First Manhattan CO. LLC. Has $17.88 Million Position in Martin Marietta Materials, Inc. (NYSE:MLM)

First Manhattan CO. LLC. increased its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 0.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 34,617 shares of the construction company’s stock after acquiring an additional 196 shares during the period. First Manhattan CO. LLC.’s holdings in Martin Marietta Materials were worth $17,880,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Lee Danner & Bass Inc. bought a new position in Martin Marietta Materials during the fourth quarter worth about $28,000. Whipplewood Advisors LLC acquired a new stake in shares of Martin Marietta Materials in the 4th quarter valued at about $32,000. Kestra Investment Management LLC acquired a new stake in Martin Marietta Materials in the 4th quarter valued at approximately $35,000. Hopwood Financial Services Inc. acquired a new position in Martin Marietta Materials during the fourth quarter worth $36,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Martin Marietta Materials by 91.9% in the 4th 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 in the last quarter. Institutional investors own 95.04% of the company’s stock.

Insider Transactions at Martin Marietta Materials

In other Martin Marietta Materials news, SVP Michael J. Petro bought 550 shares of Martin Marietta Materials stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $454.37 per share, for a total transaction of $249,903.50. Following the completion of the acquisition, the senior vice president now directly owns 8,985 shares of the company’s stock, valued at approximately $4,082,514.45. This trade represents a 6.52 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Donald A. Mccunniff sold 1,332 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total transaction of $632,700.00. Following the transaction, the executive vice president now owns 3,523 shares in the company, valued at $1,673,425. This represents a 27.44 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $540.85 on Friday. The stock’s 50-day moving average is $489.91 and its two-hundred day moving average is $529.62. Martin Marietta Materials, Inc. has a 1 year low of $441.95 and a 1 year high of $633.23. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50. The firm has a market cap of $32.60 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Wednesday, April 30th. The construction company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.02. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the business posted $1.93 earnings per share. Analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend was Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio is currently 18.20%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Raymond James cut their price objective on Martin Marietta Materials from $600.00 to $597.00 and set an “outperform” rating for the company in a research report on Tuesday, April 29th. Stephens dropped their price objective on Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Stifel Nicolaus boosted their target price on shares of Martin Marietta Materials from $559.00 to $609.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Truist Financial dropped their price objective on shares of Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, UBS Group downgraded Martin Marietta Materials from a “buy” rating to a “neutral” rating and set a $491.00 price objective for the company. in a research report on Monday, April 7th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and an average price target of $599.69.

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.