N.E.W. Advisory Services LLC Invests $257,000 in Martin Marietta Materials, Inc. (NYSE:MLM)

N.E.W. Advisory Services LLC purchased a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 516 shares of the construction company’s stock, valued at approximately $257,000.

Several other hedge funds have also bought and sold shares of the business. Pinnacle Bancorp Inc. bought a new stake in Martin Marietta Materials during the 4th quarter valued at about $26,000. MV Capital Management Inc. raised its holdings in Martin Marietta Materials by 144.4% in the 3rd quarter. MV Capital Management Inc. now owns 66 shares of the construction company’s stock worth $27,000 after purchasing an additional 39 shares during the period. Exchange Traded Concepts LLC purchased a new position in Martin Marietta Materials during the fourth quarter valued at $27,000. Benjamin Edwards Inc. lifted its position in shares of Martin Marietta Materials by 78.8% during the 4th quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock valued at $29,000 after buying an additional 26 shares in the last quarter. Finally, Covestor Ltd boosted its position in shares of Martin Marietta Materials by 84.6% in the third quarter. Covestor Ltd now owns 72 shares of the construction company’s stock worth $30,000 after purchasing an additional 33 shares during the period. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock traded down $0.98 on Tuesday, reaching $598.81. 329,675 shares of the stock were exchanged, compared to its average volume of 418,221. Martin Marietta Materials, Inc. has a twelve month low of $389.90 and a twelve month high of $626.67. The business has a 50 day moving average price of $599.40 and a two-hundred day moving average price of $524.28. The company has a quick ratio of 2.41, a current ratio of 3.16 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $36.91 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 2.80 and a beta of 0.95.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.88 by $0.05. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. The business’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.16 EPS. Analysts anticipate that Martin Marietta Materials, Inc. will post 21.7 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 4th were issued a $0.74 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $2.96 annualized dividend and a dividend yield of 0.49%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 8.77%.

Insiders Place Their Bets

In other Martin Marietta Materials news, CEO C Howard Nye sold 15,000 shares of the stock in a transaction that occurred on 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 in the company, valued at $81,357,566.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Sue W. Cole sold 1,724 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $543.48, for a total value of $936,959.52. Following the transaction, the director now directly owns 19,793 shares of the company’s stock, valued at approximately $10,757,099.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO C Howard Nye sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $604.26, for a total value of $9,063,900.00. Following the sale, the chief executive officer now owns 134,640 shares of the company’s stock, valued at $81,357,566.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,724 shares of company stock worth $16,033,760. Corporate insiders own 0.68% of the company’s stock.

Analyst Upgrades and Downgrades

MLM has been the subject of several recent analyst reports. Stephens upped their price target on Martin Marietta Materials from $575.00 to $605.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. Stifel Nicolaus raised their price objective on Martin Marietta Materials from $621.00 to $650.00 and gave the company a “buy” rating in a research note on Monday, April 15th. The Goldman Sachs Group boosted their price objective on Martin Marietta Materials from $642.00 to $737.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Truist Financial raised their price objective on Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $600.00 target price (up previously from $530.00) on shares of Martin Marietta Materials in a research report on Friday, March 22nd. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Martin Marietta Materials currently has an average rating of “Moderate Buy” and an average target price of $598.17.

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.