Bellwether Advisors LLC Takes $46,000 Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Bellwether Advisors LLC bought a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 89 shares of the construction company’s stock, valued at approximately $46,000.

Other hedge funds have also recently made changes to their positions in the company. Checchi Capital Advisers LLC raised its holdings in Martin Marietta Materials by 1.4% in the fourth quarter. Checchi Capital Advisers LLC now owns 1,336 shares of the construction company’s stock worth $690,000 after purchasing an additional 19 shares in the last quarter. OneDigital Investment Advisors LLC boosted its holdings in shares of Martin Marietta Materials by 1.9% during the 4th quarter. OneDigital Investment Advisors LLC now owns 1,020 shares of the construction company’s stock valued at $527,000 after buying an additional 19 shares in the last quarter. Brooklyn Investment Group grew its position in shares of Martin Marietta Materials by 4.7% in the 4th quarter. Brooklyn Investment Group now owns 447 shares of the construction company’s stock worth $231,000 after buying an additional 20 shares during the period. OLD National Bancorp IN increased its stake in shares of Martin Marietta Materials by 4.5% in the 4th quarter. OLD National Bancorp IN now owns 483 shares of the construction company’s stock worth $249,000 after acquiring an additional 21 shares in the last quarter. Finally, Signaturefd LLC lifted its position in Martin Marietta Materials by 2.6% during the 4th quarter. Signaturefd LLC now owns 835 shares of the construction company’s stock valued at $431,000 after acquiring an additional 21 shares during the period. 95.04% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Donald A. Mccunniff sold 1,332 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total transaction of $632,700.00. Following the completion of the transaction, the executive vice president now owns 3,523 shares in the company, valued at approximately $1,673,425. This represents a 27.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael J. Petro bought 550 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average price of $454.37 per share, with a total value of $249,903.50. Following the transaction, the senior vice president now owns 8,985 shares of the company’s stock, valued at $4,082,514.45. The trade was 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.

Martin Marietta Materials Trading Down 0.3 %

Shares of NYSE MLM opened at $502.89 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50. The firm’s 50 day moving average price is $483.08 and its 200-day moving average price is $531.26. Martin Marietta Materials, Inc. has a 52-week low of $441.95 and a 52-week high of $633.23. The company has a market cap of $30.48 billion, a PE ratio of 15.55, a P/E/G ratio of 4.45 and a beta of 0.81.

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, beating 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%. On average, equities research analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were issued a dividend of $0.79 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a yield of 0.63%. Martin Marietta Materials’s dividend payout ratio is currently 9.77%.

Wall Street Analyst Weigh In

Several research firms recently commented on MLM. Raymond James dropped their price objective on shares of 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. Stephens dropped their price objective on shares of Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Loop Capital dropped their price objective on shares of Martin Marietta Materials from $645.00 to $615.00 and set a “buy” rating on the stock in a research note on Tuesday, April 1st. Truist Financial dropped 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. Finally, Seaport Res Ptn raised shares of Martin Marietta Materials to a “strong-buy” rating in a research note on Friday, March 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $599.62.

Martin Marietta Materials 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.