D.A. Davidson & CO. Raises Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

D.A. Davidson & CO. increased its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 10.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,155 shares of the construction company’s stock after purchasing an additional 964 shares during the quarter. D.A. Davidson & CO.’s holdings in Martin Marietta Materials were worth $5,067,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Coldstream Capital Management Inc. boosted its stake in Martin Marietta Materials by 5.7% during the fourth quarter. Coldstream Capital Management Inc. now owns 902 shares of the construction company’s stock worth $450,000 after buying an additional 49 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Martin Marietta Materials by 1.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 37,882 shares of the construction company’s stock worth $18,900,000 after buying an additional 500 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its stake in Martin Marietta Materials by 64.2% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,681 shares of the construction company’s stock worth $839,000 after buying an additional 657 shares during the last quarter. Norges Bank acquired a new position in Martin Marietta Materials during the fourth quarter worth $308,705,000. Finally, ING Groep NV boosted its stake in Martin Marietta Materials by 543.9% during the fourth quarter. ING Groep NV now owns 49,961 shares of the construction company’s stock worth $24,926,000 after buying an additional 42,202 shares during the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MLM has been the topic of several recent analyst reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $600.00 price target (up previously from $530.00) on shares of Martin Marietta Materials in a research note on Friday, March 22nd. Raymond James upped their price target on Martin Marietta Materials from $505.00 to $555.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. StockNews.com lowered Martin Marietta Materials from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. Truist Financial increased their target price on Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Finally, Wolfe Research lowered Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research note on Friday, March 8th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $610.27.

Martin Marietta Materials Trading Down 1.3 %

MLM opened at $573.78 on Thursday. Martin Marietta Materials, Inc. has a one year low of $389.90 and a one year high of $626.67. The company has a market cap of $35.37 billion, a P/E ratio of 17.00, a PEG ratio of 2.74 and a beta of 0.95. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.41 and a current ratio of 3.16. The business’s 50-day simple moving average is $599.75 and its 200-day simple moving average is $538.46.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.05. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.31 billion. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The firm’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.16 EPS. As a group, equities research analysts expect that Martin Marietta Materials, Inc. will post 21.88 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 3rd will be issued a $0.74 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.52%. Martin Marietta Materials’s dividend payout ratio (DPR) is 8.77%.

Insider Transactions at Martin Marietta Materials

In other Martin Marietta Materials news, EVP Roselyn R. Bar sold 10,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $603.29, for a total transaction of $6,032,900.00. Following the completion of the sale, the executive vice president now directly owns 59,970 shares in the company, valued at $36,179,301.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Roselyn R. Bar sold 10,000 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $603.29, for a total value of $6,032,900.00. Following the completion of the transaction, the executive vice president now owns 59,970 shares of the company’s stock, valued at $36,179,301.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO C Howard Nye sold 15,000 shares of the stock in a transaction dated Tuesday, March 5th. The shares were 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 directly owns 134,640 shares of the company’s stock, valued at approximately $81,357,566.40. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

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.