Martin Marietta Materials, Inc. (NYSE:MLM) Shares Bought by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC raised its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,305 shares of the construction company’s stock after acquiring an additional 80 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Martin Marietta Materials were worth $4,290,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Impact Capital Partners LLC acquired a new stake in shares of Martin Marietta Materials during the fourth quarter worth approximately $523,000. Lazard Freres Gestion S.A.S. acquired a new position in Martin Marietta Materials in the fourth quarter worth $16,833,000. HBK Sorce Advisory LLC boosted its holdings in Martin Marietta Materials by 16.2% in the fourth quarter. HBK Sorce Advisory LLC now owns 502 shares of the construction company’s stock worth $259,000 after purchasing an additional 70 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its holdings in Martin Marietta Materials by 6.5% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 13,123 shares of the construction company’s stock worth $6,827,000 after purchasing an additional 800 shares during the period. Finally, Avantax Advisory Services Inc. boosted its holdings in Martin Marietta Materials by 13.3% in the fourth quarter. Avantax Advisory Services Inc. now owns 1,319 shares of the construction company’s stock worth $681,000 after purchasing an additional 155 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. HSBC raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price objective for the company in a report on Wednesday, December 11th. Wolfe Research upgraded Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 target price on the stock in a research note on Wednesday, January 8th. StockNews.com cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th. Barclays cut their price objective on shares of Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Finally, Truist Financial cut their price objective on shares of Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $628.64.

Martin Marietta Materials Price Performance

NYSE:MLM opened at $477.49 on Monday. The business’s 50-day moving average price is $511.26 and its 200 day moving average price is $539.52. The firm has a market cap of $29.11 billion, a P/E ratio of 14.77, a PEG ratio of 4.45 and a beta of 0.89. Martin Marietta Materials, Inc. has a 52-week low of $448.50 and a 52-week high of $633.23. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. As a group, sell-side analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be paid a $0.79 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a yield of 0.66%. Martin Marietta Materials’s dividend payout ratio is currently 9.77%.

Insider Buying and Selling

In other Martin Marietta Materials news, EVP Donald A. Mccunniff sold 1,332 shares of Martin Marietta Materials stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total transaction of $632,700.00. Following the transaction, the executive vice president now owns 3,523 shares of the company’s stock, valued at $1,673,425. The trade was a 27.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Michael J. Petro bought 550 shares of the stock in a transaction on Tuesday, March 4th. The shares were acquired at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the purchase, the senior vice president now owns 8,985 shares in the company, valued at approximately $4,082,514.45. This represents a 6.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.68% of the stock is currently owned by company insiders.

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.