Martin Marietta Materials, Inc. (NYSE:MLM) Shares Purchased by ProShare Advisors LLC

ProShare Advisors LLC boosted its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 8.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,395 shares of the construction company’s stock after buying an additional 834 shares during the quarter. ProShare Advisors LLC’s holdings in Martin Marietta Materials were worth $5,369,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in MLM. Lee Danner & Bass Inc. acquired a new stake in shares of Martin Marietta Materials in the 4th quarter worth approximately $28,000. Whipplewood Advisors LLC acquired a new stake in Martin Marietta Materials in the fourth quarter valued at $32,000. Kestra Investment Management LLC acquired a new position in shares of Martin Marietta Materials during the 4th quarter worth $35,000. Hopwood Financial Services Inc. acquired a new position in shares of Martin Marietta Materials during the 4th quarter worth $36,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Martin Marietta Materials by 91.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company’s stock worth $37,000 after buying an additional 34 shares in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Michael J. Petro bought 550 shares of Martin Marietta Materials stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average price of $454.37 per share, for a total transaction of $249,903.50. Following the completion of the acquisition, the senior vice president now owns 8,985 shares of the company’s stock, valued at $4,082,514.45. The trade was a 6.52% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Donald A. Mccunniff sold 1,332 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total value of $632,700.00. Following the sale, the executive vice president now owns 3,523 shares of the company’s stock, valued at $1,673,425. This represents a 27.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.69% of the company’s stock.

Martin Marietta Materials Stock Up 2.1%

MLM opened at $564.51 on Monday. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $633.23. The business has a 50-day moving average of $499.71 and a two-hundred day moving average of $528.22. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. The stock has a market capitalization of $34.03 billion, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, April 30th. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.02. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period last year, the company earned $1.93 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. On average, research analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.79 per share. The ex-dividend date is Monday, June 2nd. This represents a $3.16 annualized dividend and a dividend yield of 0.56%. Martin Marietta Materials’s dividend payout ratio is presently 18.20%.

Analysts Set New Price Targets

MLM has been the topic of a number of research reports. Loop Capital lowered their price objective on shares of Martin Marietta Materials from $645.00 to $615.00 and set a “buy” rating on the stock in a research note on Tuesday, April 1st. UBS Group raised shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $548.00 to $634.00 in a research note on Friday. Stifel Nicolaus upped their target price on Martin Marietta Materials from $559.00 to $609.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Truist Financial lowered their target price on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, Seaport Res Ptn raised Martin Marietta Materials to a “strong-buy” rating in a report on Friday, March 21st. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $610.69.

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.