1,164 Shares in Martin Marietta Materials, Inc. (NYSE:MLM) Bought by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC purchased a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,164 shares of the construction company’s stock, valued at approximately $581,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of MLM. Pinnacle Bancorp Inc. acquired a new stake in Martin Marietta Materials during the 4th quarter valued at $26,000. Exchange Traded Concepts LLC bought a new position in shares of Martin Marietta Materials in the fourth quarter valued at about $27,000. Benjamin Edwards Inc. lifted its stake in shares of Martin Marietta Materials by 78.8% during the 4th quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock worth $29,000 after buying an additional 26 shares during the last quarter. Oliver Lagore Vanvalin Investment Group boosted its holdings in shares of Martin Marietta Materials by 74.3% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 61 shares of the construction company’s stock worth $30,000 after buying an additional 26 shares during the period. Finally, MV Capital Management Inc. raised its holdings 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 valued at $27,000 after acquiring an additional 39 shares during the period. Institutional investors own 95.04% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. HSBC upgraded Martin Marietta Materials from a “reduce” rating to a “hold” rating and increased their target price for the stock from $376.00 to $543.00 in a research note on Thursday, February 22nd. StockNews.com upgraded Martin Marietta Materials from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Raymond James increased their target price on Martin Marietta Materials from $505.00 to $555.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Truist Financial raised their price objective on Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $600.00 price objective (up previously from $530.00) on shares of Martin Marietta Materials in a research note on Friday, March 22nd. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $598.17.

Martin Marietta Materials Price Performance

Martin Marietta Materials stock opened at $598.81 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.41 and a current ratio of 3.16. Martin Marietta Materials, Inc. has a 52 week low of $389.90 and a 52 week high of $626.67. The stock has a market capitalization of $36.91 billion, a P/E ratio of 17.74, a price-to-earnings-growth ratio of 2.80 and a beta of 0.95. The stock has a fifty day moving average of $600.19 and a 200-day moving average of $525.61.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.05. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the firm earned $2.16 EPS. Martin Marietta Materials’s revenue was down 7.6% on a year-over-year basis. On average, sell-side analysts expect that Martin Marietta Materials, Inc. will post 21.7 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 4th were issued a dividend of $0.74 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.49%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 8.77%.

Insider Transactions at Martin Marietta Materials

In related news, EVP Roselyn R. Bar sold 10,000 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 59,970 shares in the company, valued at approximately $36,179,301.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Roselyn R. Bar sold 10,000 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 59,970 shares in the company, valued at approximately $36,179,301.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO C Howard Nye sold 15,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $604.26, for a total value of $9,063,900.00. Following the sale, the chief executive officer now owns 134,640 shares in the company, valued at approximately $81,357,566.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,724 shares of company stock valued at $16,033,760. Corporate insiders own 0.68% of the company’s stock.

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.