Procyon Advisors LLC Purchases 182 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Procyon Advisors LLC grew its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 8.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,381 shares of the construction company’s stock after acquiring an additional 182 shares during the period. Procyon Advisors LLC’s holdings in Martin Marietta Materials were worth $1,188,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. MV Capital Management Inc. raised its stake in Martin Marietta Materials by 144.4% in the 3rd quarter. MV Capital Management Inc. now owns 66 shares of the construction company’s stock worth $27,000 after purchasing an additional 39 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Martin Marietta Materials in the 4th quarter valued at approximately $27,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of Martin Marietta Materials in the 3rd quarter valued at approximately $30,000. Covestor Ltd lifted its stake in Martin Marietta Materials by 84.6% in the 3rd quarter. Covestor Ltd now owns 72 shares of the construction company’s stock valued at $30,000 after purchasing an additional 33 shares during the last quarter. Finally, Quarry LP acquired a new position in Martin Marietta Materials in the 1st quarter valued at approximately $30,000. Institutional investors own 95.04% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus increased their price objective on shares of Martin Marietta Materials from $510.00 to $598.00 and gave the stock a “buy” rating in a research report on Tuesday, December 19th. The Goldman Sachs Group raised their price objective on shares of Martin Marietta Materials from $560.00 to $642.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Wolfe Research lowered shares of Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research report on Friday, March 8th. Morgan Stanley started coverage on shares of Martin Marietta Materials in a research report on Monday, January 8th. They set an “overweight” rating and a $595.00 price target on the stock. Finally, Truist Financial raised their price target on shares of Martin Marietta Materials from $550.00 to $610.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $564.85.

Insider Buying and Selling

In other Martin Marietta Materials news, Director Sue W. Cole sold 1,724 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $543.48, for a total transaction of $936,959.52. Following the transaction, the director now owns 19,793 shares in the company, valued at approximately $10,757,099.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Sue W. Cole sold 1,724 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $543.48, for a total value of $936,959.52. Following the transaction, the director now owns 19,793 shares in the company, valued at approximately $10,757,099.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Roselyn R. Bar sold 10,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $603.29, for a total transaction of $6,032,900.00. Following the completion of the sale, the executive vice president now directly owns 59,970 shares of the company’s stock, valued at $36,179,301.30. The disclosure for this sale can be found here. Insiders have sold a total of 26,724 shares of company stock worth $16,033,760 in the last quarter. Corporate insiders own 0.61% of the company’s stock.

Martin Marietta Materials Trading Down 0.1 %

Martin Marietta Materials stock traded down $0.46 during mid-day trading on Thursday, reaching $611.40. 30,817 shares of the company traded hands, compared to its average volume of 399,992. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.35 and a quick ratio of 2.50. The firm’s 50 day moving average price is $555.91 and its 200 day moving average price is $488.66. The firm has a market capitalization of $37.80 billion, a price-to-earnings ratio of 32.49, a P/E/G ratio of 2.96 and a beta of 0.95. Martin Marietta Materials, Inc. has a 52-week low of $332.13 and a 52-week high of $617.08.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Wednesday, February 14th. The construction company reported $4.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.96 by $0.67. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.62 billion. Martin Marietta Materials had a net margin of 17.25% and a return on equity of 15.77%. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.04 EPS. On average, analysts anticipate that Martin Marietta Materials, Inc. will post 21.25 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Monday, March 4th will be paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Friday, March 1st. Martin Marietta Materials’s payout ratio is 15.72%.

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.