Martin Marietta Materials, Inc. (NYSE:MLM) Shares Bought by Park Place Capital Corp

Park Place Capital Corp raised its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 11.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 247 shares of the construction company’s stock after acquiring an additional 25 shares during the quarter. Park Place Capital Corp’s holdings in Martin Marietta Materials were worth $123,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Amalgamated Bank increased its stake in shares of Martin Marietta Materials by 2.5% during the third quarter. Amalgamated Bank now owns 16,460 shares of the construction company’s stock valued at $6,757,000 after acquiring an additional 397 shares during the period. Hudson Bay Capital Management LP acquired a new position in shares of Martin Marietta Materials during the third quarter valued at approximately $3,284,000. Cultivar Capital Inc. acquired a new position in shares of Martin Marietta Materials during the fourth quarter valued at approximately $2,260,000. Nordea Investment Management AB increased its stake in shares of Martin Marietta Materials by 2.8% during the third quarter. Nordea Investment Management AB now owns 4,050 shares of the construction company’s stock valued at $1,681,000 after acquiring an additional 111 shares during the period. Finally, Fenimore Asset Management Inc. bought a new stake in Martin Marietta Materials during the fourth quarter worth approximately $23,468,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on MLM shares. Stephens raised their target price on shares of Martin Marietta Materials from $575.00 to $605.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. JPMorgan Chase & Co. restated a “neutral” rating and set a $600.00 target price (up from $530.00) on shares of Martin Marietta Materials in a report on Friday, March 22nd. HSBC upgraded shares of Martin Marietta Materials from a “reduce” rating to a “hold” rating and raised their target price for the stock from $376.00 to $543.00 in a report on Thursday, February 22nd. Stifel Nicolaus raised their target price on shares of Martin Marietta Materials from $510.00 to $598.00 and gave the stock a “buy” rating in a report on Tuesday, December 19th. Finally, Wolfe Research cut shares of Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a report on Friday, March 8th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $577.38.

Martin Marietta Materials Trading Up 2.5 %

Martin Marietta Materials stock opened at $619.41 on Friday. The company has a 50 day moving average price of $570.92 and a 200 day moving average price of $497.38. Martin Marietta Materials, Inc. has a 52 week low of $332.13 and a 52 week high of $622.28. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.50 and a current ratio of 3.35. The firm has a market capitalization of $38.29 billion, a price-to-earnings ratio of 32.89, a P/E/G ratio of 3.03 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 EPS 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 analyst estimates of $1.62 billion. Martin Marietta Materials had a net margin of 17.25% and a return on equity of 15.77%. The company’s revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the business posted $3.04 EPS. Research analysts forecast that Martin Marietta Materials, Inc. will post 21.09 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 4th were paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Friday, March 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 15.72%.

Insider Buying and Selling at Martin Marietta Materials

In other Martin Marietta Materials 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 owns 19,793 shares of the company’s stock, valued at approximately $10,757,099.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Martin Marietta Materials 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 owns 19,793 shares of the company’s stock, valued at approximately $10,757,099.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Roselyn R. Bar sold 10,000 shares of Martin Marietta Materials 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 directly 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. Insiders sold 26,724 shares of company stock valued at $16,033,760 in the last quarter. Company insiders own 0.61% of the company’s stock.

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.