Greenleaf Trust Acquires 113 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Greenleaf Trust boosted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 11.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,109 shares of the construction company’s stock after acquiring an additional 113 shares during the quarter. Greenleaf Trust’s holdings in Martin Marietta Materials were worth $553,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MLM. Pinnacle Bancorp Inc. bought a new position in Martin Marietta Materials in the 4th quarter valued at approximately $26,000. MV Capital Management Inc. lifted its position 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 valued at $27,000 after acquiring an additional 39 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in Martin Marietta Materials in the 4th quarter valued at approximately $27,000. Covestor Ltd lifted its position in Martin Marietta Materials by 84.6% in the 3rd quarter. Covestor Ltd now owns 72 shares of the construction company’s stock valued at $30,000 after acquiring an additional 33 shares in the last quarter. Finally, Oliver Lagore Vanvalin Investment Group lifted its position in Martin Marietta Materials by 74.3% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 61 shares of the construction company’s stock valued at $30,000 after acquiring an additional 26 shares in the last quarter. 95.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MLM. JPMorgan Chase & Co. reissued a “neutral” rating and set a $600.00 price target (up from $530.00) on shares of Martin Marietta Materials in a report on Friday, March 22nd. StockNews.com cut Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Citigroup increased their price target on Martin Marietta Materials from $635.00 to $708.00 and gave the company a “buy” rating in a report on Friday, April 5th. Wolfe Research cut Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a report on Friday, March 8th. Finally, Truist Financial increased 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. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and a consensus price target of $588.69.

Martin Marietta Materials Trading Up 1.5 %

NYSE:MLM opened at $584.32 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.35 and a quick ratio of 2.50. The firm has a market capitalization of $36.06 billion, a price-to-earnings ratio of 31.03, a price-to-earnings-growth ratio of 2.79 and a beta of 0.96. Martin Marietta Materials, Inc. has a one year low of $343.79 and a one year high of $626.67. The business has a fifty day moving average price of $588.42 and a 200-day moving average price of $512.48.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Wednesday, February 14th. The construction company reported $4.63 EPS for the quarter, topping the consensus estimate of $3.96 by $0.67. Martin Marietta Materials had a return on equity of 15.77% and a net margin of 17.25%. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same period in the prior year, the business posted $3.04 EPS. Martin Marietta Materials’s revenue was up 8.9% on a year-over-year basis. Sell-side analysts forecast that Martin Marietta Materials, Inc. will post 21.24 EPS for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 4th were paid a $0.74 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $2.96 dividend on an annualized basis and a yield of 0.51%. Martin Marietta Materials’s payout ratio is presently 15.72%.

Insiders Place Their Bets

In other Martin Marietta Materials news, CEO C Howard Nye sold 15,000 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now owns 134,640 shares in the company, valued at approximately $81,357,566.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Roselyn R. Bar sold 10,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $603.29, for a total transaction of $6,032,900.00. Following the completion of the transaction, the executive vice president now owns 59,970 shares in the company, valued at $36,179,301.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO C Howard Nye sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were 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 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 quarter, insiders sold 26,724 shares of company stock worth $16,033,760. Corporate insiders own 0.59% of the company’s stock.

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.