Fayez Sarofim & Co Acquires 213 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Fayez Sarofim & Co boosted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 12.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,890 shares of the construction company’s stock after purchasing an additional 213 shares during the period. Fayez Sarofim & Co’s holdings in Martin Marietta Materials were worth $976,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of research firms have issued reports on MLM. Barclays decreased their price objective on shares of Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Truist Financial dropped their price objective on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Loop Capital decreased their target price on Martin Marietta Materials from $645.00 to $615.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. Seaport Res Ptn upgraded shares of Martin Marietta Materials to a “strong-buy” rating in a report on Friday, March 21st. Finally, Stephens dropped their target price on shares of Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $599.62.

Martin Marietta Materials Trading Down 1.7 %

NYSE MLM opened at $485.91 on Tuesday. The stock’s fifty day moving average price is $485.78 and its 200-day moving average price is $532.28. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. The stock has a market cap of $29.45 billion, a P/E ratio of 15.03, a P/E/G ratio of 4.45 and a beta of 0.81. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $633.23.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, beating analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. As a group, equities analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were paid a dividend of $0.79 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $3.16 annualized dividend and a yield of 0.65%. Martin Marietta Materials’s dividend payout ratio is 9.77%.

Insiders Place Their Bets

In related news, SVP Michael J. Petro acquired 550 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average cost of $454.37 per share, with a total value of $249,903.50. Following the completion of the acquisition, the senior vice president now directly owns 8,985 shares of the company’s stock, valued at approximately $4,082,514.45. This trade represents a 6.52 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Donald A. Mccunniff sold 1,332 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total transaction of $632,700.00. Following the completion of the sale, the executive vice president now owns 3,523 shares in the company, valued at $1,673,425. This represents a 27.44 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.

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.