CANADA LIFE ASSURANCE Co Increases Position in Martin Marietta Materials, Inc. (NYSE:MLM)

CANADA LIFE ASSURANCE Co grew its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 9.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,909 shares of the construction company's stock after buying an additional 3,041 shares during the period. CANADA LIFE ASSURANCE Co owned 0.06% of Martin Marietta Materials worth $18,524,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Checchi Capital Advisers LLC increased its stake in Martin Marietta Materials by 1.4% during the 4th quarter. Checchi Capital Advisers LLC now owns 1,336 shares of the construction company's stock valued at $690,000 after purchasing an additional 19 shares in the last quarter. Brooklyn Investment Group increased its position in shares of Martin Marietta Materials by 4.7% during the 4th quarter. Brooklyn Investment Group now owns 447 shares of the construction company's stock valued at $231,000 after purchasing an additional 20 shares during the last quarter. OLD National Bancorp IN raised its position in Martin Marietta Materials by 4.5% in the fourth quarter. OLD National Bancorp IN now owns 483 shares of the construction company's stock worth $249,000 after acquiring an additional 21 shares during the period. Signaturefd LLC grew its holdings in Martin Marietta Materials by 2.6% during the fourth quarter. Signaturefd LLC now owns 835 shares of the construction company's stock valued at $431,000 after purchasing an additional 21 shares during the period. Finally, LexAurum Advisors LLC increased its holdings in Martin Marietta Materials by 3.8% in the 4th quarter. LexAurum Advisors LLC now owns 633 shares of the construction company's stock worth $327,000 after acquiring an additional 23 shares in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Trading Down 0.8 %

Shares of NYSE:MLM traded down $4.25 during trading on Friday, hitting $505.00. The company had a trading volume of 327,001 shares, compared to its average volume of 486,249. The stock has a market cap of $30.60 billion, a price-to-earnings ratio of 15.62, a price-to-earnings-growth ratio of 4.45 and a beta of 0.81. 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 company has a fifty day simple moving average of $484.04 and a two-hundred day simple moving average of $531.70. Martin Marietta Materials, Inc. has a one year low of $441.95 and a one year high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, topping 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, equities analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were given a dividend of $0.79 per share. The ex-dividend date was Monday, March 3rd. This represents a $3.16 annualized dividend and a dividend yield of 0.63%. Martin Marietta Materials's dividend payout ratio (DPR) is 9.77%.

Insider Activity

In related news, EVP Donald A. Mccunniff sold 1,332 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at $1,673,425. This represents a 27.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael J. Petro bought 550 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were purchased at an average cost of $454.37 per share, with a total value of $249,903.50. Following the completion of the transaction, the senior vice president now owns 8,985 shares in the company, valued at $4,082,514.45. This represents a 6.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.68% of the company's stock.

Wall Street Analyst Weigh In

MLM has been the subject of a number of analyst reports. Raymond James reduced their price objective on shares of Martin Marietta Materials from $630.00 to $600.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. Truist Financial decreased their price target on Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. JPMorgan Chase & Co. cut Martin Marietta Materials from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $640.00 to $560.00 in a research report on Wednesday, March 19th. 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 report on Thursday, February 13th. Finally, Seaport Res Ptn raised shares of Martin Marietta Materials to a "strong-buy" rating in a report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $599.62.

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.