Martin Marietta Materials, Inc. (NYSE:MLM) Shares Purchased by First Manhattan CO. LLC.

First Manhattan CO. LLC. grew its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 0.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,617 shares of the construction company’s stock after purchasing an additional 196 shares during the period. First Manhattan CO. LLC. owned 0.06% of Martin Marietta Materials worth $17,880,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Lee Danner & Bass Inc. acquired a new stake in Martin Marietta Materials in the fourth quarter valued at $28,000. Whipplewood Advisors LLC acquired a new position in shares of Martin Marietta Materials in the 4th quarter valued at $32,000. Kestra Investment Management LLC purchased a new stake in Martin Marietta Materials in the 4th quarter worth about $35,000. Hopwood Financial Services Inc. purchased a new position in shares of Martin Marietta Materials during the 4th quarter valued at $36,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Martin Marietta Materials by 91.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company’s stock valued at $37,000 after acquiring an additional 34 shares during the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MLM. Barclays decreased their target price on Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Seaport Res Ptn upgraded Martin Marietta Materials to a “strong-buy” rating in a research report on Friday, March 21st. Stephens cut their price target on shares of Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Truist Financial decreased their price objective on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, Stifel Nicolaus upped their target price on Martin Marietta Materials from $559.00 to $609.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and a consensus price target of $599.69.

Insider Buying and Selling

In related news, EVP Donald A. Mccunniff sold 1,332 shares of Martin Marietta Materials stock in a transaction 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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Michael J. Petro purchased 550 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the purchase, the senior vice president now directly owns 8,985 shares in the company, valued at $4,082,514.45. This trade represents a 6.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.68% of the company’s stock.

Martin Marietta Materials Price Performance

NYSE:MLM opened at $540.85 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $633.23. The company has a 50 day moving average price of $489.91 and a 200-day moving average price of $529.62. The firm has a market cap of $32.60 billion, a price-to-earnings ratio of 16.73, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Wednesday, April 30th. The construction company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.02. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. Martin Marietta Materials’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.93 earnings per share. Equities research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend was Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio is currently 18.20%.

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.