Ilmarinen Mutual Pension Insurance Co Has $3.10 Million Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Ilmarinen Mutual Pension Insurance Co raised its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 50.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 6,000 shares of the construction company's stock after purchasing an additional 2,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co's holdings in Martin Marietta Materials were worth $3,099,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Raymond James decreased their target price on shares of Martin Marietta Materials from $630.00 to $600.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Wolfe Research upgraded Martin Marietta Materials from a "peer perform" rating to an "outperform" rating and set a $563.00 price target on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. lowered Martin Marietta Materials from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $640.00 to $560.00 in a research note on Wednesday, March 19th. Citigroup lowered their target price on 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, Morgan Stanley reduced their price target on shares of Martin Marietta Materials from $657.00 to $622.00 and set an "overweight" rating on the stock in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Martin Marietta Materials presently has a consensus rating of "Moderate Buy" and a consensus price target of $609.43.

Remove Ads

Insider Activity at Martin Marietta Materials

In other Martin Marietta Materials news, SVP Michael J. Petro bought 550 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was purchased at an average cost of $454.37 per share, with a total value of $249,903.50. Following the completion of the purchase, 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Donald A. Mccunniff sold 1,332 shares of the firm'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 sale, the executive vice president now directly owns 3,523 shares in the company, valued at approximately $1,673,425. This represents a 27.44 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company's stock.

Martin Marietta Materials Trading Up 2.6 %

Shares of Martin Marietta Materials stock traded up $12.42 on Friday, hitting $487.69. 205,978 shares of the company's stock traded hands, compared to its average volume of 486,137. The firm's 50-day moving average price is $491.34 and its two-hundred day moving average price is $534.10. 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 has a market capitalization of $29.74 billion, a PE ratio of 15.11, a price-to-earnings-growth ratio of 4.45 and a beta of 0.81. 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 data on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, beating analysts' consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. On average, research analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend was Monday, March 3rd. Martin Marietta Materials's payout ratio is 9.77%.

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.