Mackenzie Financial Corp Sells 418 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Mackenzie Financial Corp reduced its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 7.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 4,877 shares of the construction company’s stock after selling 418 shares during the period. Mackenzie Financial Corp’s holdings in Martin Marietta Materials were worth $2,433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Pinnacle Bancorp Inc. acquired a new position in Martin Marietta Materials in the 4th quarter valued at about $26,000. Exchange Traded Concepts LLC bought a new stake in shares of Martin Marietta Materials during the fourth quarter worth approximately $27,000. MV Capital Management Inc. grew its position in shares of Martin Marietta Materials by 144.4% in the third quarter. MV Capital Management Inc. now owns 66 shares of the construction company’s stock valued at $27,000 after purchasing an additional 39 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in shares of Martin Marietta Materials during the fourth quarter worth approximately $34,000. Finally, Covestor Ltd lifted its holdings in Martin Marietta Materials by 84.6% during 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. 95.04% of the stock is owned by institutional investors.

Insider Activity at Martin Marietta Materials

In related news, CEO C Howard Nye sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $604.26, for a total value of $9,063,900.00. Following the completion of the transaction, the chief executive officer now owns 134,640 shares of the company’s stock, valued at approximately $81,357,566.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Roselyn R. Bar sold 10,000 shares of Martin Marietta Materials stock in a transaction dated Thursday, March 14th. The stock was 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 of the company’s stock, valued at $36,179,301.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO C Howard Nye sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $604.26, for a total value of $9,063,900.00. Following the completion of the transaction, the chief executive officer now directly owns 134,640 shares of the company’s stock, valued at approximately $81,357,566.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,724 shares of company stock valued at $16,033,760. 0.59% of the stock is owned by insiders.

Martin Marietta Materials Stock Up 1.5 %

Shares of MLM opened at $584.32 on Tuesday. The firm has a 50 day simple moving average of $588.42 and a two-hundred day simple moving average of $512.48. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.35 and a quick ratio of 2.50. Martin Marietta Materials, Inc. has a one year low of $343.79 and a one year high of $626.67. The company has a market cap of $36.06 billion, a P/E ratio of 31.03, a P/E/G ratio of 2.79 and a beta of 0.96.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Wednesday, February 14th. The construction company reported $4.63 EPS for the quarter, topping analysts’ consensus estimates of $3.96 by $0.67. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations 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 revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.04 EPS. Research analysts forecast that Martin Marietta Materials, Inc. will post 21.24 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 4th were paid a $0.74 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.51%. Martin Marietta Materials’s payout ratio is currently 15.72%.

Wall Street Analyst Weigh In

A number of research analysts have commented on MLM shares. Wolfe Research lowered Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a report on Friday, March 8th. Raymond James raised their price target on shares of Martin Marietta Materials from $505.00 to $555.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Stifel Nicolaus boosted 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. Morgan Stanley began coverage on shares of Martin Marietta Materials in a report on Monday, January 8th. They set an “overweight” rating and a $595.00 target price on the stock. Finally, Stephens boosted their price target on Martin Marietta Materials from $575.00 to $605.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $588.69.

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.