Axxcess Wealth Management LLC Raises Holdings in Martin Marietta Materials, Inc. $MLM

Axxcess Wealth Management LLC boosted its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 134.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,406 shares of the construction company’s stock after acquiring an additional 806 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Martin Marietta Materials were worth $772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in MLM. Wayfinding Financial LLC purchased a new stake in shares of Martin Marietta Materials during the first quarter valued at approximately $29,000. Chilton Capital Management LLC purchased a new stake in Martin Marietta Materials during the 1st quarter valued at $30,000. Zions Bancorporation National Association UT purchased a new stake in shares of Martin Marietta Materials during the first quarter worth about $30,000. IMA Advisory Services Inc. purchased a new stake in shares of Martin Marietta Materials during the first quarter worth about $40,000. Finally, Valley National Advisers Inc. boosted its holdings in shares of Martin Marietta Materials by 193.9% during the first quarter. Valley National Advisers Inc. now owns 97 shares of the construction company’s stock worth $45,000 after purchasing an additional 64 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Bank of America increased their target price on shares of Martin Marietta Materials from $577.00 to $643.00 and gave the stock a “neutral” rating in a report on Tuesday, August 5th. Wells Fargo & Company upgraded Martin Marietta Materials to a “hold” rating in a report on Wednesday, October 8th. Wall Street Zen raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. DA Davidson raised 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, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Martin Marietta Materials in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and a consensus price target of $621.69.

Insider Activity

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 shares were sold at an average price of $613.32, for a total transaction of $636,626.16. Following the completion of the transaction, the director directly owned 15,417 shares in the company, valued at approximately $9,455,554.44. This trade represents a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.69% of the company’s stock.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock opened at $625.84 on Friday. The company has a current ratio of 2.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $37.74 billion, a P/E ratio of 34.71, a P/E/G ratio of 5.66 and a beta of 1.01. The business has a fifty day simple moving average of $619.15 and a two-hundred day simple moving average of $568.15. 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 announced its quarterly earnings data on Thursday, August 7th. The construction company reported $5.43 EPS for the quarter, missing the consensus estimate of $5.44 by ($0.01). Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the prior year, the business posted $4.76 EPS. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. Martin Marietta Materials has set its FY 2025 guidance at EPS. On average, equities analysts forecast 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. Stockholders of record on Tuesday, September 2nd were issued a dividend of $0.83 per share. The ex-dividend date was Tuesday, September 2nd. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.79. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. Martin Marietta Materials’s dividend payout ratio (DPR) is 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.