Vestor Capital LLC Purchases Shares of 8,730 Martin Marietta Materials, Inc. (NYSE:MLM)

Vestor Capital LLC purchased a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 8,730 shares of the construction company's stock, valued at approximately $4,509,000.

Other institutional investors have also modified their holdings of the company. Proficio Capital Partners LLC raised its position in Martin Marietta Materials by 54,277.3% during 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. boosted its stake in shares of 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 worth $876,648,000 after acquiring an additional 704,460 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Martin Marietta Materials by 23.3% in 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 purchasing an additional 506,705 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Martin Marietta Materials during the fourth quarter worth approximately $196,374,000. Finally, FMR LLC grew its holdings in Martin Marietta Materials by 15.3% in the third quarter. FMR LLC now owns 2,515,441 shares of the construction company's stock valued at $1,353,936,000 after purchasing an additional 334,605 shares during the period. Hedge funds and other institutional investors own 95.04% of the company's stock.

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Martin Marietta Materials Stock Down 0.9 %

NYSE MLM traded down $4.45 during trading on Tuesday, reaching $486.24. 101,333 shares of the company's stock were exchanged, compared to its average volume of 460,834. The company has a 50 day moving average price of $510.82 and a two-hundred day moving average price of $539.41. Martin Marietta Materials, Inc. has a 1 year low of $448.50 and a 1 year 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 stock has a market cap of $29.65 billion, a P/E ratio of 15.04, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings results 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%. On average, equities research analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company 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 $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 0.65%. The ex-dividend date is Monday, March 3rd. Martin Marietta Materials's payout ratio is currently 9.77%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MLM shares. Wolfe Research raised Martin Marietta Materials from a "peer perform" rating to an "outperform" rating and set a $563.00 target price for the company in a research note on Wednesday, January 8th. Morgan Stanley lowered their target price on Martin Marietta Materials from $657.00 to $622.00 and set an "overweight" rating on the stock in a report on Tuesday, December 17th. Citigroup reduced their target price on Martin Marietta Materials from $701.00 to $600.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. cut shares of Martin Marietta Materials from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $640.00 to $560.00 in a research report on Wednesday, March 19th. Finally, 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Martin Marietta Materials currently has a consensus rating of "Moderate Buy" and an average target price of $628.64.

Insider Buying and Selling

In other news, SVP Michael J. Petro bought 550 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average price of $454.37 per share, with a total value of $249,903.50. Following the purchase, the senior vice president now owns 8,985 shares of the company's stock, valued at $4,082,514.45. This trade represents a 6.52 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Donald A. Mccunniff sold 1,332 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was 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 in the company, valued at $1,673,425. This represents a 27.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.68% of the company's stock.

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.