Lindbrook Capital LLC Acquires 79 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Lindbrook Capital LLC lifted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 112.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 149 shares of the construction company’s stock after purchasing an additional 79 shares during the period. Lindbrook Capital LLC’s holdings in Martin Marietta Materials were worth $74,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. abrdn plc increased its stake in Martin Marietta Materials by 49.5% during the fourth quarter. abrdn plc now owns 39,469 shares of the construction company’s stock valued at $19,691,000 after acquiring an additional 13,071 shares during the period. Greenleaf Trust increased its stake in Martin Marietta Materials by 11.3% during the fourth quarter. Greenleaf Trust now owns 1,109 shares of the construction company’s stock valued at $553,000 after acquiring an additional 113 shares during the period. Schear Investment Advisers LLC increased its stake in 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 valued at $822,000 after acquiring an additional 20 shares during the period. Ninepoint Partners LP bought a new position in Martin Marietta Materials during the fourth quarter valued at about $1,113,000. Finally, Grunden Financial Advisory Inc. bought a new position in Martin Marietta Materials during the fourth quarter valued at about $212,000. 95.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MLM. Citigroup boosted their price target 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. StockNews.com downgraded Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Raymond James lifted their price objective on Martin Marietta Materials from $505.00 to $555.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Stephens lifted their price objective on Martin Marietta Materials from $575.00 to $605.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Finally, HSBC raised Martin Marietta Materials from a “reduce” rating to a “hold” rating and lifted their price objective 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 issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $588.69.

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 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 transaction, the executive vice president now owns 59,970 shares of the company’s stock, valued at approximately $36,179,301.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Martin Marietta Materials news, 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 transaction of $936,959.52. Following the completion of the sale, the director now owns 19,793 shares in the company, valued at approximately $10,757,099.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $6,032,900.00. Following the sale, the executive vice president now owns 59,970 shares of the company’s stock, valued at approximately $36,179,301.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,724 shares of company stock valued at $16,033,760. 0.61% of the stock is currently owned by corporate insiders.

Martin Marietta Materials Stock Down 0.4 %

Shares of MLM opened at $591.82 on Thursday. The business’s 50 day simple moving average is $590.82 and its 200-day simple moving average is $514.16. Martin Marietta Materials, Inc. has a one year low of $343.79 and a one year high of $626.67. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.35 and a quick ratio of 2.50. The company has a market capitalization of $36.53 billion, a P/E ratio of 31.43, a PEG ratio of 2.88 and a beta of 0.96.

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

Martin Marietta Materials Dividend Announcement

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

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.