Texas Bank & Trust Co Makes New Investment in Martin Marietta Materials, Inc. (NYSE:MLM)

Texas Bank & Trust Co bought a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) in the 4th quarter, HoldingsChannel reports. The fund bought 1,100 shares of the construction company’s stock, valued at approximately $568,000.

A number of other hedge funds also recently made changes to their positions in MLM. Lee Danner & Bass Inc. purchased a new stake in Martin Marietta Materials during the fourth quarter worth about $28,000. Whipplewood Advisors LLC bought a new position in shares of Martin Marietta Materials during the 4th quarter valued at approximately $32,000. Kestra Investment Management LLC purchased a new stake in shares of Martin Marietta Materials during the 4th quarter worth approximately $35,000. Hopwood Financial Services Inc. purchased a new stake in shares of Martin Marietta Materials during the 4th quarter worth approximately $36,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Martin Marietta Materials by 91.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company’s stock worth $37,000 after purchasing an additional 34 shares during the period. 95.04% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on MLM. Barclays dropped their price objective on 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. Stifel Nicolaus upped their price target 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. Truist Financial cut their price target on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. JPMorgan Chase & Co. lowered Martin Marietta Materials from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $640.00 to $560.00 in a report on Wednesday, March 19th. Finally, UBS Group raised shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and upped their price objective for the company from $548.00 to $634.00 in a report on Friday. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and an average price target of $610.69.

Martin Marietta Materials Stock Up 2.1%

MLM stock opened at $564.51 on Friday. The stock has a 50-day simple moving average of $499.71 and a two-hundred day simple moving average of $528.22. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $633.23. The firm has a market capitalization of $34.03 billion, a PE ratio of 17.46, a PEG ratio of 4.45 and a beta of 0.89. 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 (NYSE:MLM) last issued its quarterly earnings data on Wednesday, April 30th. The construction company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.88 by $0.02. The company 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 for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.93 earnings per share. On average, equities analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.56%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 18.20%.

Insider Buying and Selling

In other news, EVP Donald A. Mccunniff sold 1,332 shares of the stock in a transaction on 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 $1,673,425. This represents a 27.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael J. Petro bought 550 shares of Martin Marietta Materials stock in a transaction that occurred on Tuesday, March 4th. The stock was 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 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 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.