BNP Paribas Financial Markets Increases Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

BNP Paribas Financial Markets lifted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 87.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 133,966 shares of the construction company’s stock after purchasing an additional 62,687 shares during the period. BNP Paribas Financial Markets owned about 0.22% of Martin Marietta Materials worth $69,193,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in MLM. Lee Danner & Bass Inc. purchased a new stake in Martin Marietta Materials in the fourth quarter worth about $28,000. Whipplewood Advisors LLC purchased a new stake in Martin Marietta Materials in the 4th quarter worth approximately $32,000. Kestra Investment Management LLC bought a new stake in Martin Marietta Materials during the 4th quarter worth approximately $35,000. Hopwood Financial Services Inc. purchased a new position in Martin Marietta Materials during the fourth quarter valued at approximately $36,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Martin Marietta Materials by 91.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company’s stock worth $37,000 after purchasing an additional 34 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MLM. Truist Financial decreased 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 report on Thursday, February 13th. Stifel Nicolaus boosted their price objective on Martin Marietta Materials from $559.00 to $609.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Morgan Stanley increased their target price on Martin Marietta Materials from $561.00 to $576.00 and gave the stock an “overweight” rating in a research report on Tuesday. Wolfe Research raised Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price target on the stock in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. lowered shares of Martin Marietta Materials from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $640.00 to $560.00 in a report on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $599.69.

Insider Buying and Selling

In other Martin Marietta Materials news, 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 value of $632,700.00. Following the transaction, the executive vice president now owns 3,523 shares of the company’s stock, valued at $1,673,425. This represents a 27.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Michael J. Petro bought 550 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now owns 8,985 shares of the company’s stock, valued at approximately $4,082,514.45. The trade was a 6.52 % increase in their position. The disclosure for this purchase can be found here. 0.68% of the stock is owned by corporate insiders.

Martin Marietta Materials Trading Down 1.1 %

MLM opened at $536.04 on Wednesday. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $633.23. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average of $487.42 and a 200 day moving average of $529.84. The firm has a market cap of $32.32 billion, a P/E ratio of 16.58, a P/E/G ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, April 30th. The construction company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.02. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.36 billion. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.93 EPS. As a group, research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were issued a $0.79 dividend. The ex-dividend date was Monday, March 3rd. This represents a $3.16 annualized dividend and a dividend yield of 0.59%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 18.20%.

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.