Lederer & Associates Investment Counsel CA Purchases 379 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Lederer & Associates Investment Counsel CA raised its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 11.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,563 shares of the construction company’s stock after buying an additional 379 shares during the period. Martin Marietta Materials comprises 1.2% of Lederer & Associates Investment Counsel CA’s portfolio, making the stock its 28th biggest position. Lederer & Associates Investment Counsel CA’s holdings in Martin Marietta Materials were worth $1,704,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Martin Marietta Materials by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 7,174,183 shares of the construction company’s stock worth $3,705,466,000 after buying an additional 36,531 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Martin Marietta Materials by 23.3% during the third quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock valued at $1,441,663,000 after acquiring an additional 506,705 shares during the period. Principal Financial Group Inc. boosted its holdings in Martin Marietta Materials by 11.7% in the fourth quarter. Principal Financial Group Inc. now owns 1,819,744 shares of the construction company’s stock valued at $939,898,000 after acquiring an additional 191,043 shares during the last quarter. Amundi increased its position in Martin Marietta Materials by 10.5% in the fourth quarter. Amundi now owns 1,562,146 shares of the construction company’s stock worth $808,005,000 after purchasing an additional 148,065 shares during the period. Finally, Geode Capital Management LLC increased its position in Martin Marietta Materials by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 1,472,411 shares of the construction company’s stock worth $758,499,000 after purchasing an additional 32,082 shares during the period. Institutional investors own 95.04% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Donald A. Mccunniff sold 1,332 shares of Martin Marietta Materials stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total value of $632,700.00. Following the completion of the transaction, the executive vice president now owns 3,523 shares of the company’s stock, valued at $1,673,425. This trade represents a 27.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Michael J. Petro bought 550 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the completion of the acquisition, the senior vice president now owns 8,985 shares in the company, valued at $4,082,514.45. This trade represents a 6.52% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

MLM has been the subject of several analyst reports. Stifel Nicolaus lifted their price target on shares of Martin Marietta Materials from $559.00 to $609.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Truist Financial dropped their target price on shares of Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Raymond James cut their price target on Martin Marietta Materials from $600.00 to $597.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 29th. UBS Group raised Martin Marietta Materials from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $548.00 to $634.00 in a research note on Friday, May 16th. Finally, 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 report on Thursday, February 13th. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $610.69.

Martin Marietta Materials Trading Down 2.9%

NYSE MLM opened at $550.80 on Thursday. Martin Marietta Materials, Inc. has a 52 week low of $441.95 and a 52 week 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 stock’s 50 day moving average price is $512.93 and its two-hundred day moving average price is $526.69. The stock has a market capitalization of $33.20 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Wednesday, April 30th. The construction company reported $1.90 EPS for the quarter, topping the consensus estimate 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 net margin of 30.54% and a return on equity of 12.11%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.93 earnings per share. As a group, analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be issued a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $3.16 annualized dividend and a yield of 0.57%. Martin Marietta Materials’s payout ratio is presently 18.20%.

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.