Bank of Montreal Can Lowers Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Bank of Montreal Can lessened its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 7.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,910 shares of the construction company’s stock after selling 3,737 shares during the period. Bank of Montreal Can owned about 0.08% of Martin Marietta Materials worth $25,262,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Lee Danner & Bass Inc. purchased a new stake in Martin Marietta Materials in the fourth quarter valued at approximately $28,000. Whipplewood Advisors LLC purchased a new stake in shares of Martin Marietta Materials during the 4th quarter valued at about $32,000. Kestra Investment Management LLC purchased a new position in Martin Marietta Materials in the 4th quarter worth approximately $35,000. Hopwood Financial Services Inc. purchased a new position in Martin Marietta Materials in the 4th quarter worth approximately $36,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Martin Marietta Materials by 91.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company’s stock valued at $37,000 after purchasing an additional 34 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Insider Transactions at Martin Marietta Materials

In other news, SVP Michael J. Petro bought 550 shares of Martin Marietta Materials stock in a transaction on Tuesday, March 4th. The stock was purchased at an average cost of $454.37 per share, with a total value of $249,903.50. Following the purchase, the senior vice president now directly owns 8,985 shares of the company’s stock, valued at approximately $4,082,514.45. This trade represents a 6.52 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Donald A. Mccunniff sold 1,332 shares of the firm’s stock in a transaction that occurred 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 owns 3,523 shares in the company, valued at $1,673,425. The trade was 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.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Morgan Stanley lowered their price target 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. Stifel Nicolaus began coverage on Martin Marietta Materials in a research note on Tuesday, March 4th. They set a “buy” rating and a $559.00 target price for the company. JPMorgan Chase & Co. cut Martin Marietta Materials from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $640.00 to $560.00 in a research note on Wednesday, March 19th. 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. Finally, Stephens cut their target price on Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Martin Marietta Materials has a consensus rating of “Moderate Buy” and a consensus target price of $609.43.

Martin Marietta Materials Stock Up 3.4 %

MLM stock opened at $491.66 on Friday. The firm has a market cap of $29.98 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 4.45 and a beta of 0.81. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $633.23. The firm has a fifty day moving average price of $490.42 and a two-hundred day moving average price of $533.79. 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 EPS for the quarter, beating the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. Research analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend was Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.77%.

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.