420 Shares in Martin Marietta Materials, Inc. (NYSE:MLM) Acquired by Patrick M Sweeney & Associates Inc.

Patrick M Sweeney & Associates Inc. purchased a new position in Martin Marietta Materials, Inc. (NYSE:MLM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 420 shares of the construction company’s stock, valued at approximately $210,000.

A number of other institutional investors and hedge funds also recently modified their holdings of MLM. Amalgamated Bank lifted its holdings in shares of Martin Marietta Materials by 2.5% during the third quarter. Amalgamated Bank now owns 16,460 shares of the construction company’s stock valued at $6,757,000 after purchasing an additional 397 shares during the last quarter. Simplicity Solutions LLC increased its position in shares of Martin Marietta Materials by 166.1% in the fourth quarter. Simplicity Solutions LLC now owns 2,725 shares of the construction company’s stock worth $1,360,000 after acquiring an additional 1,701 shares in the last quarter. Hudson Bay Capital Management LP acquired a new stake in shares of Martin Marietta Materials during the third quarter valued at approximately $3,284,000. Cerity Partners LLC lifted its position in shares of Martin Marietta Materials by 199.8% in the 4th quarter. Cerity Partners LLC now owns 4,791 shares of the construction company’s stock valued at $2,390,000 after acquiring an additional 3,193 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Martin Marietta Materials by 1.5% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,739 shares of the construction company’s stock worth $2,863,000 after purchasing an additional 85 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Stifel Nicolaus increased their target price on Martin Marietta Materials from $621.00 to $650.00 and gave the company a “buy” rating in a report on Monday, April 15th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $600.00 target price (up previously from $530.00) on shares of Martin Marietta Materials in a report on Friday, March 22nd. Raymond James increased their price target on shares of Martin Marietta Materials from $505.00 to $555.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Citigroup boosted their price objective on shares of Martin Marietta Materials from $635.00 to $708.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Finally, Stephens increased their target price on shares of Martin Marietta Materials from $575.00 to $605.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $598.17.

Martin Marietta Materials Stock Performance

Shares of MLM stock traded down $0.98 during trading on Tuesday, reaching $598.81. The company had a trading volume of 329,675 shares, compared to its average volume of 418,221. The firm’s 50 day simple moving average is $600.19 and its two-hundred day simple moving average is $525.61. Martin Marietta Materials, Inc. has a one year low of $389.90 and a one year high of $626.67. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.16 and a quick ratio of 2.41. The company has a market capitalization of $36.91 billion, a PE ratio of 17.74, a PEG ratio of 2.80 and a beta of 0.95.

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

Martin Marietta Materials Dividend Announcement

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

Insider Buying and Selling at Martin Marietta Materials

In other news, Director Sue W. Cole sold 1,724 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $543.48, for a total transaction of $936,959.52. Following the completion of the transaction, the director now directly owns 19,793 shares in the company, valued at $10,757,099.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Sue W. Cole sold 1,724 shares of the business’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 legal filing with the SEC, which is accessible through the SEC website. Also, EVP Roselyn R. Bar sold 10,000 shares of the stock in a transaction dated Thursday, March 14th. The shares were 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 owns 59,970 shares of the company’s stock, valued at approximately $36,179,301.30. The disclosure for this sale can be found here. Insiders sold 26,724 shares of company stock worth $16,033,760 over the last ninety days. Company insiders own 0.68% of the company’s stock.

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.