Whittier Trust Co. Has $8.08 Million Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Whittier Trust Co. raised its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 6.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 15,647 shares of the construction company’s stock after acquiring an additional 994 shares during the quarter. Whittier Trust Co.’s holdings in Martin Marietta Materials were worth $8,082,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC increased its position in Martin Marietta Materials by 2.5% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 782 shares of the construction company’s stock valued at $421,000 after acquiring an additional 19 shares during the period. Checchi Capital Advisers LLC increased its position in Martin Marietta Materials by 1.4% in the 4th quarter. Checchi Capital Advisers LLC now owns 1,336 shares of the construction company’s stock valued at $690,000 after acquiring an additional 19 shares during the period. iA Global Asset Management Inc. increased its position in Martin Marietta Materials by 3.6% in the 3rd quarter. iA Global Asset Management Inc. now owns 570 shares of the construction company’s stock valued at $307,000 after acquiring an additional 20 shares during the period. Brooklyn Investment Group increased its position in Martin Marietta Materials by 4.7% in the 4th quarter. Brooklyn Investment Group now owns 447 shares of the construction company’s stock valued at $231,000 after acquiring an additional 20 shares during the period. Finally, Financial Counselors Inc. increased its position in Martin Marietta Materials by 1.9% in the 3rd quarter. Financial Counselors Inc. now owns 1,123 shares of the construction company’s stock valued at $604,000 after acquiring an additional 21 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Down 1.3 %

Shares of NYSE MLM opened at $483.84 on Friday. The firm has a market cap of $29.50 billion, a PE ratio of 14.97, a P/E/G ratio of 4.45 and a beta of 0.89. Martin Marietta Materials, Inc. has a 12-month low of $448.50 and a 12-month high of $633.23. The company’s fifty day simple moving average is $511.89 and its 200 day simple moving average is $539.58. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, topping the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. As a group, sell-side analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.79 per share. The ex-dividend date is Monday, March 3rd. This represents a $3.16 annualized dividend and a yield of 0.65%. Martin Marietta Materials’s payout ratio is 9.77%.

Insiders Place Their Bets

In other Martin Marietta Materials news, SVP Michael J. Petro acquired 550 shares of the stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $454.37 per share, for a total transaction of $249,903.50. Following the completion of the acquisition, the senior vice president now owns 8,985 shares in the company, valued at approximately $4,082,514.45. This represents a 6.52 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Donald A. Mccunniff sold 1,332 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total transaction of $632,700.00. Following the transaction, the executive vice president now owns 3,523 shares in the company, valued at approximately $1,673,425. The trade was a 27.44 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MLM. JPMorgan Chase & Co. cut shares of Martin Marietta Materials from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $640.00 to $560.00 in a research report on Wednesday. Loop Capital reduced their price objective on shares of Martin Marietta Materials from $680.00 to $645.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Citigroup reduced their price objective on shares of Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. StockNews.com lowered shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note 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 on the stock in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $628.64.

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.