Martin Marietta Materials, Inc. $MLM Shares Purchased by GDS Wealth Management

GDS Wealth Management lifted its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 40.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,621 shares of the construction company’s stock after buying an additional 4,538 shares during the period. GDS Wealth Management’s holdings in Martin Marietta Materials were worth $8,575,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. boosted its holdings in Martin Marietta Materials by 8.1% in the first quarter. Victory Capital Management Inc. now owns 35,695 shares of the construction company’s stock valued at $17,067,000 after purchasing an additional 2,670 shares during the last quarter. Kestra Private Wealth Services LLC increased its holdings in Martin Marietta Materials by 34.8% in the first quarter. Kestra Private Wealth Services LLC now owns 1,328 shares of the construction company’s stock valued at $635,000 after buying an additional 343 shares during the last quarter. Lindbrook Capital LLC raised its stake in Martin Marietta Materials by 123.5% during the first quarter. Lindbrook Capital LLC now owns 380 shares of the construction company’s stock valued at $182,000 after buying an additional 210 shares in the last quarter. KLP Kapitalforvaltning AS lifted its holdings in Martin Marietta Materials by 1.4% during the 1st quarter. KLP Kapitalforvaltning AS now owns 21,193 shares of the construction company’s stock worth $10,133,000 after buying an additional 300 shares during the last quarter. Finally, Egerton Capital UK LLP grew its position in shares of Martin Marietta Materials by 101.0% in the 1st quarter. Egerton Capital UK LLP now owns 165,338 shares of the construction company’s stock worth $79,053,000 after acquiring an additional 83,062 shares in the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MLM. Wells Fargo & Company reduced their price objective on Martin Marietta Materials from $620.00 to $610.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Martin Marietta Materials in a report on Wednesday, October 8th. Raymond James Financial raised their price target on Martin Marietta Materials from $645.00 to $680.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Stifel Nicolaus upped their price objective on Martin Marietta Materials from $637.00 to $681.00 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. Finally, DA Davidson set a $690.00 target price on Martin Marietta Materials in a research report on Thursday, November 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $644.38.

Martin Marietta Materials Stock Performance

NYSE:MLM opened at $597.26 on Thursday. The company has a 50-day moving average of $619.47 and a 200-day moving average of $588.66. The firm has a market cap of $36.02 billion, a price-to-earnings ratio of 33.13, a price-to-earnings-growth ratio of 5.57 and a beta of 1.06. The company has a current ratio of 2.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $665.18.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Tuesday, November 4th. The construction company reported $5.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.62 by ($0.65). The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $2.06 billion. Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%. Martin Marietta Materials has set its FY 2025 guidance at EPS. Analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 1st will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Monday, December 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 17.50%.

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.