abrdn plc Purchases 13,071 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

abrdn plc grew its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 49.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,469 shares of the construction company’s stock after buying an additional 13,071 shares during the quarter. abrdn plc owned 0.06% of Martin Marietta Materials worth $19,691,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Schear Investment Advisers LLC lifted its position in shares of Martin Marietta Materials by 1.2% during the 4th quarter. Schear Investment Advisers LLC now owns 1,647 shares of the construction company’s stock worth $822,000 after buying an additional 20 shares in the last quarter. Independence Bank of Kentucky lifted its position in shares of Martin Marietta Materials by 16.9% during 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 in the last quarter. Global Retirement Partners LLC lifted 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. Spreng Capital Management Inc. lifted its position in shares of Martin Marietta Materials by 3.1% during the 4th quarter. Spreng Capital Management Inc. now owns 775 shares of the construction company’s stock worth $387,000 after buying an additional 23 shares in the last quarter. Finally, Park Place Capital Corp lifted its position in shares of Martin Marietta Materials by 11.3% during the 4th quarter. Park Place Capital Corp now owns 247 shares of the construction company’s stock worth $123,000 after buying an additional 25 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Insider Buying and Selling at Martin Marietta Materials

In other Martin Marietta Materials news, Director Sue W. Cole sold 1,724 shares of the firm’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 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 the SEC website. In other news, Director Sue W. Cole sold 1,724 shares of Martin Marietta Materials stock in a transaction on Friday, February 16th. The shares were sold at an average price of $543.48, for a total transaction of $936,959.52. Following the completion of the sale, the director now directly owns 19,793 shares of the company’s stock, valued at approximately $10,757,099.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Roselyn R. Bar sold 10,000 shares of Martin Marietta Materials stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $603.29, for a total transaction of $6,032,900.00. Following the sale, the executive vice president now directly owns 59,970 shares of the company’s stock, valued at $36,179,301.30. The disclosure for this sale can be found here. Insiders sold a total of 26,724 shares of company stock valued at $16,033,760 in the last three months. Company insiders own 0.59% of the company’s stock.

Martin Marietta Materials Stock Up 1.8 %

Martin Marietta Materials stock opened at $594.68 on Wednesday. The firm has a 50 day simple moving average of $589.77 and a 200 day simple moving average of $513.61. The company has a current ratio of 3.35, a quick ratio of 2.50 and a debt-to-equity ratio of 0.49. Martin Marietta Materials, Inc. has a 1-year low of $343.79 and a 1-year high of $626.67. The firm has a market capitalization of $36.70 billion, a price-to-earnings ratio of 31.58, a P/E/G ratio of 2.83 and a beta of 0.96.

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

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 4th were issued a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Friday, March 1st. Martin Marietta Materials’s payout ratio is 15.72%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MLM shares. Raymond James lifted their target price on shares of Martin Marietta Materials from $505.00 to $555.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. StockNews.com lowered shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. 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. 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 price target for the company. Finally, HSBC upgraded shares of Martin Marietta Materials from a “reduce” rating to a “hold” rating and raised their price target for the stock from $376.00 to $543.00 in a research note on Thursday, February 22nd. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $588.69.

About Martin Marietta Materials

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.