Robbins Farley Has $4.75 Million Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Robbins Farley boosted its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 0.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,520 shares of the construction company’s stock after purchasing an additional 45 shares during the quarter. Martin Marietta Materials comprises about 2.8% of Robbins Farley’s portfolio, making the stock its 6th biggest holding. Robbins Farley’s holdings in Martin Marietta Materials were worth $4,750,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Schear Investment Advisers LLC lifted its position in shares of Martin Marietta Materials by 1.2% during the 4th quarter. Schear Investment Advisers LLC now owns 1,647 shares of the construction company’s stock valued at $822,000 after acquiring an additional 20 shares during the period. Independence Bank of Kentucky lifted its position in shares of Martin Marietta Materials by 16.9% during the 4th quarter. Independence Bank of Kentucky now owns 152 shares of the construction company’s stock valued at $76,000 after acquiring an additional 22 shares during the period. Global Retirement Partners LLC lifted its position in shares of Martin Marietta Materials by 5.0% during the 4th quarter. Global Retirement Partners LLC now owns 460 shares of the construction company’s stock valued at $228,000 after acquiring an additional 22 shares during the period. Spreng Capital Management Inc. lifted its position in shares of Martin Marietta Materials by 3.1% during the 4th quarter. Spreng Capital Management Inc. now owns 775 shares of the construction company’s stock valued at $387,000 after acquiring an additional 23 shares during the period. Finally, Park Place Capital Corp lifted its position in shares of Martin Marietta Materials by 11.3% during the 4th quarter. Park Place Capital Corp now owns 247 shares of the construction company’s stock valued at $123,000 after acquiring an additional 25 shares during the period. 95.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MLM has been the subject of several recent analyst reports. HSBC upgraded Martin Marietta Materials from a “reduce” rating to a “hold” rating and upped their price objective for the stock from $376.00 to $543.00 in a research report on Thursday, February 22nd. JPMorgan Chase & Co. restated a “neutral” rating and set a $600.00 price objective (up from $530.00) on shares of Martin Marietta Materials in a research report on Friday, March 22nd. Raymond James upped their price objective on Martin Marietta Materials from $505.00 to $555.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. The Goldman Sachs Group upped their price objective on Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Truist Financial upped their price objective on Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. 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 presently has a consensus rating of “Moderate Buy” and an average target price of $588.69.

Martin Marietta Materials Trading Down 1.9 %

Shares of MLM stock traded down $11.24 on Friday, hitting $575.89. The company had a trading volume of 1,076,995 shares, compared to its average volume of 367,666. The firm has a market cap of $35.54 billion, a P/E ratio of 30.60, a P/E/G ratio of 2.85 and a beta of 0.96. The stock’s 50-day moving average is $587.38 and its two-hundred day moving average is $509.94. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.50 and a current ratio of 3.35. Martin Marietta Materials, Inc. has a twelve month low of $343.79 and a twelve month high of $626.67.

Martin Marietta Materials (NYSE:MLM) last issued 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 company had revenue of $1.61 billion during 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 business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.04 earnings per share. On average, equities research analysts anticipate that Martin Marietta Materials, Inc. will post 21.23 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 4th were paid a $0.74 dividend. The ex-dividend date was Friday, March 1st. This represents a $2.96 annualized dividend and a dividend yield of 0.51%. Martin Marietta Materials’s payout ratio is 15.72%.

Insider Activity

In other news, CEO C Howard Nye sold 15,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 134,640 shares of the company’s stock, valued at $81,357,566.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Sue W. Cole sold 1,724 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $543.48, for a total transaction of $936,959.52. Following the sale, the director now owns 19,793 shares in the company, valued at approximately $10,757,099.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO C Howard Nye sold 15,000 shares of the stock in a transaction that occurred 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 approximately $81,357,566.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,724 shares of company stock valued at $16,033,760. Company insiders own 0.61% of the company’s stock.

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.