NewEdge Advisors LLC Buys 286 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

NewEdge Advisors LLC increased its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 13.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,462 shares of the construction company’s stock after purchasing an additional 286 shares during the quarter. NewEdge Advisors LLC’s holdings in Martin Marietta Materials were worth $1,272,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Lee Danner & Bass Inc. acquired a new position in Martin Marietta Materials during the 4th quarter worth $28,000. Whipplewood Advisors LLC acquired a new stake in shares of Martin Marietta Materials in the 4th quarter valued at $32,000. Kestra Investment Management LLC bought a new stake in shares of Martin Marietta Materials during the fourth quarter worth $35,000. Hopwood Financial Services Inc. acquired a new position in shares of Martin Marietta Materials during the fourth quarter valued at $36,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Martin Marietta Materials by 91.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company’s stock valued at $37,000 after acquiring an additional 34 shares during the last quarter. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Stock Performance

MLM stock opened at $498.96 on Thursday. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $633.23. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. The firm has a market cap of $30.24 billion, a PE ratio of 15.43, a P/E/G ratio of 4.45 and a beta of 0.81. The business’s 50-day moving average price is $484.39 and its two-hundred day moving average price is $531.76.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 earnings per share 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%. As a group, research analysts forecast 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 was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.77%.

Insider Transactions at Martin Marietta Materials

In related news, SVP Michael J. Petro bought 550 shares of Martin Marietta Materials stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost of $454.37 per share, with a total value of $249,903.50. Following the purchase, the senior vice president now owns 8,985 shares in the company, valued at approximately $4,082,514.45. This trade represents a 6.52 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Donald A. Mccunniff sold 1,332 shares of the stock in a transaction dated 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 owns 3,523 shares of the company’s stock, valued at approximately $1,673,425. This trade represents a 27.44 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is owned by insiders.

Analysts Set New Price Targets

MLM has been the subject of several recent research reports. Stifel Nicolaus started coverage on Martin Marietta Materials in a report on Tuesday, March 4th. They set a “buy” rating and a $559.00 price objective for the company. Loop Capital dropped their price target on shares of Martin Marietta Materials from $645.00 to $615.00 and set a “buy” rating for the company in a research note on Tuesday, April 1st. JPMorgan Chase & Co. cut shares of Martin Marietta Materials from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $640.00 to $560.00 in a research note on Wednesday, March 19th. Seaport Res Ptn raised shares of Martin Marietta Materials to a “strong-buy” rating in a report on Friday, March 21st. Finally, Truist Financial cut their price target on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Martin Marietta Materials currently has an average rating of “Moderate Buy” and a consensus price target of $599.62.

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.