Procyon Advisors LLC Purchases 182 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Procyon Advisors LLC raised its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 8.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,381 shares of the construction company’s stock after acquiring an additional 182 shares during the quarter. Procyon Advisors LLC’s holdings in Martin Marietta Materials were worth $1,188,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MLM. Exchange Traded Concepts LLC acquired a new stake in Martin Marietta Materials during the 4th quarter worth approximately $27,000. MV Capital Management Inc. raised its holdings in Martin Marietta Materials by 144.4% during the 3rd quarter. MV Capital Management Inc. now owns 66 shares of the construction company’s stock worth $27,000 after purchasing an additional 39 shares during the last quarter. Covestor Ltd raised its holdings in Martin Marietta Materials by 84.6% during the 3rd quarter. Covestor Ltd now owns 72 shares of the construction company’s stock worth $30,000 after purchasing an additional 33 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC bought a new position in Martin Marietta Materials during the 3rd quarter worth approximately $30,000. Finally, Halpern Financial Inc. raised its holdings in Martin Marietta Materials by 418.8% during the 3rd quarter. Halpern Financial Inc. now owns 83 shares of the construction company’s stock worth $34,000 after purchasing an additional 67 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Insiders Place Their Bets

In other news, Director Sue W. Cole sold 1,724 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $543.48, for a total transaction of $936,959.52. Following the completion of the sale, the director now owns 19,793 shares of the company’s stock, valued at $10,757,099.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Martin Marietta Materials news, CEO C Howard Nye sold 15,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $604.26, for a total value of $9,063,900.00. Following the completion of the transaction, the chief executive officer now owns 134,640 shares in the company, valued at $81,357,566.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Sue W. Cole sold 1,724 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $543.48, for a total value of $936,959.52. Following the completion of the transaction, the director now owns 19,793 shares of the company’s stock, valued at approximately $10,757,099.64. The disclosure for this sale can be found here. Insiders sold a total of 26,724 shares of company stock valued at $16,033,760 over the last quarter. 0.61% of the stock is owned by corporate insiders.

Martin Marietta Materials Stock Performance

Martin Marietta Materials stock traded down $0.46 during midday trading on Thursday, reaching $611.40. The stock had a trading volume of 30,817 shares, compared to its average volume of 399,992. Martin Marietta Materials, Inc. has a 12 month low of $332.13 and a 12 month high of $617.08. The firm’s 50-day moving average price is $555.91 and its 200 day moving average price is $488.66. The firm has a market capitalization of $37.80 billion, a PE ratio of 32.49, a P/E/G ratio of 2.96 and a beta of 0.95. The company has a quick ratio of 2.50, a current ratio of 3.35 and a debt-to-equity ratio of 0.49.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Wednesday, February 14th. The construction company reported $4.63 earnings per share for the quarter, beating the consensus estimate of $3.96 by $0.67. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.62 billion. Martin Marietta Materials had a return on equity of 15.77% and a net margin of 17.25%. The company’s revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the business posted $3.04 earnings per share. As a group, research analysts predict that Martin Marietta Materials, Inc. will post 21.25 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Monday, March 4th will be paid a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.48%. The ex-dividend date is Friday, March 1st. Martin Marietta Materials’s dividend payout ratio is currently 15.72%.

Analyst Upgrades and Downgrades

MLM has been the subject of several research analyst reports. Truist Financial lifted their price objective on shares of Martin Marietta Materials from $550.00 to $610.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Stephens boosted their price target on shares of Martin Marietta Materials from $575.00 to $605.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Citigroup boosted their price target on shares of Martin Marietta Materials from $573.00 to $635.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Wolfe Research lowered shares of Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research note on Friday, March 8th. Finally, Stifel Nicolaus boosted their price target on shares of Martin Marietta Materials from $510.00 to $598.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $564.85.

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.