HCR Wealth Advisors Buys New Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

HCR Wealth Advisors purchased a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 425 shares of the construction company’s stock, valued at approximately $212,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Amalgamated Bank lifted its stake in Martin Marietta Materials by 2.5% during the 3rd quarter. Amalgamated Bank now owns 16,460 shares of the construction company’s stock worth $6,757,000 after acquiring an additional 397 shares in the last quarter. Simplicity Solutions LLC grew its holdings in shares of Martin Marietta Materials by 166.1% in the fourth quarter. Simplicity Solutions LLC now owns 2,725 shares of the construction company’s stock valued at $1,360,000 after purchasing an additional 1,701 shares in the last quarter. Hudson Bay Capital Management LP purchased a new stake in Martin Marietta Materials during the 3rd quarter worth approximately $3,284,000. Everpar Advisors LLC acquired a new stake in Martin Marietta Materials during the 4th quarter worth approximately $1,203,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Martin Marietta Materials by 7.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 60,499 shares of the construction company’s stock valued at $29,161,000 after buying an additional 4,383 shares during the period. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO C Howard Nye sold 15,000 shares of Martin Marietta Materials stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $604.26, for a total value of $9,063,900.00. Following the transaction, the chief executive officer now directly owns 134,640 shares of the company’s stock, valued at approximately $81,357,566.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO C Howard Nye sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $604.26, for a total transaction of $9,063,900.00. Following the transaction, the chief executive officer now owns 134,640 shares of the company’s stock, valued at $81,357,566.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Roselyn R. Bar sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $603.29, for a total value of $6,032,900.00. Following the sale, the executive vice president now directly owns 59,970 shares of the company’s stock, valued at $36,179,301.30. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.

Martin Marietta Materials Stock Up 1.0 %

Shares of NYSE MLM traded up $5.70 during mid-day trading on Friday, reaching $579.16. The company had a trading volume of 283,431 shares, compared to its average volume of 440,534. Martin Marietta Materials, Inc. has a 52-week low of $389.90 and a 52-week high of $626.67. The stock has a market cap of $35.70 billion, a P/E ratio of 17.16, a PEG ratio of 2.73 and a beta of 0.95. The company has a current ratio of 3.16, a quick ratio of 2.41 and a debt-to-equity ratio of 0.44. The firm has a 50 day simple moving average of $598.74 and a two-hundred day simple moving average of $540.32.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.05. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the company posted $2.16 earnings per share. The business’s quarterly revenue was down 7.6% compared to the same quarter last year. Sell-side analysts predict that Martin Marietta Materials, Inc. will post 21.88 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date is Monday, June 3rd. Martin Marietta Materials’s dividend payout ratio is currently 8.77%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Wolfe Research cut Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research note on Friday, March 8th. Stifel Nicolaus boosted their price objective on Martin Marietta Materials from $621.00 to $650.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. The Goldman Sachs Group upped their target price on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. HSBC upgraded shares of Martin Marietta Materials from a “reduce” rating to a “hold” rating and lifted their price target for the stock from $376.00 to $543.00 in a research note on Thursday, February 22nd. Finally, Truist Financial increased their price objective on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $610.27.

About Martin Marietta Materials

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.