RD Lewis Holdings Inc. Invests $1.80 Million in Martin Marietta Materials, Inc. (NYSE:MLM)

RD Lewis Holdings Inc. purchased a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,340 shares of the construction company’s stock, valued at approximately $1,799,000. Martin Marietta Materials comprises approximately 2.1% of RD Lewis Holdings Inc.’s holdings, making the stock its 18th biggest holding.

Other large investors also recently modified their holdings of the company. Franklin Street Advisors Inc. NC lifted its holdings in shares of Martin Marietta Materials by 15.5% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 25,242 shares of the construction company’s stock worth $13,037,000 after buying an additional 3,384 shares during the last quarter. Sanctuary Advisors LLC raised its stake in shares of Martin Marietta Materials by 18.5% in the third quarter. Sanctuary Advisors LLC now owns 8,220 shares of the construction company’s stock valued at $4,914,000 after purchasing an additional 1,286 shares in the last quarter. RMR Wealth Builders lifted its position in Martin Marietta Materials by 431.3% in the fourth quarter. RMR Wealth Builders now owns 2,391 shares of the construction company’s stock worth $1,235,000 after purchasing an additional 1,941 shares during the period. Benjamin Edwards Inc. boosted its stake in Martin Marietta Materials by 2,448.1% during the third quarter. Benjamin Edwards Inc. now owns 1,376 shares of the construction company’s stock worth $741,000 after buying an additional 1,322 shares in the last quarter. Finally, InTrack Investment Management Inc increased its holdings in Martin Marietta Materials by 33.9% in the 4th quarter. InTrack Investment Management Inc now owns 3,446 shares of the construction company’s stock valued at $1,784,000 after buying an additional 872 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MLM has been the subject of a number of analyst reports. Citigroup reduced their price objective on shares of Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating for the company in a report on Monday, January 6th. Stephens decreased their price objective on Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. JPMorgan Chase & Co. raised Martin Marietta Materials from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $515.00 to $640.00 in a report on Wednesday, November 27th. Truist Financial decreased their price objective on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, Raymond James decreased their price objective on Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Martin Marietta Materials presently has an average rating of “Moderate Buy” and an average price target of $634.36.

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 shares were 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 owns 3,523 shares in the company, valued at approximately $1,673,425. The trade was a 27.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Michael J. Petro bought 550 shares of the company’s stock in a transaction 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 transaction, the senior vice president now directly owns 8,985 shares in the company, 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 currently owned by corporate insiders.

Martin Marietta Materials Stock Up 2.5 %

Shares of MLM opened at $489.30 on Tuesday. The company has a market capitalization of $29.83 billion, a P/E ratio of 15.13, a PEG ratio of 4.45 and a beta of 0.89. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. Martin Marietta Materials, Inc. has a one year low of $448.50 and a one year high of $633.23. The business’s 50 day simple moving average is $513.52 and its 200-day simple moving average is $540.64.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, topping 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%. As a group, sell-side analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.77%.

About Martin Marietta Materials

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.