Mackenzie Financial Corp Sells 418 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Mackenzie Financial Corp trimmed its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 7.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,877 shares of the construction company’s stock after selling 418 shares during the period. Mackenzie Financial Corp’s holdings in Martin Marietta Materials were worth $2,433,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. CWM LLC boosted its holdings in shares of Martin Marietta Materials by 2.1% during the 3rd quarter. CWM LLC now owns 1,478 shares of the construction company’s stock worth $607,000 after buying an additional 31 shares during the period. HB Wealth Management LLC boosted its holdings in Martin Marietta Materials by 11.0% during the third quarter. HB Wealth Management LLC now owns 926 shares of the construction company’s stock valued at $380,000 after acquiring an additional 92 shares during the period. Flagship Harbor Advisors LLC acquired a new stake in shares of Martin Marietta Materials in the third quarter valued at about $287,000. GHP Investment Advisors Inc. increased its stake in shares of Martin Marietta Materials by 2.3% in the third quarter. GHP Investment Advisors Inc. now owns 14,683 shares of the construction company’s stock worth $6,258,000 after purchasing an additional 331 shares during the period. Finally, Caprock Group LLC lifted its position in shares of Martin Marietta Materials by 3.3% during the 3rd quarter. Caprock Group LLC now owns 1,751 shares of the construction company’s stock worth $719,000 after purchasing an additional 56 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MLM. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $600.00 target price (up previously from $530.00) on shares of Martin Marietta Materials in a report on Friday, March 22nd. Morgan Stanley began coverage on shares of Martin Marietta Materials in a research note on Monday, January 8th. They set an “overweight” rating and a $595.00 target price for the company. Truist Financial boosted their price objective on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Citigroup lifted their target price on Martin Marietta Materials from $635.00 to $708.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Finally, HSBC raised Martin Marietta Materials from a “reduce” rating to a “hold” rating and upped their price target for the company from $376.00 to $543.00 in a report on Thursday, February 22nd. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $588.69.

Insiders Place Their Bets

In related news, EVP Roselyn R. Bar sold 10,000 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 59,970 shares in the company, valued at approximately $36,179,301.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO C Howard Nye sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $604.26, for a total value of $9,063,900.00. Following the completion of the sale, the chief executive officer now owns 134,640 shares of the company’s stock, valued at $81,357,566.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Roselyn R. Bar sold 10,000 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $603.29, for a total value of $6,032,900.00. Following the completion of the transaction, the executive vice president now owns 59,970 shares in the company, valued at $36,179,301.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,724 shares of company stock valued at $16,033,760. 0.59% of the stock is currently owned by corporate insiders.

Martin Marietta Materials Stock Up 1.5 %

Shares of NYSE MLM opened at $584.32 on Tuesday. Martin Marietta Materials, Inc. has a 52-week low of $343.79 and a 52-week high of $626.67. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.50 and a current ratio of 3.35. The business has a fifty day moving average of $588.42 and a two-hundred day moving average of $512.48. The stock has a market cap of $36.06 billion, a PE ratio of 31.03, a PEG ratio of 2.79 and a beta of 0.96.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Wednesday, February 14th. The construction company reported $4.63 EPS for the quarter, beating analysts’ consensus estimates of $3.96 by $0.67. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.62 billion. Martin Marietta Materials had a net margin of 17.25% and a return on equity of 15.77%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business earned $3.04 earnings per share. As a group, equities research analysts expect that Martin Marietta Materials, Inc. will post 21.24 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 4th were given a $0.74 dividend. The ex-dividend date was Friday, March 1st. This represents a $2.96 annualized dividend and a yield of 0.51%. Martin Marietta Materials’s payout ratio is 15.72%.

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.