Raymond James Financial Inc. Invests $196.37 Million in Martin Marietta Materials, Inc. (NYSE:MLM)

Raymond James Financial Inc. purchased a new position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 380,202 shares of the construction company's stock, valued at approximately $196,374,000. Raymond James Financial Inc. owned 0.62% of Martin Marietta Materials at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Integrated Wealth Concepts LLC increased its stake in shares of Martin Marietta Materials by 2.5% in the third quarter. Integrated Wealth Concepts LLC now owns 782 shares of the construction company's stock worth $421,000 after purchasing an additional 19 shares in the last quarter. Checchi Capital Advisers LLC grew its stake in Martin Marietta Materials by 1.4% during the fourth quarter. Checchi Capital Advisers LLC now owns 1,336 shares of the construction company's stock valued at $690,000 after acquiring an additional 19 shares in the last quarter. iA Global Asset Management Inc. grew its stake in Martin Marietta Materials by 3.6% during the third quarter. iA Global Asset Management Inc. now owns 570 shares of the construction company's stock valued at $307,000 after acquiring an additional 20 shares in the last quarter. Brooklyn Investment Group grew its stake in Martin Marietta Materials by 4.7% during the fourth quarter. Brooklyn Investment Group now owns 447 shares of the construction company's stock valued at $231,000 after acquiring an additional 20 shares in the last quarter. Finally, Financial Counselors Inc. grew its stake in Martin Marietta Materials by 1.9% during the third quarter. Financial Counselors Inc. now owns 1,123 shares of the construction company's stock valued at $604,000 after acquiring an additional 21 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors.

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Insider Activity at Martin Marietta Materials

In other news, EVP Donald A. Mccunniff sold 1,332 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total value of $632,700.00. Following the completion of the sale, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Michael J. Petro purchased 550 shares of Martin Marietta Materials stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average price of $454.37 per share, with a total value of $249,903.50. Following 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 disclosure for this purchase can be found here. 0.68% of the stock is currently owned by company insiders.

Martin Marietta Materials Trading Down 3.1 %

Shares of Martin Marietta Materials stock traded down $14.89 during trading on Friday, hitting $461.02. The stock had a trading volume of 983,189 shares, compared to its average volume of 447,821. 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 simple moving average is $518.87 and its 200-day simple moving average is $543.22. The stock has a market cap of $28.11 billion, a PE ratio of 14.26, a PEG ratio of 4.45 and a beta of 0.89. 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 (NYSE:MLM - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 earnings per share 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 expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be issued a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a yield of 0.69%. Martin Marietta Materials's payout ratio is 9.77%.

Wall Street Analysts Forecast Growth

MLM has been the subject of several research analyst reports. Barclays cut their target price on shares of Martin Marietta Materials from $645.00 to $600.00 and set an "overweight" rating for the company in a research note on Thursday, February 13th. Morgan Stanley cut their target price on shares of Martin Marietta Materials from $657.00 to $622.00 and set an "overweight" rating for the company in a research note on Tuesday, December 17th. HSBC raised shares of Martin Marietta Materials from a "hold" rating to a "buy" rating and set a $690.00 price objective for the company in a research note on Wednesday, December 11th. Citigroup dropped their price objective on shares of Martin Marietta Materials from $701.00 to $600.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Finally, Stephens dropped their price objective on shares of Martin Marietta Materials from $675.00 to $650.00 and set an "overweight" rating for the company in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $634.36.

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.