JSF Financial LLC Acquires New Stake in Martin Marietta Materials, Inc. $MLM

JSF Financial LLC purchased a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 2,241 shares of the construction company’s stock, valued at approximately $1,230,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MLM. Vanguard Group Inc. lifted its holdings in shares of Martin Marietta Materials by 2.3% in the first quarter. Vanguard Group Inc. now owns 7,342,358 shares of the construction company’s stock valued at $3,510,602,000 after buying an additional 168,175 shares during the period. JPMorgan Chase & Co. raised its position 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 acquiring an additional 268,928 shares in the last quarter. Principal Financial Group Inc. raised its position in Martin Marietta Materials by 6.6% in the first quarter. Principal Financial Group Inc. now owns 1,940,423 shares of the construction company’s stock worth $927,775,000 after acquiring an additional 120,679 shares in the last quarter. Amundi grew its stake in shares of Martin Marietta Materials by 9.2% in the 1st quarter. Amundi now owns 1,706,416 shares of the construction company’s stock worth $827,345,000 after purchasing an additional 144,270 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. grew its stake in shares of Martin Marietta Materials by 39.2% in the 1st 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 during the last quarter. 95.04% of the stock is owned by institutional investors.

Insider Buying and Selling at Martin Marietta Materials

In other news, Director Laree E. Perez sold 1,038 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $613.32, for a total transaction of $636,626.16. Following the completion of the sale, the director directly owned 15,417 shares of the company’s stock, valued at $9,455,554.44. This trade represents a 6.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.69% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MLM. Raymond James Financial raised their target price on shares of Martin Marietta Materials from $600.00 to $645.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. DA Davidson increased their price objective on Martin Marietta Materials from $625.00 to $700.00 and gave the company a “buy” rating in a research report on Monday, August 11th. Stifel Nicolaus increased their price objective 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. Stephens reaffirmed an “overweight” rating and set a $700.00 target price on shares of Martin Marietta Materials in a research report on Monday, August 4th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $525.00 target price (up from $515.00) on shares of Martin Marietta Materials in a research report on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $622.63.

Martin Marietta Materials Stock Up 1.2%

Martin Marietta Materials stock opened at $635.61 on Friday. The firm’s 50 day moving average price is $610.18 and its two-hundred day moving average price is $558.16. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.21 and a current ratio of 2.35. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $637.36. The firm has a market cap of $38.33 billion, a PE ratio of 35.25, a P/E/G ratio of 5.75 and a beta of 1.01.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly 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 company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. The company’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.76 earnings per share. Martin Marietta Materials has set its FY 2025 guidance at EPS. On average, research analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.83 per share. 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. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. Martin Marietta Materials’s dividend payout ratio (DPR) is 18.41%.

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.