462 Shares in Martin Marietta Materials, Inc. (NYSE:MLM) Purchased by Heritage Trust Co

Heritage Trust Co bought a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 462 shares of the construction company’s stock, valued at approximately $239,000.

Several other hedge funds and other institutional investors also recently bought and sold shares 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 purchased a new position in shares of Martin Marietta Materials during the fourth quarter worth $32,000. Kestra Investment Management LLC acquired a new position in Martin Marietta Materials during the fourth quarter valued at $35,000. Hopwood Financial Services Inc. purchased a new stake in Martin Marietta Materials in the fourth quarter valued at $36,000. Finally, EverSource Wealth Advisors LLC grew its position in Martin Marietta Materials by 91.9% during the 4th 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. Institutional investors and hedge funds own 95.04% of the company’s stock.

Insider Transactions at Martin Marietta Materials

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

Martin Marietta Materials Stock Performance

NYSE MLM opened at $491.66 on Friday. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $633.23. The firm has a market capitalization of $29.98 billion, a P/E ratio of 15.21, a price-to-earnings-growth ratio of 4.45 and a beta of 0.81. The stock’s fifty day moving average is $490.42 and its two-hundred day moving average is $533.79. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results 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, research analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current 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 paid a $0.79 dividend. The ex-dividend date was Monday, March 3rd. This represents a $3.16 annualized dividend and a dividend yield of 0.64%. Martin Marietta Materials’s dividend payout ratio (DPR) is 9.77%.

Analyst Upgrades and Downgrades

MLM has been the subject of several analyst reports. Citigroup decreased their price objective on Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating for the company in a report on Monday, January 6th. Seaport Res Ptn raised Martin Marietta Materials to a “strong-buy” rating in a report on Friday, March 21st. Barclays dropped their price objective on shares of Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Truist Financial cut their target price on shares of Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. downgraded shares of Martin Marietta Materials from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $640.00 to $560.00 in a report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and an average price target of $609.43.

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.