Envestnet Asset Management Inc. Purchases 13,718 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Envestnet Asset Management Inc. boosted its position in Martin Marietta Materials, Inc. (NYSE:MLMFree Report) by 8.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 171,571 shares of the construction company’s stock after purchasing an additional 13,718 shares during the period. Envestnet Asset Management Inc. owned approximately 0.28% of Martin Marietta Materials worth $85,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of MLM. Schear Investment Advisers LLC increased its position in shares of Martin Marietta Materials by 1.2% during the fourth quarter. Schear Investment Advisers LLC now owns 1,647 shares of the construction company’s stock worth $822,000 after acquiring an additional 20 shares during the period. Parallel Advisors LLC raised its position in Martin Marietta Materials by 1.8% during the 4th quarter. Parallel Advisors LLC now owns 1,170 shares of the construction company’s stock valued at $584,000 after purchasing an additional 21 shares in the last quarter. Independence Bank of Kentucky lifted its holdings in shares of Martin Marietta Materials by 16.9% in the 4th quarter. Independence Bank of Kentucky now owns 152 shares of the construction company’s stock worth $76,000 after buying an additional 22 shares during the period. Global Retirement Partners LLC grew its position in shares of Martin Marietta Materials by 5.0% during the 4th quarter. Global Retirement Partners LLC now owns 460 shares of the construction company’s stock worth $228,000 after buying an additional 22 shares in the last quarter. Finally, Spreng Capital Management Inc. raised its holdings in shares of Martin Marietta Materials by 3.1% in the fourth quarter. Spreng Capital Management Inc. now owns 775 shares of the construction company’s stock valued at $387,000 after acquiring an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

MLM stock opened at $550.87 on Monday. Martin Marietta Materials, Inc. has a 1 year low of $389.90 and a 1 year high of $626.67. The firm has a market capitalization of $33.96 billion, a P/E ratio of 16.32, a P/E/G ratio of 2.41 and a beta of 0.93. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.16 and a quick ratio of 2.41. The business’s 50-day moving average is $589.83 and its two-hundred day moving average is $548.38.

Martin Marietta Materials (NYSE:MLMGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.05. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the firm earned $2.16 earnings per share. The firm’s quarterly revenue was down 7.6% on a year-over-year basis. Analysts anticipate that Martin Marietta Materials, Inc. will post 23.38 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be paid a dividend of $0.74 per share. The ex-dividend date is Monday, June 3rd. This represents a $2.96 dividend on an annualized basis and a yield of 0.54%. Martin Marietta Materials’s dividend payout ratio is presently 8.77%.

Insiders Place Their Bets

In related news, EVP Roselyn R. Bar sold 10,000 shares of the company’s 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 sale, the executive vice president now owns 59,970 shares in the company, valued at approximately $36,179,301.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.68% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MLM shares. Truist Financial lifted their price objective on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Stifel Nicolaus upped their price objective on Martin Marietta Materials from $621.00 to $650.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Citigroup lifted their target price on Martin Marietta Materials from $635.00 to $708.00 and gave the company a “buy” rating in a research note on Friday, April 5th. HSBC raised shares of Martin Marietta Materials from a “reduce” rating to a “hold” rating and increased their price target for the company from $376.00 to $543.00 in a research report on Thursday, February 22nd. Finally, Wolfe Research downgraded shares of Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research report on Friday, March 8th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Martin Marietta Materials has a consensus rating of “Moderate Buy” and an average target price of $610.27.

View Our Latest Stock Analysis on Martin Marietta Materials

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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