Delta Investment Management LLC Acquires New Shares in Martin Marietta Materials, Inc. $MLM

Delta Investment Management LLC acquired a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 400 shares of the construction company’s stock, valued at approximately $220,000.

Other large investors have also recently added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new position in Martin Marietta Materials during the first quarter worth $29,000. Chilton Capital Management LLC acquired a new position in Martin Marietta Materials during the first quarter worth $30,000. Zions Bancorporation National Association UT acquired a new position in Martin Marietta Materials during the first quarter worth $30,000. IMA Advisory Services Inc. acquired a new position in Martin Marietta Materials during the first quarter worth $40,000. Finally, Salomon & Ludwin LLC lifted its stake in Martin Marietta Materials by 156.7% during the second quarter. Salomon & Ludwin LLC now owns 77 shares of the construction company’s stock worth $43,000 after purchasing an additional 47 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on MLM. Stephens restated an “overweight” rating and set a $700.00 price target on shares of Martin Marietta Materials in a research note on Monday, August 4th. Stifel Nicolaus upped their price target on Martin Marietta Materials from $609.00 to $637.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. Royal Bank Of Canada restated a “sector perform” rating and set a $525.00 price target (up from $515.00) on shares of Martin Marietta Materials in a research note on Friday, August 8th. DA Davidson upped their price target on Martin Marietta Materials from $625.00 to $700.00 and gave the stock a “buy” rating in a research note on Monday, August 11th. Finally, Wells Fargo & Company upgraded Martin Marietta Materials to a “hold” rating in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $628.56.

Insider Buying and Selling

In related news, Director Laree E. Perez sold 1,038 shares of the stock in a transaction 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 transaction, the director owned 15,417 shares of the company’s stock, valued at $9,455,554.44. This represents a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.68% of the stock is owned by company insiders.

Martin Marietta Materials Stock Performance

NYSE:MLM opened at $616.43 on Tuesday. The firm has a market capitalization of $37.18 billion, a PE ratio of 34.19, a price-to-earnings-growth ratio of 5.61 and a beta of 1.01. The business’s fifty day moving average price is $620.65 and its 200 day moving average price is $575.84. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.35 and a quick ratio of 1.21. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $665.18.

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 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 business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $4.76 EPS. Martin Marietta Materials has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd were issued a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 0.5%. 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. Martin Marietta Materials’s dividend 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.