Shell Asset Management Co. Raises Position in Martin Marietta Materials, Inc. $MLM

Shell Asset Management Co. lifted its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 73.4% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,223 shares of the construction company’s stock after buying an additional 2,634 shares during the quarter. Shell Asset Management Co.’s holdings in Martin Marietta Materials were worth $3,416,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Mather Group LLC. lifted its stake in shares of Martin Marietta Materials by 65.5% during the 1st quarter. Mather Group LLC. now owns 278 shares of the construction company’s stock valued at $133,000 after buying an additional 110 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Martin Marietta Materials by 1.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,007 shares of the construction company’s stock valued at $1,457,000 after buying an additional 40 shares in the last quarter. Vontobel Holding Ltd. lifted its stake in shares of Martin Marietta Materials by 30.5% during the 1st quarter. Vontobel Holding Ltd. now owns 933 shares of the construction company’s stock valued at $446,000 after buying an additional 218 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Martin Marietta Materials by 41.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,159 shares of the construction company’s stock valued at $2,467,000 after buying an additional 1,505 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in shares of Martin Marietta Materials by 23.0% during the 1st quarter. Exchange Traded Concepts LLC now owns 454 shares of the construction company’s stock valued at $217,000 after buying an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Bank of America lifted their target price on shares of Martin Marietta Materials from $577.00 to $643.00 and gave the company a “neutral” rating in a research note on Tuesday, August 5th. Wall Street Zen upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. DA Davidson boosted their price target on shares of Martin Marietta Materials from $625.00 to $700.00 and gave the stock a “buy” rating in a research note on Monday, August 11th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $525.00 price target (up previously from $515.00) on shares of Martin Marietta Materials in a research note on Friday, August 8th. Finally, Raymond James Financial boosted their price target on shares of Martin Marietta Materials from $600.00 to $645.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and an average target price of $622.47.

Insider Buying and Selling

In related news, Director Laree E. Perez sold 1,038 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were 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 in the company, valued at approximately $9,455,554.44. This represents a 6.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.68% of the company’s stock.

Martin Marietta Materials Stock Performance

Martin Marietta Materials stock opened at $628.63 on Wednesday. The company’s 50-day moving average price is $612.37 and its 200-day moving average price is $560.28. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $640.00. The company has a quick ratio of 1.21, a current ratio of 2.35 and a debt-to-equity ratio of 0.56. The company has a market cap of $37.91 billion, a PE ratio of 34.87, a price-to-earnings-growth ratio of 5.77 and a beta of 1.01.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Thursday, August 7th. The construction company reported $5.43 earnings per share for the quarter, missing analysts’ consensus estimates of $5.44 by ($0.01). Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%.The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter last year, the firm earned $4.76 earnings per share. The business’s quarterly revenue was up 2.7% on a year-over-year basis. Martin Marietta Materials has set its FY 2025 guidance at EPS. On average, equities research 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 declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd were issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 0.5%. The ex-dividend date was Tuesday, September 2nd. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.79. Martin Marietta Materials’s payout ratio is currently 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.