Martin Marietta Materials, Inc. (NYSE:MLM) Stake Boosted by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. boosted its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 3,228.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 932 shares of the construction company’s stock after buying an additional 904 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Martin Marietta Materials were worth $465,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Amalgamated Bank grew its position in Martin Marietta Materials by 2.5% during the 3rd quarter. Amalgamated Bank now owns 16,460 shares of the construction company’s stock worth $6,757,000 after purchasing an additional 397 shares in the last quarter. Simplicity Solutions LLC lifted its stake in Martin Marietta Materials by 166.1% in the 4th quarter. Simplicity Solutions LLC now owns 2,725 shares of the construction company’s stock worth $1,360,000 after acquiring an additional 1,701 shares in the last quarter. Hudson Bay Capital Management LP purchased a new stake in Martin Marietta Materials in the 3rd quarter worth about $3,284,000. Cerity Partners LLC boosted its position in Martin Marietta Materials by 199.8% during the 4th quarter. Cerity Partners LLC now owns 4,791 shares of the construction company’s stock worth $2,390,000 after acquiring an additional 3,193 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Martin Marietta Materials by 1.5% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,739 shares of the construction company’s stock valued at $2,863,000 after acquiring an additional 85 shares in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Down 0.4 %

MLM opened at $596.64 on Thursday. Martin Marietta Materials, Inc. has a twelve month low of $389.90 and a twelve month high of $626.67. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.41 and a current ratio of 3.16. The business has a 50 day moving average price of $600.80 and a 200 day moving average price of $526.10. The firm has a market cap of $36.78 billion, a P/E ratio of 17.68, a price-to-earnings-growth ratio of 2.80 and a beta of 0.95.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.05. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. Martin Marietta Materials’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.16 earnings per share. Research analysts forecast that Martin Marietta Materials, Inc. will post 21.7 EPS for the current year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 4th were issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend was Friday, March 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is 8.77%.

Insider Activity

In related news, CEO C Howard Nye sold 15,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $604.26, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO C Howard Nye sold 15,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 134,640 shares in the company, valued at $81,357,566.40. The sale was disclosed in a filing with the SEC, which is available at 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 transaction, the executive vice president now owns 59,970 shares of the company’s stock, valued at $36,179,301.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,724 shares of company stock valued at $16,033,760. 0.68% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Citigroup raised their price target on shares of Martin Marietta Materials from $635.00 to $708.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Truist Financial lifted their target price on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Wolfe Research downgraded shares of Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research note on Friday, March 8th. Raymond James lifted their price objective on Martin Marietta Materials from $505.00 to $555.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $600.00 target price (up from $530.00) on shares of Martin Marietta Materials in a research report on Friday, March 22nd. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $598.17.

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.