Generali Asset Management SPA SGR Buys New Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Generali Asset Management SPA SGR bought a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,453 shares of the construction company’s stock, valued at approximately $1,783,000.

A number of other large investors have also recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its position in Martin Marietta Materials by 23.3% in the third quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock valued at $1,441,663,000 after acquiring an additional 506,705 shares during the period. FMR LLC grew its position in Martin Marietta Materials by 15.3% in the third quarter. FMR LLC now owns 2,515,441 shares of the construction company’s stock valued at $1,353,936,000 after acquiring an additional 334,605 shares during the period. Principal Financial Group Inc. grew its position in Martin Marietta Materials by 11.7% in the fourth quarter. Principal Financial Group Inc. now owns 1,819,744 shares of the construction company’s stock valued at $939,898,000 after acquiring an additional 191,043 shares during the period. Amundi grew its position in Martin Marietta Materials by 10.5% in the fourth quarter. Amundi now owns 1,562,146 shares of the construction company’s stock valued at $808,005,000 after acquiring an additional 148,065 shares during the period. Finally, Proficio Capital Partners LLC grew its position in Martin Marietta Materials by 54,277.3% in the fourth quarter. Proficio Capital Partners LLC now owns 918,432 shares of the construction company’s stock valued at $474,370,000 after acquiring an additional 916,743 shares during the period. 95.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MLM has been the topic of a number of analyst reports. Citigroup lowered their price target on Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Stephens decreased their target price 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. Hsbc Global Res upgraded Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Morgan Stanley decreased their target price on Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Finally, Truist Financial decreased their target price 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $628.64.

Martin Marietta Materials Price Performance

Martin Marietta Materials stock opened at $483.84 on Friday. The business’s 50-day simple moving average is $511.89 and its 200 day simple moving average is $539.58. The stock has a market cap of $29.50 billion, a price-to-earnings ratio of 14.97, a P/E/G ratio of 4.45 and a beta of 0.89. Martin Marietta Materials, Inc. has a 12-month low of $448.50 and a 12-month high of $633.23. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. As a group, 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 business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be paid 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 payout ratio is 9.77%.

Insider Buying and Selling at Martin Marietta Materials

In other Martin Marietta Materials news, EVP Donald A. Mccunniff sold 1,332 shares of the stock in a transaction dated 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 approximately $1,673,425. This represents a 27.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Michael J. Petro bought 550 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was bought at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the purchase, the senior vice president now directly owns 8,985 shares of the company’s stock, valued at approximately $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.

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.