Independent Advisor Alliance Takes $394,000 Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Independent Advisor Alliance purchased a new position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 764 shares of the construction company's stock, valued at approximately $394,000.

Several other institutional investors also recently added to or reduced their stakes in MLM. Whipplewood Advisors LLC bought a new stake in shares of Martin Marietta Materials in the 4th quarter valued at about $32,000. Kestra Investment Management LLC purchased a new position in Martin Marietta Materials during the fourth quarter valued at approximately $35,000. R Squared Ltd bought a new position in Martin Marietta Materials in the fourth quarter worth approximately $41,000. Retirement Wealth Solutions LLC purchased a new stake in Martin Marietta Materials during the fourth quarter worth $41,000. Finally, Larson Financial Group LLC bought a new stake in Martin Marietta Materials during the 3rd quarter valued at $49,000. Hedge funds and other institutional investors own 95.04% of the company's stock.

Analyst Upgrades and Downgrades

MLM has been the subject of several recent research reports. Citigroup reduced their price target on Martin Marietta Materials from $701.00 to $600.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Truist Financial reduced their price target 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. HSBC raised Martin Marietta Materials from a "hold" rating to a "buy" rating and set a $690.00 price target for the company in a research report on Wednesday, December 11th. Hsbc Global Res raised Martin Marietta Materials from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. lowered Martin Marietta Materials from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $640.00 to $560.00 in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $628.64.

Remove Ads

Insiders Place Their Bets

In other Martin Marietta Materials news, SVP Michael J. Petro purchased 550 shares of the stock in a transaction on Tuesday, March 4th. The shares were bought at an average price 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 of the company's stock, valued at $4,082,514.45. This trade represents a 6.52 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, 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 in the company, valued at $1,673,425. This represents a 27.44 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by company insiders.

Martin Marietta Materials Stock Performance

Shares of MLM traded down $6.29 during mid-day trading on Friday, reaching $477.49. The company had a trading volume of 853,834 shares, compared to its average volume of 460,300. Martin Marietta Materials, Inc. has a 52-week low of $448.50 and a 52-week high of $633.23. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $29.11 billion, a P/E ratio of 14.77, a PEG ratio of 4.45 and a beta of 0.89. The stock has a 50 day moving average of $511.89 and a two-hundred day moving average of $539.58.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its 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 return on equity of 12.11% and a net margin of 30.54%. On average, analysts expect 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 declared 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 is Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a yield of 0.66%. Martin Marietta Materials's dividend payout ratio is currently 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.