Whittier Trust Co. of Nevada Inc. Grows Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Whittier Trust Co. of Nevada Inc. lifted its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 1.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,177 shares of the construction company’s stock after acquiring an additional 88 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Martin Marietta Materials were worth $3,190,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Whipplewood Advisors LLC acquired a new stake in shares of Martin Marietta Materials during the 4th quarter worth approximately $32,000. Kestra Investment Management LLC acquired a new stake in Martin Marietta Materials during the fourth quarter valued at $35,000. Hopwood Financial Services Inc. purchased a new position in Martin Marietta Materials in the fourth quarter valued at $36,000. EverSource Wealth Advisors LLC raised its position in shares of Martin Marietta Materials by 91.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company’s stock worth $37,000 after acquiring an additional 34 shares during the period. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Martin Marietta Materials during the 4th quarter worth about $41,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock opened at $477.49 on Friday. The business’s 50 day moving average price is $511.26 and its 200 day moving average price is $539.18. The company has a market cap of $29.11 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 4.45 and a beta of 0.89. 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, Inc. has a one year low of $448.50 and a one year high of $633.23.

Martin Marietta Materials (NYSE:MLM) last posted 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%. On average, research analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.66%. Martin Marietta Materials’s dividend payout ratio is currently 9.77%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MLM shares. Stifel Nicolaus initiated coverage on Martin Marietta Materials in a research note on Tuesday, March 4th. They issued a “buy” rating and a $559.00 price target for the company. BNP Paribas downgraded Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Hsbc Global Res raised shares of Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. HSBC raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price target for the company in a report on Wednesday, December 11th. Finally, Truist Financial decreased their price objective 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. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $628.64.

Insider Activity at Martin Marietta Materials

In other Martin Marietta Materials news, EVP Donald A. Mccunniff sold 1,332 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total value of $632,700.00. Following the transaction, the executive vice president now owns 3,523 shares of the company’s stock, valued at $1,673,425. This represents a 27.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Michael J. Petro purchased 550 shares of the company’s stock in a transaction 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 transaction, the senior vice president now owns 8,985 shares of the company’s stock, valued at approximately $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 currently owned by insiders.

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.