Martin Marietta Materials, Inc. (NYSE:MLM) Stock Holdings Increased by Independence Bank of Kentucky

Independence Bank of Kentucky boosted its position in Martin Marietta Materials, Inc. (NYSE:MLMFree Report) by 16.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 152 shares of the construction company’s stock after buying an additional 22 shares during the quarter. Independence Bank of Kentucky’s holdings in Martin Marietta Materials were worth $76,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. DAVENPORT & Co LLC increased its holdings in Martin Marietta Materials by 0.8% in the fourth quarter. DAVENPORT & Co LLC now owns 423,953 shares of the construction company’s stock valued at $211,103,000 after buying an additional 3,292 shares during the last quarter. Fenimore Asset Management Inc. acquired a new position in Martin Marietta Materials in the fourth quarter valued at approximately $23,468,000. Welch Group LLC boosted its stake in Martin Marietta Materials by 7.8% in the fourth quarter. Welch Group LLC now owns 1,374 shares of the construction company’s stock valued at $686,000 after acquiring an additional 100 shares during the period. First Citizens Bank & Trust Co. acquired a new position in Martin Marietta Materials in the fourth quarter valued at approximately $209,000. Finally, Fifth Third Bancorp boosted its stake in Martin Marietta Materials by 3.4% in the fourth quarter. Fifth Third Bancorp now owns 2,130 shares of the construction company’s stock valued at $1,063,000 after acquiring an additional 70 shares during the period. 95.04% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Raymond James lifted their target price on Martin Marietta Materials from $505.00 to $555.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Stifel Nicolaus lifted their target price on Martin Marietta Materials from $510.00 to $598.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th. StockNews.com downgraded Martin Marietta Materials from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Truist Financial lifted their target price on Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $600.00 price objective (up from $530.00) on shares of Martin Marietta Materials in a research report on Friday, March 22nd. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $571.77.

View Our Latest Stock Report on Martin Marietta Materials

Insiders Place Their Bets

In other Martin Marietta Materials news, EVP Roselyn R. Bar sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was 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 directly owns 59,970 shares in the company, valued at $36,179,301.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Martin Marietta Materials news, EVP Roselyn R. Bar sold 10,000 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $603.29, for a total value of $6,032,900.00. Following the transaction, the executive vice president now owns 59,970 shares of the company’s stock, valued at $36,179,301.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sue W. Cole sold 1,724 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 19,793 shares in the company, valued at approximately $10,757,099.64. The disclosure for this sale can be found here. Insiders sold 26,724 shares of company stock worth $16,033,760 over the last ninety days. Company insiders own 0.61% of the company’s stock.

Martin Marietta Materials Stock Performance

MLM opened at $610.38 on Thursday. The company has a market capitalization of $37.73 billion, a price-to-earnings ratio of 32.42, a price-to-earnings-growth ratio of 2.94 and a beta of 0.96. 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. The business has a 50 day moving average price of $566.58 and a two-hundred day moving average price of $494.77.

Martin Marietta Materials (NYSE:MLMGet Free Report) last released its earnings results on Wednesday, February 14th. The construction company reported $4.63 earnings per share for the quarter, topping analysts’ consensus estimates of $3.96 by $0.67. The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.62 billion. Martin Marietta Materials had a return on equity of 15.77% and a net margin of 17.25%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.04 earnings per share. Research analysts predict that Martin Marietta Materials, Inc. will post 21.09 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 given a $0.74 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $2.96 dividend on an annualized basis and a yield of 0.48%. Martin Marietta Materials’s dividend payout ratio (DPR) is 15.72%.

Martin Marietta Materials Company Profile

(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.

See Also

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

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