Martin Marietta Materials, Inc. (NYSE:MLM) Shares Acquired by Wealthfront Advisers LLC

Wealthfront Advisers LLC increased its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 2,260.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,101 shares of the construction company's stock after acquiring an additional 92,030 shares during the quarter. Wealthfront Advisers LLC owned about 0.16% of Martin Marietta Materials worth $49,636,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MLM. Farther Finance Advisors LLC increased its stake in Martin Marietta Materials by 11.6% in the third quarter. Farther Finance Advisors LLC now owns 317 shares of the construction company's stock valued at $171,000 after purchasing an additional 33 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of 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 acquiring an additional 704,460 shares in the last quarter. CWA Asset Management Group LLC purchased a new stake in shares of Martin Marietta Materials in the third quarter valued at about $719,000. Assetmark Inc. boosted its holdings in shares of Martin Marietta Materials by 27.0% in the third quarter. Assetmark Inc. now owns 25,633 shares of the construction company's stock valued at $13,797,000 after acquiring an additional 5,455 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. boosted its holdings in shares of Martin Marietta Materials by 8.1% in the third quarter. Mesirow Financial Investment Management Inc. now owns 615 shares of the construction company's stock valued at $331,000 after acquiring an additional 46 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Performance

Shares of NYSE MLM opened at $467.37 on Tuesday. The stock has a fifty day moving average price of $517.81 and a two-hundred day moving average price of $542.72. Martin Marietta Materials, Inc. has a 1 year low of $448.50 and a 1 year high of $633.23. The firm has a market cap of $28.50 billion, a P/E ratio of 14.46, a PEG ratio of 4.45 and a beta of 0.89. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50.

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Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, beating 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%. Research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

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 issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Monday, March 3rd. Martin Marietta Materials's payout ratio is 9.77%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Truist Financial decreased their price objective on shares of Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Morgan Stanley decreased their price objective on shares of Martin Marietta Materials from $657.00 to $622.00 and set an "overweight" rating on the stock in a report on Tuesday, December 17th. Loop Capital decreased their price objective on shares of Martin Marietta Materials from $680.00 to $645.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. BNP Paribas downgraded shares of Martin Marietta Materials from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 10th. Finally, HSBC raised shares of Martin Marietta Materials from a "hold" rating to a "buy" rating and set a $690.00 price target on the stock in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $634.36.

Insider Activity

In related news, SVP Michael J. Petro acquired 550 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were 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 of the company's stock, valued at approximately $4,082,514.45. This trade represents a 6.52 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Donald A. Mccunniff sold 1,332 shares of Martin Marietta Materials stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total transaction of $632,700.00. Following the sale, the executive vice president now directly owns 3,523 shares of the company's stock, valued at $1,673,425. This trade represents a 27.44 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is owned by company insiders.

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.

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