Patrick M Sweeney & Associates Inc. Takes $210,000 Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Patrick M Sweeney & Associates Inc. purchased a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the 4th quarter, Holdings Channel.com reports. The fund purchased 420 shares of the construction company’s stock, valued at approximately $210,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MLM. Pinnacle Bancorp Inc. bought a new stake in shares of Martin Marietta Materials in the 4th quarter valued at about $26,000. MV Capital Management Inc. raised its stake in Martin Marietta Materials by 144.4% in the third quarter. MV Capital Management Inc. now owns 66 shares of the construction company’s stock valued at $27,000 after buying an additional 39 shares during the period. Exchange Traded Concepts LLC acquired a new stake in shares of Martin Marietta Materials in the fourth quarter valued at approximately $27,000. Benjamin Edwards Inc. boosted its stake 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 worth $29,000 after acquiring an additional 26 shares during the period. Finally, Covestor Ltd boosted its stake in shares of Martin Marietta Materials by 84.6% during the 3rd quarter. Covestor Ltd now owns 72 shares of the construction company’s stock worth $30,000 after acquiring an additional 33 shares during the period. 95.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Truist Financial raised their price target on Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Stephens lifted their target price on shares of Martin Marietta Materials from $575.00 to $605.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Morgan Stanley assumed coverage on shares of Martin Marietta Materials in a report on Monday, January 8th. They issued an “overweight” rating and a $595.00 price target on the stock. Citigroup boosted their price objective on Martin Marietta Materials from $635.00 to $708.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Finally, The Goldman Sachs Group increased their target price on Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $598.17.

Insider Buying and Selling

In other Martin Marietta Materials news, Director Sue W. Cole sold 1,724 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $543.48, for a total transaction of $936,959.52. Following the completion of the transaction, the director now directly owns 19,793 shares in the company, valued at $10,757,099.64. The sale was disclosed in a document filed with the SEC, which can be accessed 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 stock was sold at an average price of $543.48, for a total value of $936,959.52. Following the sale, the director now directly owns 19,793 shares of the company’s stock, valued at $10,757,099.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO C Howard Nye sold 15,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 134,640 shares of the company’s stock, valued at approximately $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.

Martin Marietta Materials Price Performance

Martin Marietta Materials stock traded down $0.98 during mid-day trading on Tuesday, reaching $598.81. 329,675 shares of the company were exchanged, compared to its average volume of 418,221. The firm has a market cap of $36.91 billion, a PE ratio of 17.74, a PEG ratio of 2.80 and a beta of 0.95. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.16 and a quick ratio of 2.41. The company has a fifty day simple moving average of $600.19 and a 200-day simple moving average of $525.61. Martin Marietta Materials, Inc. has a 12 month low of $389.90 and a 12 month high of $626.67.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1.31 billion. During the same quarter last year, the business earned $2.16 earnings per share. Martin Marietta Materials’s revenue was down 7.6% on a year-over-year basis. As a group, equities research analysts expect that Martin Marietta Materials, Inc. will post 21.7 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

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

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.