Valeo Financial Advisors LLC Sells 31 Shares of Martin Marietta Materials, Inc. $MLM

Valeo Financial Advisors LLC cut its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 3.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 849 shares of the construction company’s stock after selling 31 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Martin Marietta Materials were worth $466,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wayfinding Financial LLC purchased a new position in Martin Marietta Materials during the first quarter worth about $29,000. Chilton Capital Management LLC purchased a new position in Martin Marietta Materials during the first quarter worth about $30,000. Zions Bancorporation National Association UT purchased a new position in Martin Marietta Materials during the first quarter worth about $30,000. IMA Advisory Services Inc. purchased a new position in Martin Marietta Materials during the first quarter worth about $40,000. Finally, Valley National Advisers Inc. boosted its stake in Martin Marietta Materials by 193.9% in the first quarter. Valley National Advisers Inc. now owns 97 shares of the construction company’s stock valued at $45,000 after acquiring an additional 64 shares during the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $636.08 on Thursday. The company’s fifty day moving average price is $613.59 and its 200-day moving average price is $560.80. The firm has a market capitalization of $38.36 billion, a price-to-earnings ratio of 35.28, a PEG ratio of 5.71 and a beta of 1.01. Martin Marietta Materials, Inc. has a one year low of $441.95 and a one year high of $640.00. 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 (NYSE:MLM) last issued its quarterly earnings results on Thursday, August 7th. The construction company reported $5.43 EPS for the quarter, missing analysts’ consensus estimates of $5.44 by ($0.01). The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company earned $4.76 EPS. Martin Marietta Materials has set its FY 2025 guidance at EPS. On average, equities research 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 dividend of $0.83 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. This is an increase 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 related news, Director Laree E. Perez sold 1,038 shares of the stock in a transaction 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 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wells Fargo & Company assumed coverage on shares of Martin Marietta Materials in a research note on Tuesday. They issued an “equal weight” rating and a $620.00 target price on the stock. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $525.00 target price (up from $515.00) on shares of Martin Marietta Materials in a research note on Friday, August 8th. DA Davidson boosted their target price on shares of Martin Marietta Materials from $625.00 to $700.00 and gave the company a “buy” rating in a research note on Monday, August 11th. Wall Street Zen upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Stifel Nicolaus upped their price target on shares of Martin Marietta Materials from $609.00 to $637.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. Two equities 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $621.69.

Martin Marietta Materials Company 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.