20,893 Shares in Martin Marietta Materials, Inc. (NYSE:MLM) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 20,893 shares of the construction company's stock, valued at approximately $10,791,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Proficio Capital Partners LLC lifted its position in shares of Martin Marietta Materials by 54,277.3% in the fourth quarter. Proficio Capital Partners LLC now owns 918,432 shares of the construction company's stock valued at $474,370,000 after acquiring an additional 916,743 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Martin Marietta Materials by 76.2% in the third quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company's stock valued at $876,648,000 after purchasing an additional 704,460 shares during the period. JPMorgan Chase & Co. increased its position in Martin Marietta Materials by 23.3% during the third quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company's stock worth $1,441,663,000 after purchasing an additional 506,705 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Martin Marietta Materials during the 4th quarter worth $196,374,000. Finally, FMR LLC raised its position in shares of Martin Marietta Materials by 15.3% in the 3rd quarter. FMR LLC now owns 2,515,441 shares of the construction company's stock worth $1,353,936,000 after buying an additional 334,605 shares during the period. Institutional investors and hedge funds own 95.04% of the company's stock.

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Insider Buying and Selling at Martin Marietta Materials

In related news, SVP Michael J. Petro acquired 550 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $454.37 per share, for a total transaction of $249,903.50. Following the transaction, the senior vice president now owns 8,985 shares of the company's stock, valued at approximately $4,082,514.45. The trade was a 6.52 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Donald A. Mccunniff sold 1,332 shares of the firm's stock in a transaction 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 sale, the executive vice president now directly 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 disclosure for this sale can be found here. 0.68% of the stock is owned by corporate insiders.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock traded down $2.38 during trading hours on Tuesday, reaching $488.31. The company's stock had a trading volume of 361,074 shares, compared to its average volume of 461,378. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50. Martin Marietta Materials, Inc. has a one year low of $448.50 and a one year high of $633.23. The company's 50 day simple moving average is $510.82 and its 200 day simple moving average is $539.41. The stock has a market cap of $29.77 billion, a P/E ratio of 15.10, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89.

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 the consensus estimate 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, analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have 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 for the company in a research report on Monday, January 6th. HSBC raised shares of Martin Marietta Materials from a "hold" rating to a "buy" rating and set a $690.00 target price for the company in a research report on Wednesday, December 11th. Truist Financial decreased their price objective 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 decreased their target price 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. Finally, Stephens cut their price objective on shares of Martin Marietta Materials from $675.00 to $650.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus 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.