Invesco Ltd. Has $451.23 Million Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Invesco Ltd. boosted its stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 5.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 873,629 shares of the construction company's stock after buying an additional 44,680 shares during the quarter. Invesco Ltd. owned approximately 1.43% of Martin Marietta Materials worth $451,229,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Integrated Wealth Concepts LLC lifted its holdings in shares of Martin Marietta Materials by 2.5% during the third quarter. Integrated Wealth Concepts LLC now owns 782 shares of the construction company's stock valued at $421,000 after acquiring an additional 19 shares during the period. Checchi Capital Advisers LLC increased its position in shares of 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 worth $690,000 after purchasing an additional 19 shares in the last quarter. iA Global Asset Management Inc. lifted its holdings in Martin Marietta Materials by 3.6% during the 3rd quarter. iA Global Asset Management Inc. now owns 570 shares of the construction company's stock valued at $307,000 after purchasing an additional 20 shares during the last quarter. Brooklyn Investment Group boosted its position in Martin Marietta Materials by 4.7% in the fourth quarter. Brooklyn Investment Group now owns 447 shares of the construction company's stock valued at $231,000 after buying an additional 20 shares in the last quarter. Finally, OLD National Bancorp IN grew its stake in Martin Marietta Materials by 4.5% during the fourth quarter. OLD National Bancorp IN now owns 483 shares of the construction company's stock worth $249,000 after buying an additional 21 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.

Remove Ads

Insider Activity at Martin Marietta Materials

In other Martin Marietta Materials news, EVP Donald A. Mccunniff sold 1,332 shares of the company's stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 3,523 shares of the company's stock, valued at approximately $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 accessible through the SEC website. Also, SVP Michael J. Petro bought 550 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was purchased at an average price of $454.37 per share, for a total transaction of $249,903.50. Following the completion of the acquisition, the senior vice president now owns 8,985 shares of the company's stock, valued at approximately $4,082,514.45. This trade 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 corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Truist Financial cut their target price on shares of Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Raymond James cut their price objective on Martin Marietta Materials from $630.00 to $600.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Loop Capital decreased their target price on Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Wolfe Research upgraded Martin Marietta Materials from a "peer perform" rating to an "outperform" rating and set a $563.00 target price for the company in a research note on Wednesday, January 8th. Finally, Stifel Nicolaus began coverage on shares of Martin Marietta Materials in a research report on Tuesday, March 4th. They set a "buy" rating and a $559.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $609.43.

Martin Marietta Materials Trading Up 1.3 %

MLM stock traded up $6.56 during midday trading on Monday, reaching $498.25. The company's stock had a trading volume of 86,436 shares, compared to its average volume of 488,030. The business's 50-day simple moving average is $490.42 and its 200-day simple moving average is $533.75. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a 52 week low of $441.95 and a 52 week high of $633.23. The stock has a market cap of $30.38 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 4.45 and a beta of 0.81.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. As a group, sell-side analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

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

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.