Wells Fargo & Company MN Acquires 7,159 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Wells Fargo & Company MN lifted its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 6.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 124,071 shares of the construction company's stock after purchasing an additional 7,159 shares during the quarter. Wells Fargo & Company MN owned about 0.20% of Martin Marietta Materials worth $64,083,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Franklin Street Advisors Inc. NC boosted its position in shares of Martin Marietta Materials by 15.5% during the 4th quarter. Franklin Street Advisors Inc. NC now owns 25,242 shares of the construction company's stock valued at $13,037,000 after purchasing an additional 3,384 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in Martin Marietta Materials by 18.5% during the third quarter. Sanctuary Advisors LLC now owns 8,220 shares of the construction company's stock valued at $4,914,000 after purchasing an additional 1,286 shares during the last quarter. RMR Wealth Builders boosted its holdings in Martin Marietta Materials by 431.3% during the fourth quarter. RMR Wealth Builders now owns 2,391 shares of the construction company's stock worth $1,235,000 after buying an additional 1,941 shares in the last quarter. InTrack Investment Management Inc boosted its holdings in Martin Marietta Materials by 33.9% during the fourth quarter. InTrack Investment Management Inc now owns 3,446 shares of the construction company's stock worth $1,784,000 after buying an additional 872 shares in the last quarter. Finally, National Bank of Canada FI grew its position in Martin Marietta Materials by 158.2% in the third quarter. National Bank of Canada FI now owns 43,952 shares of the construction company's stock worth $23,657,000 after buying an additional 26,929 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.

Remove Ads

Martin Marietta Materials Stock Up 1.5 %

Shares of Martin Marietta Materials stock traded up $7.51 during trading on Monday, hitting $499.20. 51,111 shares of the stock traded hands, compared to its average volume of 487,880. The stock has a market cap of $30.44 billion, a P/E ratio of 15.44, a PEG ratio of 4.45 and a beta of 0.81. The company has a fifty day moving average price of $490.42 and a two-hundred day moving average price of $533.75. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month 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.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its earnings results on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, topping the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. Equities research analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders 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%.

Insider Buying and Selling at Martin Marietta Materials

In other news, SVP Michael J. Petro acquired 550 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average cost of $454.37 per share, with a total value of $249,903.50. Following the acquisition, the senior vice president now owns 8,985 shares in the company, valued at approximately $4,082,514.45. This represents a 6.52 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Donald A. Mccunniff sold 1,332 shares of the firm's 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 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company's stock.

Analyst Ratings Changes

MLM has been the topic of a number of recent research reports. Loop Capital decreased their target price on Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Stephens cut their price objective on Martin Marietta Materials from $675.00 to $650.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. Morgan Stanley decreased their target price on shares of Martin Marietta Materials from $657.00 to $622.00 and set an "overweight" rating for the company in a report on Tuesday, December 17th. Raymond James dropped their target price on shares of Martin Marietta Materials from $630.00 to $600.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Finally, UBS Group downgraded shares of Martin Marietta Materials from a "buy" rating to a "neutral" rating and set a $491.00 price target for the company. in a research report on Monday, April 7th. 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, Martin Marietta Materials has an average rating of "Moderate Buy" and an average price target of $609.43.

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.