DAVENPORT & Co LLC Grows Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

DAVENPORT & Co LLC grew its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLMFree Report) by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 423,953 shares of the construction company’s stock after buying an additional 3,292 shares during the quarter. Martin Marietta Materials comprises 1.4% of DAVENPORT & Co LLC’s holdings, making the stock its 10th biggest position. DAVENPORT & Co LLC’s holdings in Martin Marietta Materials were worth $211,103,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MLM. Vanguard Group Inc. raised its holdings in shares of Martin Marietta Materials by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 6,850,912 shares of the construction company’s stock worth $2,636,848,000 after purchasing an additional 105,535 shares in the last quarter. State Street Corp raised its holdings in shares of Martin Marietta Materials by 2.3% in the 2nd quarter. State Street Corp now owns 2,569,976 shares of the construction company’s stock worth $1,186,532,000 after purchasing an additional 58,864 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Martin Marietta Materials by 9.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,042,537 shares of the construction company’s stock worth $838,421,000 after purchasing an additional 181,136 shares in the last quarter. FMR LLC raised its holdings in shares of Martin Marietta Materials by 225.3% in the 3rd quarter. FMR LLC now owns 1,833,959 shares of the construction company’s stock worth $752,803,000 after purchasing an additional 1,270,116 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Martin Marietta Materials by 2.2% in the 1st quarter. Geode Capital Management LLC now owns 1,286,937 shares of the construction company’s stock worth $455,900,000 after purchasing an additional 27,930 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Stock Down 0.4 %

MLM traded down $2.34 on Tuesday, reaching $602.08. 382,941 shares of the company traded hands, compared to its average volume of 402,965. The stock’s 50 day moving average price is $564.26 and its 200-day moving average price is $493.96. Martin Marietta Materials, Inc. has a 52-week low of $332.13 and a 52-week high of $617.08. The company has a market cap of $37.22 billion, a price-to-earnings ratio of 31.97, a PEG ratio of 3.00 and a beta of 0.96. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.35 and a quick ratio of 2.50.

Martin Marietta Materials (NYSE:MLMGet Free Report) last posted its earnings results on Wednesday, February 14th. The construction company reported $4.63 EPS for the quarter, topping the consensus estimate of $3.96 by $0.67. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.62 billion. Martin Marietta Materials had a net margin of 17.25% and a return on equity of 15.77%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.04 earnings per share. On average, sell-side analysts expect that Martin Marietta Materials, Inc. will post 21.09 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 4th were given a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Friday, March 1st. Martin Marietta Materials’s dividend payout ratio is 15.72%.

Insiders Place Their Bets

In other Martin Marietta Materials news, EVP Roselyn R. Bar sold 10,000 shares of the business’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 completion of the sale, the executive vice president now directly owns 59,970 shares of the company’s stock, valued at $36,179,301.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Martin Marietta Materials news, EVP Roselyn R. Bar sold 10,000 shares of the business’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 completion of the sale, the executive vice president now directly owns 59,970 shares of the company’s stock, valued at $36,179,301.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sue W. Cole sold 1,724 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $543.48, for a total transaction of $936,959.52. Following the completion of the sale, the director now directly owns 19,793 shares of the company’s stock, valued at $10,757,099.64. The disclosure for this sale can be found here. Insiders sold 26,724 shares of company stock valued at $16,033,760 over the last ninety days. Corporate insiders own 0.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Stifel Nicolaus lifted their target price on shares of Martin Marietta Materials from $510.00 to $598.00 and gave the stock a “buy” rating in a research report on Tuesday, December 19th. Wolfe Research downgraded shares of Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research report on Friday, March 8th. Truist Financial lifted their target price on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday. HSBC raised shares of Martin Marietta Materials from a “reduce” rating to a “hold” rating and lifted their target price for the stock from $376.00 to $543.00 in a research report on Thursday, February 22nd. Finally, Citigroup lifted their target price on shares of Martin Marietta Materials from $573.00 to $635.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $571.77.

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About Martin Marietta Materials

(Free Report)

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.

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Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

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