Martin Marietta Materials, Inc. (NYSE:MLM) Shares Purchased by Rafferty Asset Management LLC

Rafferty Asset Management LLC boosted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 3.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,311 shares of the construction company’s stock after acquiring an additional 193 shares during the quarter. Rafferty Asset Management LLC’s holdings in Martin Marietta Materials were worth $2,743,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MLM. Lee Danner & Bass Inc. acquired a new stake in Martin Marietta Materials in the 4th quarter valued at approximately $28,000. Whipplewood Advisors LLC acquired a new position in shares of Martin Marietta Materials during the 4th quarter valued at $32,000. Kestra Investment Management LLC acquired a new position in shares of Martin Marietta Materials during the 4th quarter valued at $35,000. Hopwood Financial Services Inc. acquired a new position in shares of Martin Marietta Materials during the 4th quarter valued at $36,000. Finally, EverSource Wealth Advisors LLC increased its position 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 period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock opened at $568.38 on Tuesday. The stock has a market cap of $34.26 billion, a PE ratio of 17.58, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. The business has a fifty day simple moving average of $501.78 and a 200-day simple moving average of $527.68. 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 $441.95 and a 12 month high of $633.23.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Wednesday, April 30th. The construction company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.88 by $0.02. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. Martin Marietta Materials’s revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.93 earnings per share. On average, sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

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

Insider Transactions at Martin Marietta Materials

In other Martin Marietta Materials news, EVP Donald A. Mccunniff sold 1,332 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was 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 in the company, valued at $1,673,425. The trade was a 27.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Michael J. Petro bought 550 shares of the company’s stock in a transaction 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 completion of the transaction, the senior vice president now owns 8,985 shares in the company, valued at approximately $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 insiders.

Wall Street Analysts Forecast Growth

MLM has been the topic of several research analyst reports. UBS Group upgraded Martin Marietta Materials from a “neutral” rating to a “buy” rating and lifted their price target for the company from $548.00 to $634.00 in a research report on Friday. StockNews.com upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Tuesday, May 6th. Stifel Nicolaus lifted 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. Stephens lowered their price target 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. Finally, Raymond James lowered their price target on Martin Marietta Materials from $600.00 to $597.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 29th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $610.69.

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.