Kestra Private Wealth Services LLC Buys 59 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Kestra Private Wealth Services LLC increased its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 6.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 923 shares of the construction company’s stock after acquiring an additional 59 shares during the period. Kestra Private Wealth Services LLC’s holdings in Martin Marietta Materials were worth $460,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Commonwealth Equity Services LLC raised its stake in shares of Martin Marietta Materials by 1.2% in the third quarter. Commonwealth Equity Services LLC now owns 7,900 shares of the construction company’s stock valued at $3,243,000 after acquiring an additional 97 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in Martin Marietta Materials by 9.9% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 6,834 shares of the construction company’s stock valued at $2,805,000 after purchasing an additional 615 shares during the last quarter. Stratos Wealth Partners LTD. bought a new position in Martin Marietta Materials during the 3rd quarter valued at about $430,000. Forsta AP Fonden raised its position in Martin Marietta Materials by 4.3% in the 3rd quarter. Forsta AP Fonden now owns 12,200 shares of the construction company’s stock worth $5,008,000 after purchasing an additional 500 shares during the period. Finally, Mackenzie Financial Corp lifted its stake in Martin Marietta Materials by 3.6% in the third quarter. Mackenzie Financial Corp now owns 5,295 shares of the construction company’s stock worth $2,141,000 after purchasing an additional 182 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Price Performance

NYSE MLM opened at $599.79 on Tuesday. The company has a market cap of $36.97 billion, a PE ratio of 17.77, a P/E/G ratio of 2.80 and a beta of 0.95. The firm’s 50 day moving average price is $599.40 and its 200-day moving average price is $524.28. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.41 and a current ratio of 3.16. Martin Marietta Materials, Inc. has a 52-week low of $389.90 and a 52-week high of $626.67.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.05. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The business’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.16 EPS. Sell-side analysts forecast that Martin Marietta Materials, Inc. will post 21.7 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 4th were issued a $0.74 dividend. The ex-dividend date was Friday, March 1st. This represents a $2.96 dividend on an annualized basis and a yield of 0.49%. Martin Marietta Materials’s dividend payout ratio is presently 8.77%.

Insider Buying and Selling at Martin Marietta Materials

In other news, Director Sue W. Cole sold 1,724 shares of Martin Marietta Materials stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $543.48, for a total value of $936,959.52. Following the transaction, the director now owns 19,793 shares of the company’s stock, valued at approximately $10,757,099.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Sue W. Cole sold 1,724 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $543.48, for a total transaction of $936,959.52. Following the transaction, the director now directly owns 19,793 shares of the company’s stock, valued at approximately $10,757,099.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO C Howard Nye sold 15,000 shares of the stock in a transaction dated 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,724 shares of company stock valued at $16,033,760. 0.68% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on MLM shares. Stifel Nicolaus upped their target price on Martin Marietta Materials from $621.00 to $650.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Morgan Stanley initiated coverage on Martin Marietta Materials in a research note on Monday, January 8th. They issued an “overweight” rating and a $595.00 target price on the stock. StockNews.com raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Truist Financial raised their price target on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Finally, Stephens boosted their price objective on shares of Martin Marietta Materials from $575.00 to $605.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $598.17.

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.