HighTower Advisors LLC Has $24.64 Million Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

HighTower Advisors LLC lessened its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 3.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,705 shares of the construction company’s stock after selling 1,558 shares during the period. HighTower Advisors LLC owned about 0.08% of Martin Marietta Materials worth $24,640,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Franklin Street Advisors Inc. NC increased its position in Martin Marietta Materials by 15.5% during the 4th quarter. Franklin Street Advisors Inc. NC now owns 25,242 shares of the construction company’s stock worth $13,037,000 after purchasing an additional 3,384 shares in the last quarter. Sanctuary Advisors LLC grew its stake in shares of Martin Marietta Materials by 18.5% during the third quarter. Sanctuary Advisors LLC now owns 8,220 shares of the construction company’s stock worth $4,914,000 after buying an additional 1,286 shares during the last quarter. RMR Wealth Builders increased its holdings in shares of Martin Marietta Materials by 431.3% during the fourth quarter. RMR Wealth Builders now owns 2,391 shares of the construction company’s stock worth $1,235,000 after buying an additional 1,941 shares in the last quarter. Benjamin Edwards Inc. lifted its stake in shares of Martin Marietta Materials by 2,448.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 1,376 shares of the construction company’s stock valued at $741,000 after acquiring an additional 1,322 shares during the last quarter. Finally, InTrack Investment Management Inc boosted its holdings in shares of Martin Marietta Materials by 33.9% during the 4th quarter. InTrack Investment Management Inc now owns 3,446 shares of the construction company’s stock valued at $1,784,000 after acquiring an additional 872 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Insider Buying and Selling at Martin Marietta Materials

In other news, SVP Michael J. Petro bought 550 shares of Martin Marietta Materials stock in a transaction dated Tuesday, March 4th. The stock was bought 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 directly owns 8,985 shares in the company, valued at approximately $4,082,514.45. This represents a 6.52 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Donald A. Mccunniff sold 1,332 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total value of $632,700.00. Following the transaction, the executive vice president now directly owns 3,523 shares in the company, valued at approximately $1,673,425. This trade represents a 27.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

Martin Marietta Materials Stock Up 2.8 %

Shares of NYSE:MLM opened at $478.12 on Friday. Martin Marietta Materials, Inc. has a 1 year low of $448.50 and a 1 year high of $633.23. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. The business’s 50-day moving average is $514.06 and its 200-day moving average is $540.54. The company has a market capitalization of $29.15 billion, a price-to-earnings ratio of 14.79, a P/E/G ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. Equities research analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have commented on MLM shares. Barclays dropped their target price on Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Morgan Stanley dropped their price objective on shares of Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Truist Financial reduced their target price on shares of Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Loop Capital dropped their price target on shares of Martin Marietta Materials from $680.00 to $645.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, Stifel Nicolaus initiated coverage on shares of Martin Marietta Materials in a report on Tuesday, March 4th. They set a “buy” rating and a $559.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $634.36.

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.