Benjamin Edwards Inc. Purchases 26 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Benjamin Edwards Inc. increased its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 78.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 59 shares of the construction company’s stock after purchasing an additional 26 shares during the quarter. Benjamin Edwards Inc.’s holdings in Martin Marietta Materials were worth $29,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Amalgamated Bank raised its stake in Martin Marietta Materials by 2.5% during the third quarter. Amalgamated Bank now owns 16,460 shares of the construction company’s stock worth $6,757,000 after acquiring an additional 397 shares in the last quarter. Simplicity Solutions LLC grew its holdings in shares of Martin Marietta Materials by 166.1% in the 4th quarter. Simplicity Solutions LLC now owns 2,725 shares of the construction company’s stock worth $1,360,000 after purchasing an additional 1,701 shares during the last quarter. Hudson Bay Capital Management LP acquired a new stake in shares of Martin Marietta Materials during the 3rd quarter worth about $3,284,000. Cerity Partners LLC lifted its holdings in Martin Marietta Materials by 199.8% during the 4th quarter. Cerity Partners LLC now owns 4,791 shares of the construction company’s stock valued at $2,390,000 after purchasing an additional 3,193 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Martin Marietta Materials by 1.5% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,739 shares of the construction company’s stock valued at $2,863,000 after purchasing an additional 85 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MLM. Morgan Stanley initiated coverage on Martin Marietta Materials in a report on Monday, January 8th. They issued an “overweight” rating and a $595.00 target price on the stock. Raymond James boosted their price objective on Martin Marietta Materials from $505.00 to $555.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. HSBC upgraded Martin Marietta Materials from a “reduce” rating to a “hold” rating and raised their target price for the company from $376.00 to $543.00 in a research note on Thursday, February 22nd. Citigroup upped their price target on shares of Martin Marietta Materials from $635.00 to $708.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Finally, Truist Financial increased their price objective on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $588.69.

Insider Activity

In related news, EVP Roselyn R. Bar sold 10,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 59,970 shares in the company, valued at approximately $36,179,301.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Sue W. Cole sold 1,724 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $543.48, for a total transaction of $936,959.52. Following the completion of the transaction, the director now directly owns 19,793 shares of the company’s stock, valued at approximately $10,757,099.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Roselyn R. Bar sold 10,000 shares of Martin Marietta Materials stock in a transaction that occurred on Thursday, March 14th. The shares were 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 owns 59,970 shares in the company, valued at $36,179,301.30. The disclosure for this sale can be found here. Insiders have sold 26,724 shares of company stock worth $16,033,760 in the last 90 days. Corporate insiders own 0.61% of the company’s stock.

Martin Marietta Materials Stock Up 0.2 %

Shares of NYSE MLM opened at $591.03 on Friday. The firm has a 50 day moving average price of $598.46 and a 200 day moving average price of $522.18. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.50 and a current ratio of 3.16. The stock has a market cap of $36.43 billion, a P/E ratio of 17.51, a P/E/G ratio of 2.80 and a beta of 0.95. Martin Marietta Materials, Inc. has a 52-week low of $384.61 and a 52-week high of $626.67.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.05. The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.31 billion. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. The firm’s revenue was down 7.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.16 EPS. Analysts expect that Martin Marietta Materials, Inc. will post 21.7 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 4th were given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Friday, March 1st. Martin Marietta Materials’s dividend payout ratio is currently 8.77%.

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.