OFI Invest Asset Management Takes $15.75 Million Position in Martin Marietta Materials, Inc. (NYSE:MLM)

OFI Invest Asset Management acquired a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 31,580 shares of the construction company’s stock, valued at approximately $15,752,000.

Several other institutional investors and hedge funds also recently made changes to their positions in MLM. Proficio Capital Partners LLC grew its holdings in shares of Martin Marietta Materials by 54,277.3% during the 4th quarter. Proficio Capital Partners LLC now owns 918,432 shares of the construction company’s stock valued at $474,370,000 after purchasing an additional 916,743 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Martin Marietta Materials by 76.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock worth $876,648,000 after acquiring an additional 704,460 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Martin Marietta Materials by 23.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock worth $1,441,663,000 after acquiring an additional 506,705 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Martin Marietta Materials in the 4th quarter worth $196,374,000. Finally, FMR LLC grew its holdings in Martin Marietta Materials by 15.3% in the 3rd quarter. FMR LLC now owns 2,515,441 shares of the construction company’s stock worth $1,353,936,000 after acquiring an additional 334,605 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Insider Transactions at Martin Marietta Materials

In other Martin Marietta Materials news, SVP Michael J. Petro purchased 550 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average price of $454.37 per share, with a total value of $249,903.50. Following the completion of the purchase, the senior vice president now directly owns 8,985 shares in the company, valued at $4,082,514.45. This trade represents a 6.52 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Donald A. Mccunniff sold 1,332 shares of the stock in a transaction on Wednesday, March 5th. The shares were 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 directly owns 3,523 shares in the company, valued at approximately $1,673,425. This represents a 27.44 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Truist Financial cut their price target on shares of Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Citigroup lowered their price target on shares of Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating for the company in a research report on Monday, January 6th. HSBC raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 target price for the company in a report on Wednesday, December 11th. Barclays decreased their target price on shares of Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Finally, Morgan Stanley decreased their target price on shares of Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $634.36.

Martin Marietta Materials Stock Performance

MLM opened at $461.02 on Friday. The firm has a market cap of $28.11 billion, a P/E ratio of 14.26, a PEG ratio of 4.45 and a beta of 0.89. Martin Marietta Materials, Inc. has a 1-year low of $448.50 and a 1-year high of $633.23. The company has a 50 day simple moving average of $518.87 and a two-hundred day simple moving average of $543.22. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, topping 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%. Equities analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.77%.

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.