1,100 Shares in Martin Marietta Materials, Inc. (NYSE:MLM) Bought by Texas Bank & Trust Co

Texas Bank & Trust Co purchased a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,100 shares of the construction company’s stock, valued at approximately $568,000.

Several other large investors also recently added to or reduced their stakes in MLM. InTrack Investment Management Inc grew its stake in Martin Marietta Materials by 33.9% in the fourth quarter. InTrack Investment Management Inc now owns 3,446 shares of the construction company’s stock valued at $1,784,000 after purchasing an additional 872 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Martin Marietta Materials by 24.6% in the fourth quarter. Fifth Third Bancorp now owns 7,005 shares of the construction company’s stock worth $3,618,000 after purchasing an additional 1,382 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in shares of Martin Marietta Materials by 64.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,028 shares of the construction company’s stock worth $1,047,000 after buying an additional 796 shares during the last quarter. Mitsubishi UFJ Asset Management UK Ltd. acquired a new position in Martin Marietta Materials during the 4th quarter valued at $517,000. Finally, Clarendon Private LLC bought a new stake in shares of Martin Marietta Materials in the fourth quarter valued at about $383,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Martin Marietta Materials

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 business’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 sale, the executive vice president now directly owns 3,523 shares of the company’s stock, valued at approximately $1,673,425. The trade was a 27.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on MLM. Truist Financial reduced their target price 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. UBS Group upgraded Martin Marietta Materials from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $548.00 to $634.00 in a research report on Friday. 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 report on Tuesday, May 6th. Raymond James lowered their target price on Martin Marietta Materials from $600.00 to $597.00 and set an “outperform” rating for the company in a research note on Tuesday, April 29th. Finally, JPMorgan Chase & Co. downgraded shares of Martin Marietta Materials from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $640.00 to $560.00 in a research report on Wednesday, March 19th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $610.69.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $564.51 on Friday. The firm has a market capitalization of $34.03 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 4.45 and a beta of 0.89. 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 business’s 50-day moving average price is $499.71 and its 200-day moving average price is $528.22. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $633.23.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly 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. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the prior year, the firm posted $1.93 earnings per share. The business’s quarterly revenue was up 8.2% on a year-over-year basis. Equities 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 declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be issued a $0.79 dividend. The ex-dividend date is Monday, June 2nd. This represents a $3.16 annualized dividend and a yield of 0.56%. Martin Marietta Materials’s payout ratio is currently 18.20%.

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.