Marco Investment Management LLC Purchases Shares of 475 Martin Marietta Materials, Inc. (NYSE:MLM)

Marco Investment Management LLC bought a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) during the fourth quarter, HoldingsChannel reports. The firm bought 475 shares of the construction company’s stock, valued at approximately $237,000.

A number of other hedge funds and other institutional investors have also modified their holdings of MLM. Handelsbanken Fonder AB increased its position in shares of Martin Marietta Materials by 1.1% in the third quarter. Handelsbanken Fonder AB now owns 33,368 shares of the construction company’s stock valued at $13,697,000 after acquiring an additional 350 shares during the last quarter. Valeo Financial Advisors LLC boosted its holdings in shares of Martin Marietta Materials by 19.6% during the third quarter. Valeo Financial Advisors LLC now owns 1,235 shares of the construction company’s stock worth $507,000 after acquiring an additional 202 shares during the period. Commonwealth Equity Services LLC boosted its stake in shares of Martin Marietta Materials by 1.2% in the third quarter. Commonwealth Equity Services LLC now owns 7,900 shares of the construction company’s stock valued at $3,243,000 after buying an additional 97 shares during the period. Lederer & Associates Investment Counsel CA boosted its stake in shares of Martin Marietta Materials by 1.9% in the third quarter. Lederer & Associates Investment Counsel CA now owns 3,816 shares of the construction company’s stock valued at $1,566,000 after buying an additional 72 shares during the period. Finally, First Pacific Financial bought a new stake in shares of Martin Marietta Materials in the third quarter valued at approximately $71,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on MLM shares. The Goldman Sachs Group boosted their price target on Martin Marietta Materials from $642.00 to $737.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Stephens boosted their price objective on shares of Martin Marietta Materials from $575.00 to $605.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Raymond James boosted their price objective on shares of Martin Marietta Materials from $505.00 to $555.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Wolfe Research downgraded shares of Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research report on Friday, March 8th. Finally, Stifel Nicolaus upped their price target on shares of Martin Marietta Materials from $621.00 to $650.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Martin Marietta Materials presently has an average rating of “Moderate Buy” and an average price target of $588.69.

Martin Marietta Materials Stock Performance

NYSE MLM opened at $604.99 on Monday. The company has a market capitalization of $37.34 billion, a price-to-earnings ratio of 32.13, a PEG ratio of 2.93 and a beta of 0.96. Martin Marietta Materials, Inc. has a twelve month low of $345.03 and a twelve month high of $626.67. The stock has a fifty day simple moving average of $593.37 and a 200 day simple moving average of $517.16. The company has a quick ratio of 2.50, a current ratio of 3.35 and a debt-to-equity ratio of 0.49.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Wednesday, February 14th. The construction company reported $4.63 earnings per share for the quarter, beating analysts’ consensus estimates of $3.96 by $0.67. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.62 billion. Martin Marietta Materials had a return on equity of 15.77% and a net margin of 17.25%. Martin Marietta Materials’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the business posted $3.04 earnings per share. Sell-side analysts expect that Martin Marietta Materials, Inc. will post 21.3 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 4th were issued a $0.74 dividend. The ex-dividend date was Friday, March 1st. This represents a $2.96 dividend on an annualized basis and a yield of 0.49%. Martin Marietta Materials’s payout ratio is 15.72%.

Insider Buying and Selling at Martin Marietta Materials

In other Martin Marietta Materials news, CEO C Howard Nye sold 15,000 shares of the company’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 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 Securities & Exchange Commission, which is accessible through this hyperlink. In other Martin Marietta Materials news, CEO C Howard Nye sold 15,000 shares of the company’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 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Roselyn R. Bar sold 10,000 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 59,970 shares in the company, valued at approximately $36,179,301.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,724 shares of company stock valued at $16,033,760. 0.59% of the stock is currently owned by insiders.

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.