Advisory Services Network LLC Purchases 92 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Advisory Services Network LLC grew its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 6.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,496 shares of the construction company’s stock after acquiring an additional 92 shares during the period. Advisory Services Network LLC’s holdings in Martin Marietta Materials were worth $773,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of Nova Scotia raised its position in Martin Marietta Materials by 4.0% during the 4th quarter. Bank of Nova Scotia now owns 8,162 shares of the construction company’s stock valued at $4,216,000 after purchasing an additional 312 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Martin Marietta Materials by 5.4% during the fourth quarter. Invesco Ltd. now owns 873,629 shares of the construction company’s stock valued at $451,229,000 after acquiring an additional 44,680 shares in the last quarter. Polymer Capital Management US LLC purchased a new stake in Martin Marietta Materials in the fourth quarter worth $276,000. Atika Capital Management LLC boosted its holdings in Martin Marietta Materials by 54.4% in the fourth quarter. Atika Capital Management LLC now owns 47,100 shares of the construction company’s stock valued at $24,327,000 after acquiring an additional 16,600 shares in the last quarter. Finally, Ilmarinen Mutual Pension Insurance Co increased its position in Martin Marietta Materials by 50.0% during the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 6,000 shares of the construction company’s stock valued at $3,099,000 after purchasing an additional 2,000 shares during the period. 95.04% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on MLM. Seaport Res Ptn raised shares of Martin Marietta Materials to a “strong-buy” rating in a research report on Friday, March 21st. UBS Group lowered shares of Martin Marietta Materials from a “buy” rating to a “neutral” rating and set a $491.00 price objective for the company. in a report on Monday, April 7th. Wolfe Research upgraded Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 target price on the stock in a report on Wednesday, January 8th. Morgan Stanley lowered their target price on Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Finally, Truist Financial reduced their price target on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Martin Marietta Materials presently has an average rating of “Moderate Buy” and a consensus price target of $609.43.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $503.24 on Tuesday. The company has a market capitalization of $30.68 billion, a price-to-earnings ratio of 15.57, a price-to-earnings-growth ratio of 4.45 and a beta of 0.81. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50. Martin Marietta Materials, Inc. has a one year low of $441.95 and a one year high of $633.23. The company’s 50-day moving average is $489.70 and its 200 day moving average is $533.50.

Martin Marietta Materials (NYSE:MLM) last announced 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 expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend was Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio is currently 9.77%.

Insider Activity

In other news, EVP Donald A. Mccunniff sold 1,332 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total transaction of $632,700.00. Following the completion of the transaction, the executive vice president now directly owns 3,523 shares of the company’s stock, valued at $1,673,425. The trade was a 27.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael J. Petro bought 550 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average price of $454.37 per share, for a total transaction of $249,903.50. Following the acquisition, the senior vice president now directly owns 8,985 shares of the company’s stock, valued at $4,082,514.45. The trade was a 6.52 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.68% of the company’s stock.

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.