Martin Marietta Materials, Inc. (NYSE:MLM) Shares Purchased by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd increased its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 58.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 644 shares of the construction company’s stock after buying an additional 237 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Martin Marietta Materials were worth $321,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of MLM. Pinnacle Bancorp Inc. bought a new position in Martin Marietta Materials in the 4th quarter worth about $26,000. MV Capital Management Inc. grew its position in Martin Marietta Materials by 144.4% in the 3rd quarter. MV Capital Management Inc. now owns 66 shares of the construction company’s stock worth $27,000 after purchasing an additional 39 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in Martin Marietta Materials in the 4th quarter worth about $27,000. Covestor Ltd grew its position in Martin Marietta Materials by 84.6% in the 3rd quarter. Covestor Ltd now owns 72 shares of the construction company’s stock worth $30,000 after purchasing an additional 33 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group grew its position in Martin Marietta Materials by 74.3% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 61 shares of the construction company’s stock worth $30,000 after purchasing an additional 26 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Insider Transactions at Martin Marietta Materials

In other news, Director Sue W. Cole sold 1,724 shares of the stock in a transaction 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 transaction, the director now owns 19,793 shares in the company, valued at approximately $10,757,099.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Sue W. Cole sold 1,724 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $543.48, for a total value of $936,959.52. Following the transaction, the director now directly owns 19,793 shares in the company, valued at approximately $10,757,099.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO C Howard Nye sold 15,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $604.26, for a total transaction 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 $81,357,566.40. The disclosure for this sale can be found here. Insiders have sold a total of 26,724 shares of company stock worth $16,033,760 in the last 90 days. 0.59% of the stock is owned by insiders.

Martin Marietta Materials Stock Down 0.4 %

MLM stock traded down $2.57 during midday trading on Wednesday, reaching $591.82. The company had a trading volume of 331,710 shares, compared to its average volume of 408,041. Martin Marietta Materials, Inc. has a 1 year low of $343.79 and a 1 year high of $626.67. The company has a current ratio of 3.35, a quick ratio of 2.50 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $36.53 billion, a P/E ratio of 31.60, a PEG ratio of 2.83 and a beta of 0.96. The company has a 50 day moving average of $589.77 and a two-hundred day moving average of $513.61.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, February 14th. The construction company reported $4.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.96 by $0.67. Martin Marietta Materials had a net margin of 17.25% and a return on equity of 15.77%. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the prior year, the firm earned $3.04 EPS. The company’s revenue was up 8.9% compared to the same quarter last year. On average, equities research analysts expect that Martin Marietta Materials, Inc. will post 21.24 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 4th were paid a dividend of $0.74 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $2.96 annualized dividend and a dividend yield of 0.50%. Martin Marietta Materials’s dividend payout ratio (DPR) is 15.72%.

Analysts Set New Price Targets

Several research firms have recently issued reports on MLM. Morgan Stanley began coverage on shares of Martin Marietta Materials in a report on Monday, January 8th. They issued an “overweight” rating and a $595.00 price objective for the company. HSBC upgraded shares of Martin Marietta Materials from a “reduce” rating to a “hold” rating and increased their price objective for the company from $376.00 to $543.00 in a report on Thursday, February 22nd. StockNews.com cut shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Stifel Nicolaus increased their price objective on shares of Martin Marietta Materials from $621.00 to $650.00 and gave the company a “buy” rating in a report on Monday, April 15th. Finally, Truist Financial increased their price objective on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $588.69.

Martin Marietta Materials 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.