Mariner LLC Buys 2,560 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Mariner LLC lifted its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 34.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,943 shares of the construction company's stock after buying an additional 2,560 shares during the period. Mariner LLC's holdings in Martin Marietta Materials were worth $5,135,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in Martin Marietta Materials by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 7,174,183 shares of the construction company's stock valued at $3,705,466,000 after buying an additional 36,531 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Martin Marietta Materials by 23.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company's stock valued at $1,441,663,000 after acquiring an additional 506,705 shares in the last quarter. Principal Financial Group Inc. grew its position in Martin Marietta Materials by 11.7% during the 4th quarter. Principal Financial Group Inc. now owns 1,819,744 shares of the construction company's stock worth $939,898,000 after acquiring an additional 191,043 shares during the last quarter. Amundi increased its holdings in Martin Marietta Materials by 10.5% in the 4th quarter. Amundi now owns 1,562,146 shares of the construction company's stock worth $808,005,000 after purchasing an additional 148,065 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Martin Marietta Materials by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 1,472,411 shares of the construction company's stock valued at $758,499,000 after purchasing an additional 32,082 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Stock Down 0.6 %

Shares of Martin Marietta Materials stock traded down $3.04 during trading on Friday, hitting $506.21. The company's stock had a trading volume of 79,553 shares, compared to its average volume of 542,365. Martin Marietta Materials, Inc. has a 52 week low of $441.95 and a 52 week high of $633.23. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50. The company has a fifty day simple moving average of $484.04 and a two-hundred day simple moving average of $531.70. The company has a market capitalization of $30.68 billion, a PE ratio of 15.66, a P/E/G 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%. Equities research analysts predict 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 was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Monday, March 3rd. Martin Marietta Materials's payout ratio is currently 9.77%.

Insider Transactions at Martin Marietta Materials

In other news, SVP Michael J. Petro acquired 550 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the transaction, the senior vice president now directly 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Donald A. Mccunniff sold 1,332 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total transaction of $632,700.00. Following the completion of the transaction, the executive vice president now directly owns 3,523 shares of the company's stock, valued at $1,673,425. This represents a 27.44 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.68% of the company's stock.

Wall Street Analysts Forecast Growth

MLM has been the topic of a number of recent research reports. Wolfe Research upgraded shares of Martin Marietta Materials from a "peer perform" rating to an "outperform" rating and set a $563.00 price target on the stock in a report on Wednesday, January 8th. Stifel Nicolaus assumed coverage on Martin Marietta Materials in a research report on Tuesday, March 4th. They issued a "buy" rating and a $559.00 price target on the stock. Truist Financial lowered their price objective 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. JPMorgan Chase & Co. lowered Martin Marietta Materials from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $640.00 to $560.00 in a research note on Wednesday, March 19th. Finally, 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 report on Thursday, February 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $599.62.

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.