Martin Marietta Materials, Inc. (NYSE:MLM) Shares Purchased by Wells Fargo & Company MN

Wells Fargo & Company MN grew its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 6.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 124,071 shares of the construction company’s stock after acquiring an additional 7,159 shares during the period. Wells Fargo & Company MN’s holdings in Martin Marietta Materials were worth $64,083,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Lee Danner & Bass Inc. acquired a new stake in Martin Marietta Materials during the 4th quarter valued at approximately $28,000. Whipplewood Advisors LLC acquired a new stake in shares of Martin Marietta Materials during the fourth quarter worth approximately $32,000. Kestra Investment Management LLC acquired a new stake in shares of Martin Marietta Materials during the fourth quarter worth approximately $35,000. Hopwood Financial Services Inc. bought a new stake in shares of Martin Marietta Materials in the fourth quarter worth $36,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Martin Marietta Materials by 91.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company’s stock valued at $37,000 after acquiring an additional 34 shares in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Martin Marietta Materials

In related news, EVP Donald A. Mccunniff sold 1,332 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total value of $632,700.00. Following the sale, the executive vice president now directly owns 3,523 shares in the company, valued at $1,673,425. The trade was a 27.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael J. Petro bought 550 shares of Martin Marietta Materials stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average price of $454.37 per share, with a total value of $249,903.50. Following the completion of the acquisition, the senior vice president now directly owns 8,985 shares of the company’s stock, valued at $4,082,514.45. This represents a 6.52 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MLM shares. UBS Group lowered shares of Martin Marietta Materials from a “buy” rating to a “neutral” rating and set a $491.00 target price on the stock. in a research note on Monday. Truist Financial cut their price objective on 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. BNP Paribas downgraded Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Raymond James reduced their price objective on Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Finally, Loop Capital lowered their target price on shares of Martin Marietta Materials from $645.00 to $615.00 and set a “buy” rating for the company in a research note on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $609.43.

Martin Marietta Materials Stock Performance

MLM stock opened at $451.55 on Wednesday. The company has a 50-day simple moving average of $495.06 and a 200 day simple moving average of $535.32. The company has a market capitalization of $27.53 billion, a P/E ratio of 13.97, a PEG ratio of 4.45 and a beta of 0.81. 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, Inc. has a fifty-two week low of $442.89 and a fifty-two week high of $633.23.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, topping analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. Sell-side analysts predict that Martin Marietta Materials, Inc. will post 19.53 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 Monday, March 31st. Stockholders of record on Monday, March 3rd were given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 0.70%. The ex-dividend date was Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.77%.

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.