Geode Capital Management LLC Raises Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Geode Capital Management LLC grew its holdings in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 2.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,472,411 shares of the construction company's stock after buying an additional 32,082 shares during the quarter. Geode Capital Management LLC owned about 2.41% of Martin Marietta Materials worth $758,499,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Lee Danner & Bass Inc. acquired a new position in shares of Martin Marietta Materials during the 4th quarter worth $28,000. Whipplewood Advisors LLC acquired a new position in Martin Marietta Materials during the fourth quarter worth about $32,000. Kestra Investment Management LLC purchased a new position in Martin Marietta Materials in the fourth quarter valued at about $35,000. Hopwood Financial Services Inc. acquired a new stake in shares of Martin Marietta Materials during the 4th quarter valued at approximately $36,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Martin Marietta Materials by 91.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company's stock worth $37,000 after acquiring an additional 34 shares in the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MLM has been the subject of several research analyst reports. BNP Paribas downgraded Martin Marietta Materials from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Truist Financial dropped their price target 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. Citigroup lowered their price objective on shares of 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. Hsbc Global Res upgraded shares of Martin Marietta Materials from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, December 11th. Finally, Loop Capital reduced their price target on shares of Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Martin Marietta Materials presently has an average rating of "Moderate Buy" and a consensus price target of $609.43.

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Insider Buying and Selling at Martin Marietta Materials

In other news, SVP Michael J. Petro acquired 550 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the acquisition, the senior vice president now directly owns 8,985 shares in the company, valued at approximately $4,082,514.45. This represents a 6.52 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at 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 value of $632,700.00. Following the completion of the transaction, the executive vice president now owns 3,523 shares in the company, valued at $1,673,425. The trade was 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 Trading Down 2.3 %

Shares of NYSE:MLM traded down $10.92 during midday trading on Monday, reaching $459.78. The company's stock had a trading volume of 298,253 shares, compared to its average volume of 482,528. The firm has a market cap of $28.03 billion, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 4.45 and a beta of 0.81. The business has a 50 day moving average price of $500.39 and a 200 day moving average price of $537.21. Martin Marietta Materials, Inc. has a 1 year low of $430.00 and a 1 year high of $633.23. 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 (NYSE:MLM - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, beating 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%. Research analysts forecast 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. Shareholders of record on Monday, March 3rd were paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date was Monday, March 3rd. Martin Marietta Materials's dividend payout ratio is currently 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.