Martin Marietta Materials, Inc. (NYSE:MLM) Shares Purchased by Ironsides Asset Advisors LLC

Ironsides Asset Advisors LLC lifted its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 171.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,260 shares of the construction company's stock after acquiring an additional 1,428 shares during the quarter. Martin Marietta Materials accounts for approximately 0.3% of Ironsides Asset Advisors LLC's investment portfolio, making the stock its 26th biggest holding. Ironsides Asset Advisors LLC's holdings in Martin Marietta Materials were worth $1,167,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Integrated Wealth Concepts LLC lifted its holdings in 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 purchasing an additional 19 shares in the last quarter. Checchi Capital Advisers LLC boosted its holdings in Martin Marietta Materials by 1.4% in the 4th quarter. Checchi Capital Advisers LLC now owns 1,336 shares of the construction company's stock worth $690,000 after buying an additional 19 shares during the last quarter. iA Global Asset Management Inc. boosted its holdings in Martin Marietta Materials by 3.6% in the 3rd quarter. iA Global Asset Management Inc. now owns 570 shares of the construction company's stock worth $307,000 after buying an additional 20 shares during the last quarter. Brooklyn Investment Group boosted its holdings in Martin Marietta Materials by 4.7% in the 4th quarter. Brooklyn Investment Group now owns 447 shares of the construction company's stock worth $231,000 after buying an additional 20 shares during the last quarter. Finally, Financial Counselors Inc. increased its stake in Martin Marietta Materials by 1.9% during the 3rd quarter. Financial Counselors Inc. now owns 1,123 shares of the construction company's stock worth $604,000 after buying an additional 21 shares in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

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Martin Marietta Materials Trading Down 1.3 %

Martin Marietta Materials stock traded down $6.36 during mid-day trading on Thursday, hitting $483.84. The company's stock had a trading volume of 464,757 shares, compared to its average volume of 458,464. The stock's fifty day moving average is $512.56 and its two-hundred day moving average is $539.97. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $29.50 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. Martin Marietta Materials, Inc. has a 1 year low of $448.50 and a 1 year high of $633.23.

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

Martin Marietta Materials Dividend Announcement

The company 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 $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Monday, March 3rd. Martin Marietta Materials's payout ratio is 9.77%.

Insiders Place Their Bets

In related news, EVP Donald A. Mccunniff sold 1,332 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total transaction of $632,700.00. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael J. Petro bought 550 shares of the company'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 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. 0.68% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Citigroup lowered their price target on Martin Marietta Materials from $701.00 to $600.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. StockNews.com cut shares of Martin Marietta Materials from a "hold" rating to a "sell" rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. lowered shares of Martin Marietta Materials from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $640.00 to $560.00 in a report on Wednesday. Truist Financial decreased their price target on shares of Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Finally, Loop Capital dropped their price objective on shares of 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $628.64.

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.