Schechter Investment Advisors LLC Lowers Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Schechter Investment Advisors LLC reduced its position in shares of Martin Marietta Materials, Inc. (NYSE:MLMFree Report) by 4.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 472 shares of the construction company’s stock after selling 23 shares during the quarter. Schechter Investment Advisors LLC’s holdings in Martin Marietta Materials were worth $235,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. WINTON GROUP Ltd purchased a new stake in shares of Martin Marietta Materials during the 2nd quarter worth about $428,000. Amalgamated Bank lifted its stake in Martin Marietta Materials by 2.5% in the 3rd quarter. Amalgamated Bank now owns 16,460 shares of the construction company’s stock valued at $6,757,000 after buying an additional 397 shares in the last quarter. Waratah Capital Advisors Ltd. lifted its stake in Martin Marietta Materials by 121.9% in the 2nd quarter. Waratah Capital Advisors Ltd. now owns 58,015 shares of the construction company’s stock valued at $26,785,000 after buying an additional 31,867 shares in the last quarter. Hudson Bay Capital Management LP purchased a new position in Martin Marietta Materials in the 3rd quarter valued at about $3,284,000. Finally, O Shaughnessy Asset Management LLC lifted its stake in Martin Marietta Materials by 54.9% in the 2nd quarter. O Shaughnessy Asset Management LLC now owns 1,219 shares of the construction company’s stock valued at $563,000 after buying an additional 432 shares in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Up 0.3 %

Shares of NYSE MLM opened at $613.94 on Friday. The company has a 50 day simple moving average of $560.30 and a 200-day simple moving average of $491.12. The company has a market capitalization of $37.95 billion, a P/E ratio of 32.60, a P/E/G ratio of 3.00 and a beta of 0.95. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.35 and a quick ratio of 2.50. Martin Marietta Materials, Inc. has a 1 year low of $332.13 and a 1 year high of $617.08.

Martin Marietta Materials (NYSE:MLMGet Free Report) last announced its quarterly earnings results on Wednesday, February 14th. The construction company reported $4.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.96 by $0.67. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.62 billion. Martin Marietta Materials had a net margin of 17.25% and a return on equity of 15.77%. The business’s revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.04 EPS. On average, equities research analysts predict that Martin Marietta Materials, Inc. will post 21.09 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 4th were given a dividend of $0.74 per share. The ex-dividend date was Friday, March 1st. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.48%. Martin Marietta Materials’s payout ratio is currently 15.72%.

Analyst Ratings Changes

MLM has been the topic of a number of research reports. HSBC raised shares of Martin Marietta Materials from a “reduce” rating to a “hold” rating and raised their price target for the company from $376.00 to $543.00 in a research note on Thursday, February 22nd. Morgan Stanley started coverage on shares of Martin Marietta Materials in a research note on Monday, January 8th. They issued an “overweight” rating and a $595.00 price target on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $600.00 price objective (up previously from $530.00) on shares of Martin Marietta Materials in a report on Friday, March 22nd. Raymond James increased their price objective on shares of Martin Marietta Materials from $505.00 to $555.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, Truist Financial increased their price objective on shares of Martin Marietta Materials from $550.00 to $610.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $564.85.

Read Our Latest Research Report on MLM

Insider Buying and Selling

In related news, EVP Roselyn R. Bar sold 10,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $603.29, for a total transaction of $6,032,900.00. Following the completion of the transaction, the executive vice president now owns 59,970 shares of the company’s stock, valued at approximately $36,179,301.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Roselyn R. Bar sold 10,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $603.29, for a total transaction of $6,032,900.00. Following the completion of the transaction, the executive vice president now owns 59,970 shares of the company’s stock, valued at approximately $36,179,301.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO C Howard Nye sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $604.26, for a total transaction of $9,063,900.00. Following the transaction, the chief executive officer now directly owns 134,640 shares of the company’s stock, valued at approximately $81,357,566.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,724 shares of company stock valued at $16,033,760. Company insiders own 0.61% of the company’s stock.

About Martin Marietta Materials

(Free Report)

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.

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Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

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