Daymark Wealth Partners LLC Invests $237,000 in Martin Marietta Materials, Inc. $MLM

Daymark Wealth Partners LLC acquired a new position in Martin Marietta Materials, Inc. (NYSE:MLM) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 431 shares of the construction company’s stock, valued at approximately $237,000.

A number of other large investors also recently modified their holdings of MLM. Wayfinding Financial LLC purchased a new position in shares of Martin Marietta Materials in the 1st quarter worth about $29,000. Chilton Capital Management LLC purchased a new position in shares of Martin Marietta Materials in the 1st quarter worth about $30,000. Zions Bancorporation National Association UT purchased a new position in shares of Martin Marietta Materials in the 1st quarter worth about $30,000. IMA Advisory Services Inc. purchased a new position in shares of Martin Marietta Materials in the 1st quarter worth about $40,000. Finally, Salomon & Ludwin LLC raised its holdings in shares of Martin Marietta Materials by 156.7% in the 2nd quarter. Salomon & Ludwin LLC now owns 77 shares of the construction company’s stock worth $43,000 after purchasing an additional 47 shares during the period. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on MLM. Wall Street Zen upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Stephens reiterated an “overweight” rating and issued a $700.00 target price on shares of Martin Marietta Materials in a research note on Monday, August 4th. Bank of America increased their target price on Martin Marietta Materials from $577.00 to $643.00 and gave the company a “neutral” rating in a research note on Tuesday, August 5th. DA Davidson increased their target price on Martin Marietta Materials from $625.00 to $700.00 and gave the company a “buy” rating in a research note on Monday, August 11th. Finally, Barclays increased their target price on Martin Marietta Materials from $600.00 to $675.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $628.56.

Martin Marietta Materials Price Performance

Shares of MLM opened at $614.13 on Friday. The firm has a market cap of $37.04 billion, a price-to-earnings ratio of 34.06, a PEG ratio of 5.57 and a beta of 1.01. The stock has a 50 day moving average of $621.58 and a 200-day moving average of $578.72. The company has a current ratio of 2.35, a quick ratio of 1.21 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.

Martin Marietta Materials (NYSE:MLM) last issued its 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 firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.88 billion. Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%.Martin Marietta Materials’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.76 EPS. Martin Marietta Materials has set its FY 2025 guidance at EPS. As a group, analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd were given a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend 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 18.41%.

Insider Activity at Martin Marietta Materials

In other news, Director Laree E. Perez sold 1,038 shares of Martin Marietta Materials stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $613.32, for a total value of $636,626.16. Following the completion of the transaction, the director owned 15,417 shares in the company, valued at approximately $9,455,554.44. This trade represents a 6.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.69% of the company’s stock.

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.