King Luther Capital Management Corp Has $379.28 Million Stock Holdings in Martin Marietta Materials, Inc. $MLM

King Luther Capital Management Corp lowered its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 2.7% in the second quarter, Holdings Channel.com reports. The institutional investor owned 690,904 shares of the construction company’s stock after selling 19,349 shares during the period. Martin Marietta Materials makes up about 1.6% of King Luther Capital Management Corp’s portfolio, making the stock its 13th largest position. King Luther Capital Management Corp’s holdings in Martin Marietta Materials were worth $379,279,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MLM. Midwest Trust Co bought a new position in Martin Marietta Materials during the 2nd quarter worth about $562,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Martin Marietta Materials by 73.2% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 781 shares of the construction company’s stock valued at $429,000 after buying an additional 330 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Martin Marietta Materials by 6.4% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 115,088 shares of the construction company’s stock valued at $63,179,000 after buying an additional 6,887 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in Martin Marietta Materials by 10.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 181 shares of the construction company’s stock valued at $99,000 after acquiring an additional 17 shares in the last quarter. Finally, Aviva PLC boosted its position in Martin Marietta Materials by 6.5% during the 2nd quarter. Aviva PLC now owns 45,475 shares of the construction company’s stock worth $24,964,000 after acquiring an additional 2,771 shares during the last quarter. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $610.09 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 52 week low of $441.95 and a 52 week high of $665.18. The firm has a 50 day moving average of $621.68 and a 200-day moving average of $583.58. The company has a market cap of $36.79 billion, a price-to-earnings ratio of 33.84, a price-to-earnings-growth ratio of 5.57 and a beta of 1.06.

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 the consensus estimate of $6.62 by ($0.65). The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $2.06 billion. Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. Martin Marietta Materials has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd were paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 0.5%. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend was Tuesday, September 2nd. Martin Marietta Materials’s payout ratio is 17.50%.

Analyst Ratings Changes

A number of analysts have recently issued reports on MLM shares. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $525.00 price objective (up from $515.00) on shares of Martin Marietta Materials in a report on Friday, August 8th. Morgan Stanley increased their price objective on shares of Martin Marietta Materials from $576.00 to $605.00 and gave the stock an “overweight” rating in a research note on Monday, July 28th. Stifel Nicolaus upped their target price on shares of Martin Marietta Materials from $609.00 to $637.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. Barclays raised their price target on Martin Marietta Materials from $600.00 to $675.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Finally, Raymond James Financial increased their target price on Martin Marietta Materials from $645.00 to $680.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and a consensus target price of $632.88.

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.