin Marietta Materials Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd were given a $0.83 dividend. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.79. This represents a $3.32 annualized dividend and a yield of 0.5%. The ex-dividend date was Tuesday, September 2nd. Martin Marietta Materials’s dividend payout ratio is 18.41%.

Insider Buying and Selling

In other Martin Marietta Materials news, Director Laree E. Perez sold 1,038 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $613.32, for a total value of $636,626.16. Following the completion of the transaction, the director directly owned 15,417 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.69% of the company’s stock.

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.