Congress Wealth Management LLC DE Increases Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Congress Wealth Management LLC DE grew its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 0.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 61,821 shares of the construction company’s stock after purchasing an additional 432 shares during the period. Congress Wealth Management LLC DE’s holdings in Martin Marietta Materials were worth $31,931,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in MLM. Vanguard Group Inc. boosted its stake in Martin Marietta Materials by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 7,174,183 shares of the construction company’s stock worth $3,705,466,000 after purchasing an additional 36,531 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Martin Marietta Materials by 23.3% in the third quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock worth $1,441,663,000 after buying an additional 506,705 shares in the last quarter. FMR LLC grew its holdings in shares of Martin Marietta Materials by 15.3% during the third quarter. FMR LLC now owns 2,515,441 shares of the construction company’s stock valued at $1,353,936,000 after buying an additional 334,605 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Martin Marietta Materials by 11.7% during 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 in the last quarter. Finally, Amundi raised its holdings in Martin Marietta Materials by 10.5% in the 4th quarter. Amundi now owns 1,562,146 shares of the construction company’s stock worth $808,005,000 after acquiring an additional 148,065 shares during the last quarter. 95.04% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Michael J. Petro acquired 550 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $454.37 per share, with a total value of $249,903.50. Following 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 purchase was disclosed in a filing with the SEC, which is available through this link. Also, EVP Donald A. Mccunniff sold 1,332 shares of the firm’s 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 transaction, the executive vice president now owns 3,523 shares of the company’s stock, valued at approximately $1,673,425. The trade was a 27.44 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have commented on MLM. Citigroup cut their target price on Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Stifel Nicolaus initiated coverage on Martin Marietta Materials in a report on Tuesday, March 4th. They issued a “buy” rating and a $559.00 price objective for the company. Barclays lowered their target price on shares of Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Loop Capital reduced their price target on shares of Martin Marietta Materials from $680.00 to $645.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, Wolfe Research upgraded shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price objective on the stock in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $628.64.

Martin Marietta Materials Trading Down 1.3 %

NYSE:MLM opened at $477.49 on Monday. The firm has a market capitalization of $29.11 billion, a price-to-earnings ratio of 14.77, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. The business has a fifty day moving average price of $511.26 and a 200-day moving average price of $539.52. Martin Marietta Materials, Inc. has a one year low of $448.50 and a one year high of $633.23.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, beating the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. Sell-side analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.66%. The ex-dividend date is Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.77%.

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.