TD Private Client Wealth LLC Cuts Position in Martin Marietta Materials, Inc. $MLM

TD Private Client Wealth LLC decreased its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 5.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 767 shares of the construction company’s stock after selling 46 shares during the quarter. TD Private Client Wealth LLC’s holdings in Martin Marietta Materials were worth $421,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of Martin Marietta Materials by 6.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,654 shares of the construction company’s stock worth $1,887,000 after buying an additional 227 shares during the last quarter. 111 Capital acquired a new position in shares of Martin Marietta Materials during the 4th quarter worth $221,000. Wellington Management Group LLP increased its position in Martin Marietta Materials by 5.4% during the 4th quarter. Wellington Management Group LLP now owns 448 shares of the construction company’s stock worth $231,000 after purchasing an additional 23 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in Martin Marietta Materials by 3.5% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,184 shares of the construction company’s stock worth $566,000 after purchasing an additional 40 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Martin Marietta Materials by 58,570.5% during the 1st quarter. GAMMA Investing LLC now owns 697,592 shares of the construction company’s stock worth $333,540,000 after purchasing an additional 696,403 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on MLM shares. Morgan Stanley lifted their price objective on Martin Marietta Materials from $576.00 to $605.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $525.00 price target (up from $515.00) on shares of Martin Marietta Materials in a research note on Friday, August 8th. Stifel Nicolaus raised their price target on Martin Marietta Materials from $609.00 to $637.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. DA Davidson raised their price target on Martin Marietta Materials from $625.00 to $700.00 and gave the stock a “buy” rating in a research note on Monday, August 11th. Finally, Wall Street Zen raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $622.63.

Martin Marietta Materials Stock Performance

NYSE MLM opened at $614.18 on Friday. The firm has a market capitalization of $37.04 billion, a P/E ratio of 34.06, a P/E/G ratio of 5.56 and a beta of 0.94. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $633.23. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 1.21. The business’s 50-day simple moving average is $605.08 and its 200-day simple moving average is $553.15.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Thursday, August 7th. The construction company reported $5.43 earnings per share 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 analyst estimates of $1.88 billion. Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $4.76 earnings per share. Martin Marietta Materials has set its FY 2025 guidance at EPS. Equities analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd will be paid a $0.83 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.79. Martin Marietta Materials’s dividend payout ratio is presently 18.41%.

Insider Buying and Selling at Martin Marietta Materials

In related news, Director Laree E. Perez sold 1,038 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $613.32, for a total transaction of $636,626.16. Following the transaction, the director directly owned 15,417 shares of the company’s stock, valued at approximately $9,455,554.44. The trade was a 6.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.69% of the stock is owned by corporate insiders.

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.