N.E.W. Advisory Services LLC Makes New $257,000 Investment in Martin Marietta Materials, Inc. (NYSE:MLM)

N.E.W. Advisory Services LLC bought a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the 4th quarter, HoldingsChannel reports. The firm bought 516 shares of the construction company’s stock, valued at approximately $257,000.

A number of other large investors also recently made changes to their positions in the business. Pinnacle Bancorp Inc. purchased a new position in Martin Marietta Materials during the fourth quarter valued at approximately $26,000. MV Capital Management Inc. boosted its stake in shares of Martin Marietta Materials by 144.4% during the 3rd quarter. MV Capital Management Inc. now owns 66 shares of the construction company’s stock valued at $27,000 after buying an additional 39 shares during the period. Exchange Traded Concepts LLC purchased a new position in shares of Martin Marietta Materials during the 4th quarter valued at $27,000. Benjamin Edwards Inc. grew its holdings 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 valued at $29,000 after acquiring an additional 26 shares in the last quarter. Finally, Covestor Ltd increased its stake in shares of Martin Marietta Materials by 84.6% in the third quarter. Covestor Ltd now owns 72 shares of the construction company’s stock worth $30,000 after acquiring an additional 33 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Insider Buying and Selling at Martin Marietta Materials

In related news, CEO C Howard Nye sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $604.26, for a total transaction of $9,063,900.00. Following the completion of the transaction, the chief executive officer now owns 134,640 shares in the company, valued at approximately $81,357,566.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Martin Marietta Materials 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 value of $6,032,900.00. Following the transaction, the executive vice president now owns 59,970 shares of the company’s stock, valued at $36,179,301.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO C Howard Nye sold 15,000 shares of Martin Marietta Materials stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $604.26, for a total value of $9,063,900.00. Following the completion of the transaction, the chief executive officer now directly owns 134,640 shares of the company’s stock, valued at $81,357,566.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,724 shares of company stock valued at $16,033,760. 0.68% of the stock is currently owned by corporate insiders.

Martin Marietta Materials Stock Performance

Shares of MLM stock traded down $0.98 during mid-day trading on Tuesday, reaching $598.81. The stock had a trading volume of 329,675 shares, compared to its average volume of 418,221. The firm has a market cap of $36.91 billion, a PE ratio of 17.77, a P/E/G ratio of 2.80 and a beta of 0.95. The company has a quick ratio of 2.41, a current ratio of 3.16 and a debt-to-equity ratio of 0.44. Martin Marietta Materials, Inc. has a one year low of $389.90 and a one year high of $626.67. The firm’s 50 day simple moving average is $599.40 and its 200 day simple moving average is $524.28.

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

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 4th were paid 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 is 8.77%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MLM. Citigroup upped their target price on Martin Marietta Materials from $635.00 to $708.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $600.00 price objective (up previously from $530.00) on shares of Martin Marietta Materials in a research report on Friday, March 22nd. Truist Financial boosted their target price on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Stephens increased their price target on shares of Martin Marietta Materials from $575.00 to $605.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. Finally, The Goldman Sachs Group lifted their price objective on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Martin Marietta Materials has a consensus rating of “Moderate Buy” and a consensus price target of $598.17.

Martin Marietta Materials Company 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.