Pitcairn Co. Raises Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Pitcairn Co. grew its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 10.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 981 shares of the construction company’s stock after purchasing an additional 90 shares during the quarter. Pitcairn Co.’s holdings in Martin Marietta Materials were worth $507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. increased its stake in Martin Marietta Materials by 76.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock worth $876,648,000 after buying an additional 704,460 shares in the last quarter. Benjamin Edwards Inc. boosted its stake in shares of Martin Marietta Materials by 2,448.1% in the third quarter. Benjamin Edwards Inc. now owns 1,376 shares of the construction company’s stock worth $741,000 after acquiring an additional 1,322 shares during the period. Integrated Wealth Concepts LLC grew its position in shares of Martin Marietta Materials by 2.5% during 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 in the last quarter. IHT Wealth Management LLC raised its stake in Martin Marietta Materials by 13.9% during the 3rd quarter. IHT Wealth Management LLC now owns 468 shares of the construction company’s stock valued at $252,000 after purchasing an additional 57 shares during the period. Finally, Quarry LP purchased a new position in Martin Marietta Materials in the 3rd quarter worth approximately $87,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Martin Marietta Materials

In related news, EVP Donald A. Mccunniff sold 1,332 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total value of $632,700.00. Following the transaction, the executive vice president now owns 3,523 shares of the company’s stock, valued at $1,673,425. This trade represents a 27.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Michael J. Petro acquired 550 shares of the firm’s stock in a transaction that occurred 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 acquisition, the senior vice president now directly owns 8,985 shares in the company, valued at $4,082,514.45. This represents a 6.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

MLM has been the subject of a number of research analyst reports. Citigroup cut their price objective on shares of Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating for the company in a report on Monday, January 6th. Morgan Stanley cut 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 research note on Tuesday, December 17th. Barclays dropped their price objective 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. Stephens reduced their target price 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. Finally, Truist Financial decreased their target price on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $626.50.

Martin Marietta Materials Stock Down 3.0 %

NYSE MLM opened at $470.33 on Friday. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a 52 week low of $448.50 and a 52 week high of $633.23. The firm has a market capitalization of $28.68 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 4.45 and a beta of 0.81. The company has a fifty day moving average of $500.39 and a two-hundred day moving average of $537.18.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share (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%. On average, analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were paid a dividend of $0.79 per share. The ex-dividend date was Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.67%. Martin Marietta Materials’s dividend 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.