Martin Marietta Materials, Inc. (NYSE:MLM) Shares Purchased by Douglass Winthrop Advisors LLC

Douglass Winthrop Advisors LLC boosted its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 2.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 197,762 shares of the construction company’s stock after purchasing an additional 4,174 shares during the quarter. Martin Marietta Materials comprises 2.0% of Douglass Winthrop Advisors LLC’s portfolio, making the stock its 21st biggest holding. Douglass Winthrop Advisors LLC’s holdings in Martin Marietta Materials were worth $102,144,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. HUB Investment Partners LLC purchased a new position in Martin Marietta Materials in the 4th quarter valued at approximately $415,000. Whittier Trust Co. increased its position in shares of Martin Marietta Materials by 6.8% in the fourth quarter. Whittier Trust Co. now owns 15,647 shares of the construction company’s stock valued at $8,082,000 after buying an additional 994 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of Martin Marietta Materials by 38.5% in the fourth quarter. Teacher Retirement System of Texas now owns 572 shares of the construction company’s stock valued at $295,000 after buying an additional 159 shares in the last quarter. First National Bank of Hutchinson raised its stake in shares of Martin Marietta Materials by 3.7% during the 4th quarter. First National Bank of Hutchinson now owns 1,958 shares of the construction company’s stock worth $1,011,000 after buying an additional 70 shares during the last quarter. Finally, Royal London Asset Management Ltd. grew its stake in Martin Marietta Materials by 6.9% in the 4th quarter. Royal London Asset Management Ltd. now owns 13,383 shares of the construction company’s stock valued at $6,912,000 after acquiring an additional 862 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Martin Marietta Materials

In other Martin Marietta Materials news, EVP Donald A. Mccunniff sold 1,332 shares of the business’s stock in a transaction that occurred 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 directly owns 3,523 shares in the company, valued at $1,673,425. The trade was a 27.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael J. Petro bought 550 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was acquired 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 owns 8,985 shares in the company, 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. 0.68% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on MLM. HSBC upgraded shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 target price for the company in a research report on Wednesday, December 11th. Hsbc Global Res raised Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Loop Capital dropped their price target on Martin Marietta Materials from $680.00 to $645.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. BNP Paribas downgraded Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, Truist Financial dropped their price objective on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $628.64.

Martin Marietta Materials Trading Down 1.3 %

NYSE MLM opened at $483.84 on Friday. The company has a market cap of $29.50 billion, a P/E 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 debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. The company has a 50-day moving average of $511.89 and a 200-day moving average of $539.58.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 EPS 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, equities analysts predict 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 announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Monday, March 3rd. Martin Marietta Materials’s payout ratio is currently 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.