ProShare Advisors LLC Has $6.66 Million Stock Position in Martin Marietta Materials, Inc. $MLM

ProShare Advisors LLC increased its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 9.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,132 shares of the construction company’s stock after purchasing an additional 1,053 shares during the quarter. ProShare Advisors LLC’s holdings in Martin Marietta Materials were worth $6,660,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Martin Marietta Materials by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 7,342,358 shares of the construction company’s stock valued at $3,510,602,000 after purchasing an additional 168,175 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Martin Marietta Materials by 10.1% during the 1st 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. Amundi raised its holdings in Martin Marietta Materials by 9.2% during the 1st quarter. Amundi now owns 1,706,416 shares of the construction company’s stock worth $827,345,000 after buying an additional 144,270 shares during the period. Diamond Hill Capital Management Inc. increased its position in shares of Martin Marietta Materials by 39.2% during the first quarter. Diamond Hill Capital Management Inc. now owns 659,363 shares of the construction company’s stock worth $315,261,000 after acquiring an additional 185,731 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Martin Marietta Materials by 2.5% during the first quarter. Northern Trust Corp now owns 633,472 shares of the construction company’s stock worth $302,882,000 after buying an additional 15,678 shares during the period. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Price Performance

MLM stock opened at $601.90 on Friday. The firm has a 50 day moving average of $621.55 and a 200-day moving average of $586.06. The company has a current ratio of 2.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $36.30 billion, a P/E ratio of 33.38, 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.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Tuesday, November 4th. The construction company reported $5.97 EPS for the quarter, missing the consensus estimate of $6.62 by ($0.65). Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $2.06 billion. Martin Marietta Materials has set its FY 2025 guidance at EPS. As a group, sell-side 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Monday, December 1st. Martin Marietta Materials’s payout ratio is 17.50%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MLM shares. Wells Fargo & Company decreased their price objective on 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. Morgan Stanley increased their target price on shares of Martin Marietta Materials from $576.00 to $605.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. Wall Street Zen downgraded shares of Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 8th. Raymond James Financial raised their price objective on shares of Martin Marietta Materials from $645.00 to $680.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Martin Marietta Materials from $670.00 to $700.00 and gave the company a “neutral” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $644.38.

Martin Marietta Materials Company 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.