Martin Marietta Materials, Inc. (NYSE:MLM) Shares Bought by Ameriprise Financial Inc.

Ameriprise Financial Inc. lifted its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 3.1% during the 4th quarter, Holdings Channel reports. The firm owned 125,554 shares of the construction company’s stock after buying an additional 3,820 shares during the period. Ameriprise Financial Inc.’s holdings in Martin Marietta Materials were worth $64,849,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Proficio Capital Partners LLC lifted its holdings in Martin Marietta Materials by 54,277.3% during the 4th quarter. Proficio Capital Partners LLC now owns 918,432 shares of the construction company’s stock worth $474,370,000 after buying an additional 916,743 shares in the last quarter. Norges Bank purchased a new position in Martin Marietta Materials in the fourth quarter valued at $306,863,000. JPMorgan Chase & Co. grew its stake in Martin Marietta Materials by 23.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock worth $1,441,663,000 after purchasing an additional 506,705 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Martin Marietta Materials during the 4th quarter worth about $196,374,000. Finally, Alkeon Capital Management LLC raised its position in Martin Marietta Materials by 46.6% in the 4th quarter. Alkeon Capital Management LLC now owns 771,198 shares of the construction company’s stock valued at $398,324,000 after purchasing an additional 245,000 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

Shares of MLM opened at $541.61 on Friday. The firm has a 50-day simple moving average of $491.51 and a 200-day simple moving average of $529.49. 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 company has a market capitalization of $32.65 billion, a price-to-earnings ratio of 16.75, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $633.23.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, April 30th. The construction company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.02. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the company posted $1.93 earnings per share. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities research analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The company also recently announced 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 0.58%. The ex-dividend date of this dividend was Monday, March 3rd. Martin Marietta Materials’s payout ratio is 18.20%.

Insider Transactions at Martin Marietta Materials

In other Martin Marietta Materials news, SVP Michael J. Petro bought 550 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was acquired 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 represents a 6.52 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Donald A. Mccunniff sold 1,332 shares of the company’s stock in a transaction on 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 directly 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. Company insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Barclays lowered their price objective on Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Stephens decreased their price objective on shares of 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. StockNews.com raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Tuesday. Seaport Res Ptn raised Martin Marietta Materials to a “strong-buy” rating in a research report on Friday, March 21st. Finally, UBS Group downgraded Martin Marietta Materials from a “buy” rating to a “neutral” rating and set a $491.00 price objective on the stock. in a report on Monday, April 7th. Four equities research 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $599.69.

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.