Martin Marietta Materials, Inc. (NYSE:MLM) Shares Purchased by Ameriprise Financial Inc.

Ameriprise Financial Inc. increased its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 3.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 125,554 shares of the construction company’s stock after buying an additional 3,820 shares during the quarter. Ameriprise Financial Inc. owned about 0.21% of Martin Marietta Materials worth $64,849,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in Martin Marietta Materials by 23.3% during the third quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock valued at $1,441,663,000 after purchasing an additional 506,705 shares during the period. Nordea Investment Management AB grew its holdings in Martin Marietta Materials by 6.5% during the fourth quarter. Nordea Investment Management AB now owns 4,918 shares of the construction company’s stock worth $2,564,000 after acquiring an additional 302 shares during the period. Fulton Bank N.A. purchased a new position in Martin Marietta Materials during the fourth quarter valued at approximately $217,000. Fortitude Family Office LLC lifted its holdings in Martin Marietta Materials by 60.3% in the fourth quarter. Fortitude Family Office LLC now owns 101 shares of the construction company’s stock valued at $52,000 after acquiring an additional 38 shares during the period. Finally, Baker Tilly Wealth Management LLC boosted its position in Martin Marietta Materials by 20.5% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 859 shares of the construction company’s stock worth $444,000 after purchasing an additional 146 shares in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MLM. Seaport Res Ptn upgraded shares of Martin Marietta Materials to a “strong-buy” rating in a research note on Friday, March 21st. JPMorgan Chase & Co. lowered Martin Marietta Materials from an “overweight” rating to a “neutral” rating and cut their price target for the company from $640.00 to $560.00 in a research note on Wednesday, March 19th. Stifel Nicolaus upped their price target on Martin Marietta Materials from $559.00 to $609.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Loop Capital cut their price objective on Martin Marietta Materials from $645.00 to $615.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st. Finally, Stephens decreased their target price on 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. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $599.69.

Martin Marietta Materials Stock Performance

NYSE MLM opened at $541.61 on Friday. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $633.23. The firm has a market capitalization of $32.65 billion, a P/E ratio of 16.75, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. The stock’s fifty day moving average is $491.51 and its two-hundred day moving average is $529.49. 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 (NYSE:MLM) last released its quarterly earnings data on Wednesday, April 30th. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.02. The firm had revenue of $1.35 billion during 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 was up 8.2% compared to the same quarter last year. During the same period last year, the business earned $1.93 earnings per share. On average, research analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were issued a $0.79 dividend. 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 presently 18.20%.

Insider Buying and Selling

In related news, EVP Donald A. Mccunniff sold 1,332 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total transaction of $632,700.00. Following the completion of the sale, the executive vice president now directly owns 3,523 shares of the company’s stock, valued at approximately $1,673,425. This trade represents a 27.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael J. Petro bought 550 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was bought at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the transaction, 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 ownership of the stock. The disclosure for this purchase can be found here. 0.69% of the stock is currently owned by company insiders.

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.