Wedbush Securities Inc. Takes $312,000 Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Wedbush Securities Inc. purchased a new stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 604 shares of the construction company's stock, valued at approximately $312,000.

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

Insiders Place Their Bets

In other Martin Marietta Materials news, SVP Michael J. Petro acquired 550 shares of the stock in a transaction dated Tuesday, March 4th. The stock was purchased 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 owns 8,985 shares in the company, valued at $4,082,514.45. The trade was a 6.52 % increase in their position. The acquisition 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 the 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 transaction, the executive vice president now directly owns 3,523 shares in the company, valued at approximately $1,673,425. This represents a 27.44 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company's stock.

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Analyst Ratings Changes

A number of research analysts recently weighed in on MLM shares. Morgan Stanley decreased 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. Truist Financial reduced their target price on Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. JPMorgan Chase & Co. cut shares of Martin Marietta Materials from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $640.00 to $560.00 in a research note on Wednesday, March 19th. StockNews.com cut shares of Martin Marietta Materials from a "hold" rating to a "sell" rating in a report on Thursday, February 20th. Finally, Seaport Res Ptn raised Martin Marietta Materials to a "strong-buy" rating in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $609.43.

Martin Marietta Materials Stock Performance

Shares of MLM stock traded down $0.75 during trading hours on Tuesday, hitting $502.18. 68,082 shares of the company were exchanged, compared to its average volume of 488,044. Martin Marietta Materials, Inc. has a 52-week low of $441.95 and a 52-week high of $633.23. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. The firm has a fifty day simple moving average of $489.70 and a 200 day simple moving average of $533.50. The stock has a market capitalization of $30.62 billion, a price-to-earnings ratio of 15.54, a P/E/G ratio of 4.45 and a beta of 0.81.

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

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend was Monday, March 3rd. Martin Marietta Materials's payout ratio is 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.