Zurcher Kantonalbank Zurich Cantonalbank Buys 1,555 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 13.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,102 shares of the construction company’s stock after purchasing an additional 1,555 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Martin Marietta Materials were worth $6,767,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Whipplewood Advisors LLC bought a new stake in shares of Martin Marietta Materials in the 4th quarter valued at approximately $32,000. Kestra Investment Management LLC bought a new stake in shares of Martin Marietta Materials in the 4th quarter valued at approximately $35,000. R Squared Ltd bought a new stake in shares of Martin Marietta Materials in the 4th quarter valued at approximately $41,000. Retirement Wealth Solutions LLC bought a new stake in shares of Martin Marietta Materials in the 4th quarter valued at approximately $41,000. Finally, Larson Financial Group LLC bought a new stake in shares of Martin Marietta Materials in the 3rd quarter valued at approximately $49,000. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Trading Up 0.1 %

MLM opened at $465.23 on Friday. The firm has a market cap of $28.37 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 4.45 and a beta of 0.89. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a 12 month low of $448.50 and a 12 month high of $633.23. The stock has a fifty day moving average price of $514.83 and a 200-day moving average price of $541.00.

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

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $3.16 annualized dividend and a yield of 0.68%. Martin Marietta Materials’s dividend payout ratio (DPR) is 9.77%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MLM. Truist Financial lowered their price objective on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Barclays reduced their price target on Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Stifel Nicolaus started coverage on Martin Marietta Materials in a report on Tuesday, March 4th. They issued a “buy” rating and a $559.00 price target on the stock. Wolfe Research upgraded Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price target on the stock in a report on Wednesday, January 8th. Finally, HSBC upgraded Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price target on the stock in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $634.36.

Insider Buying and Selling

In related news, EVP Donald A. Mccunniff sold 1,332 shares of the business’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 transaction, the executive vice president now directly owns 3,523 shares in the company, valued at $1,673,425. The trade was a 27.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael J. Petro bought 550 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average price of $454.37 per share, for a total transaction of $249,903.50. Following the completion of the purchase, the senior vice president now owns 8,985 shares in the company, valued at $4,082,514.45. The trade was a 6.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.68% of the stock is owned by company insiders.

Martin Marietta Materials Company 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.