Resona Asset Management Co. Ltd. Takes $9.49 Million Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Resona Asset Management Co. Ltd. bought a new position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 18,301 shares of the construction company's stock, valued at approximately $9,486,000.

Other hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. lifted its stake in Martin Marietta Materials by 76.2% during the 3rd 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 during the period. Benjamin Edwards Inc. raised its holdings in shares of Martin Marietta Materials by 2,448.1% during the third quarter. Benjamin Edwards Inc. now owns 1,376 shares of the construction company's stock valued at $741,000 after purchasing an additional 1,322 shares during the last quarter. Integrated Wealth Concepts LLC boosted its holdings in Martin Marietta Materials by 2.5% in the third quarter. Integrated Wealth Concepts LLC now owns 782 shares of the construction company's stock worth $421,000 after purchasing an additional 19 shares during the last quarter. IHT Wealth Management LLC boosted its holdings in Martin Marietta Materials by 13.9% in the third quarter. IHT Wealth Management LLC now owns 468 shares of the construction company's stock worth $252,000 after purchasing an additional 57 shares during the last quarter. Finally, Quarry LP bought a new position in shares of Martin Marietta Materials during the 3rd quarter valued at $87,000. Hedge funds and other institutional investors own 95.04% of the company's stock.

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Insider Buying and Selling

In other Martin Marietta Materials news, SVP Michael J. Petro acquired 550 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were bought at an average price of $454.37 per share, with a total value of $249,903.50. Following the transaction, the senior vice president now directly owns 8,985 shares of the company's stock, valued at $4,082,514.45. The trade was a 6.52 % increase in their position. The purchase was disclosed in a document filed 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 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 owns 3,523 shares of the company's stock, valued at approximately $1,673,425. This trade 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 currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MLM has been the topic of several research reports. Stephens dropped their target price on Martin Marietta Materials from $675.00 to $650.00 and set an "overweight" rating on the stock in a research report on Thursday, February 13th. Barclays reduced their target price on shares of Martin Marietta Materials from $645.00 to $600.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. Citigroup dropped their price target 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. Stifel Nicolaus began coverage on Martin Marietta Materials in a research report on Tuesday, March 4th. They set a "buy" rating and a $559.00 target price on the stock. Finally, Morgan Stanley reduced their price target on Martin Marietta Materials from $657.00 to $622.00 and set an "overweight" rating for the company in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $609.43.

Martin Marietta Materials Price Performance

Shares of MLM stock traded up $4.40 on Friday, reaching $479.67. The company's stock had a trading volume of 181,841 shares, compared to its average volume of 486,006. The company has a market capitalization of $29.25 billion, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 4.45 and a beta of 0.81. The stock's fifty day simple moving average is $491.34 and its 200-day simple moving average is $534.10. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a 1 year low of $441.95 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 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%. Analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were issued a $0.79 dividend. The ex-dividend date was Monday, March 3rd. This represents a $3.16 annualized dividend and a dividend yield of 0.66%. Martin Marietta Materials's dividend payout ratio (DPR) is presently 9.77%.

Martin Marietta Materials 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.