HBK Sorce Advisory LLC Buys 70 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

HBK Sorce Advisory LLC lifted its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 16.2% during the 4th quarter, HoldingsChannel reports. The firm owned 502 shares of the construction company’s stock after acquiring an additional 70 shares during the period. HBK Sorce Advisory LLC’s holdings in Martin Marietta Materials were worth $259,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Whipplewood Advisors LLC bought a new stake in shares of Martin Marietta Materials during the 4th quarter valued at approximately $32,000. Kestra Investment Management LLC bought a new stake in shares of Martin Marietta Materials during the 4th quarter valued at approximately $35,000. Hopwood Financial Services Inc. bought a new stake in shares of Martin Marietta Materials during the 4th quarter valued at approximately $36,000. EverSource Wealth Advisors LLC grew its holdings in shares of Martin Marietta Materials by 91.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company’s stock valued at $37,000 after purchasing an additional 34 shares during the last quarter. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Martin Marietta Materials during the 4th quarter valued at approximately $41,000. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Stock Up 2.8 %

Martin Marietta Materials stock opened at $478.12 on Friday. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a 12-month low of $448.50 and a 12-month high of $633.23. The firm’s fifty day moving average is $514.06 and its 200 day moving average is $540.70. The company has a market capitalization of $29.15 billion, a PE ratio of 14.79, a PEG ratio of 4.45 and a beta of 0.89.

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

Martin Marietta Materials Dividend Announcement

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

Insiders Place Their Bets

In other Martin Marietta Materials news, SVP Michael J. Petro acquired 550 shares of the stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price 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 approximately $4,082,514.45. This represents a 6.52 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Donald A. Mccunniff sold 1,332 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total transaction of $632,700.00. Following the transaction, the executive vice president now owns 3,523 shares in the company, 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. Corporate insiders own 0.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Citigroup decreased their price target on shares of Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Stephens cut their target price on shares of Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Wolfe Research upgraded shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 target price on the stock in a research report on Wednesday, January 8th. Stifel Nicolaus assumed coverage on shares of Martin Marietta Materials in a research report on Tuesday, March 4th. They set a “buy” rating and a $559.00 target price on the stock. Finally, Raymond James cut their target price on shares of Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $634.36.

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.