RMG Wealth Management LLC Purchases New Stake in Martin Marietta Materials, Inc. $MLM

RMG Wealth Management LLC acquired a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 98 shares of the construction company’s stock, valued at approximately $55,000.

Several other hedge funds and other institutional investors also recently modified their holdings of MLM. American Century Companies Inc. increased its holdings in Martin Marietta Materials by 1,880.3% in the first quarter. American Century Companies Inc. now owns 369,382 shares of the construction company’s stock valued at $176,613,000 after buying an additional 350,729 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Martin Marietta Materials by 10.1% during the 1st quarter. JPMorgan Chase & Co. now owns 2,944,694 shares of the construction company’s stock worth $1,407,947,000 after buying an additional 268,928 shares during the last quarter. Diamond Hill Capital Management Inc. grew its position 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 acquiring an additional 185,731 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Martin Marietta Materials by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 7,342,358 shares of the construction company’s stock valued at $3,510,602,000 after acquiring an additional 168,175 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Martin Marietta Materials during the 1st quarter valued at approximately $73,020,000. Institutional investors own 95.04% of the company’s stock.

Insider Transactions at Martin Marietta Materials

In other Martin Marietta Materials news, Director Laree E. Perez sold 1,038 shares of the firm’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 owned 15,417 shares of the company’s stock, valued at approximately $9,455,554.44. This trade represents a 6.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.68% of the stock is owned by corporate insiders.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $628.63 on Wednesday. The firm’s 50 day moving average is $612.37 and its two-hundred day moving average is $560.28. The firm has a market capitalization of $37.91 billion, a P/E ratio of 34.87, a PEG ratio of 5.77 and a beta of 1.01. 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 $640.00.

Martin Marietta Materials (NYSE:MLM) last posted 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 business 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 firm’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.76 earnings per share. Martin Marietta Materials has set its FY 2025 guidance at EPS. Analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

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

Wall Street Analyst Weigh In

A number of research firms have commented on MLM. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Martin Marietta Materials in a report on Saturday, September 27th. Wall Street Zen raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $525.00 price objective (up previously from $515.00) on shares of Martin Marietta Materials in a research note on Friday, August 8th. Bank of America lifted 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. Finally, DA Davidson increased their price target on Martin Marietta Materials from $625.00 to $700.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $622.47.

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.