Steward Partners Investment Advisory LLC Purchases 796 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Steward Partners Investment Advisory LLC raised its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 64.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,028 shares of the construction company’s stock after acquiring an additional 796 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Martin Marietta Materials were worth $1,047,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Proficio Capital Partners LLC boosted its holdings in Martin Marietta Materials by 54,277.3% in the 4th quarter. Proficio Capital Partners LLC now owns 918,432 shares of the construction company’s stock valued at $474,370,000 after purchasing an additional 916,743 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Martin Marietta Materials by 76.2% in the third quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock valued at $876,648,000 after buying an additional 704,460 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Martin Marietta Materials by 23.3% in the third quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock valued at $1,441,663,000 after buying an additional 506,705 shares during the period. FMR LLC lifted its stake in shares of 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 buying an additional 334,605 shares during the period. Finally, Public Sector Pension Investment Board lifted its stake in shares of Martin Marietta Materials by 7,608.2% in the third quarter. Public Sector Pension Investment Board now owns 181,373 shares of the construction company’s stock valued at $97,624,000 after buying an additional 179,020 shares during the period. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Trading Up 1.5 %

Shares of MLM opened at $467.37 on Tuesday. The stock has a fifty day moving average price of $517.81 and a two-hundred day moving average price of $542.72. 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, Inc. has a 52-week low of $448.50 and a 52-week high of $633.23. The company has a market cap of $28.50 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results 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%. Analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be given a $0.79 dividend. The ex-dividend date is Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a yield of 0.68%. Martin Marietta Materials’s payout ratio is 9.77%.

Analyst Ratings Changes

A number of brokerages have commented on MLM. Citigroup reduced their price objective on Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating for the company in a research report on Monday, January 6th. HSBC raised Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 target price for the company in a research report on Wednesday, December 11th. Hsbc Global Res raised Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. StockNews.com cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. Finally, Truist Financial reduced their price objective on shares of Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $634.36.

Insider Activity

In other Martin Marietta Materials news, SVP Michael J. Petro bought 550 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was bought at an average price of $454.37 per share, for a total transaction of $249,903.50. Following the transaction, the senior vice president now owns 8,985 shares of the company’s stock, valued at approximately $4,082,514.45. The trade was a 6.52 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Donald A. Mccunniff sold 1,332 shares of the company’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 sale, the executive vice president now owns 3,523 shares of the company’s stock, valued at $1,673,425. The trade was a 27.44 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

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.