Amundi Has $808.01 Million Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Amundi grew its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 10.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,562,146 shares of the construction company's stock after purchasing an additional 148,065 shares during the period. Amundi owned about 2.56% of Martin Marietta Materials worth $808,005,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Whipplewood Advisors LLC acquired a new stake in Martin Marietta Materials during the fourth quarter worth approximately $32,000. First Personal Financial Services acquired a new stake in shares of Martin Marietta Materials during the 3rd quarter worth $33,000. Kestra Investment Management LLC acquired a new stake in shares of Martin Marietta Materials during the 4th quarter worth $35,000. Retirement Wealth Solutions LLC bought a new position in shares of Martin Marietta Materials in the fourth quarter worth $41,000. Finally, R Squared Ltd acquired a new position in Martin Marietta Materials in the fourth quarter valued at about $41,000. 95.04% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Michael J. Petro purchased 550 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average price of $454.37 per share, with a total value of $249,903.50. Following the completion of the acquisition, the senior vice president now owns 8,985 shares in the company, valued at $4,082,514.45. This trade represents a 6.52 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 value of $632,700.00. Following the sale, the executive vice president now directly owns 3,523 shares of the company's stock, valued at $1,673,425. This represents a 27.44 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.68% of the company's stock.

Martin Marietta Materials Stock Performance

Shares of MLM opened at $461.02 on Friday. Martin Marietta Materials, Inc. has a 1 year low of $448.50 and a 1 year high of $633.23. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. The stock's fifty day moving average price is $518.87 and its two-hundred day moving average price is $543.18. The firm 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.

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Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, beating the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. On average, equities research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MLM. Loop Capital cut their target price on Martin Marietta Materials from $680.00 to $645.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Truist Financial dropped their price objective on Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. BNP Paribas downgraded Martin Marietta Materials from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Hsbc Global Res raised shares of Martin Marietta Materials from a "hold" rating to a "strong-buy" rating in a report on Wednesday, December 11th. Finally, Stifel Nicolaus initiated coverage on Martin Marietta Materials in a report on Tuesday. They set a "buy" rating and a $559.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Martin Marietta Materials has an average rating of "Moderate Buy" and an average target price of $634.36.

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.

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