Toronto Dominion Bank Acquires 12,040 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Toronto Dominion Bank grew its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 53.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,708 shares of the construction company’s stock after acquiring an additional 12,040 shares during the period. Toronto Dominion Bank owned 0.06% of Martin Marietta Materials worth $17,926,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of MLM. JPMorgan Chase & Co. grew its stake in Martin Marietta Materials by 23.3% in the third quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock valued at $1,441,663,000 after purchasing an additional 506,705 shares in the last quarter. Ritholtz Wealth Management boosted its holdings in shares of Martin Marietta Materials by 13.2% in the 4th quarter. Ritholtz Wealth Management now owns 866 shares of the construction company’s stock valued at $447,000 after buying an additional 101 shares during the last quarter. Merit Financial Group LLC grew its stake in shares of Martin Marietta Materials by 10.8% in the fourth quarter. Merit Financial Group LLC now owns 808 shares of the construction company’s stock valued at $418,000 after buying an additional 79 shares in the last quarter. Ameritas Advisory Services LLC increased its holdings in Martin Marietta Materials by 37.1% during the fourth quarter. Ameritas Advisory Services LLC now owns 635 shares of the construction company’s stock worth $328,000 after buying an additional 172 shares during the last quarter. Finally, Gilman Hill Asset Management LLC raised its position in Martin Marietta Materials by 71.1% during the fourth quarter. Gilman Hill Asset Management LLC now owns 770 shares of the construction company’s stock worth $398,000 after acquiring an additional 320 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Stifel Nicolaus lifted their price objective on shares of Martin Marietta Materials from $559.00 to $609.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. cut Martin Marietta Materials from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $640.00 to $560.00 in a report on Wednesday, March 19th. StockNews.com raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Tuesday, May 6th. Barclays cut their price objective on Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Finally, Raymond James decreased their target price on Martin Marietta Materials from $600.00 to $597.00 and set an “outperform” rating on the stock in a report on Tuesday, April 29th. Three 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 data from MarketBeat, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and an average target price of $610.69.

Martin Marietta Materials Stock Up 0.8%

MLM opened at $568.38 on Tuesday. The stock has a fifty day moving average of $501.78 and a 200-day moving average of $527.68. The company has a market capitalization of $34.26 billion, a P/E ratio of 17.58, a P/E/G ratio of 4.45 and a beta of 0.89. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $633.23. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Wednesday, April 30th. The construction company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the previous year, the firm posted $1.93 EPS. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

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

Insider Buying and Selling

In other news, EVP Donald A. Mccunniff sold 1,332 shares of the company’s stock in a transaction 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 directly owns 3,523 shares in the company, valued at approximately $1,673,425. This represents a 27.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michael J. Petro bought 550 shares of Martin Marietta Materials stock in a transaction dated Tuesday, March 4th. The shares were bought at an average cost 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 in the company, valued at $4,082,514.45. This represents a 6.52% increase in their position. The disclosure for this purchase can be found here. 0.69% of the stock is currently owned by company insiders.

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.