Assetmark Inc. Raises Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Assetmark Inc. lifted its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 92.6% in the 4th quarter, Holdings Channel reports. The firm owned 14,345 shares of the construction company’s stock after acquiring an additional 6,895 shares during the period. Assetmark Inc.’s holdings in Martin Marietta Materials were worth $7,157,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Quest Partners LLC bought a new stake in Martin Marietta Materials in the 4th quarter worth approximately $588,000. Corient Private Wealth LLC lifted its position in Martin Marietta Materials by 306.8% in the 4th quarter. Corient Private Wealth LLC now owns 161,690 shares of the construction company’s stock worth $80,668,000 after buying an additional 121,941 shares during the last quarter. D.A. Davidson & CO. lifted its position in Martin Marietta Materials by 10.5% in the 4th quarter. D.A. Davidson & CO. now owns 10,155 shares of the construction company’s stock worth $5,067,000 after buying an additional 964 shares during the last quarter. Coldstream Capital Management Inc. lifted its position in Martin Marietta Materials by 5.7% in the 4th quarter. Coldstream Capital Management Inc. now owns 902 shares of the construction company’s stock worth $450,000 after buying an additional 49 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Martin Marietta Materials by 1.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 37,882 shares of the construction company’s stock worth $18,900,000 after buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Insider Buying and Selling

In related news, CEO C Howard Nye sold 15,000 shares of the company’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 directly owns 134,640 shares of the company’s stock, valued at $81,357,566.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO C Howard Nye sold 15,000 shares of the company’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 directly owns 134,640 shares of the company’s stock, valued at $81,357,566.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Roselyn R. Bar sold 10,000 shares of the company’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 completion of the sale, the executive vice president now directly owns 59,970 shares in the company, valued at $36,179,301.30. The disclosure for this sale can be found here. 0.68% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MLM shares. Wolfe Research downgraded Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research report on Friday, March 8th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $600.00 price objective (up previously from $530.00) on shares of Martin Marietta Materials in a research report on Friday, March 22nd. The Goldman Sachs Group boosted their price objective on Martin Marietta Materials from $642.00 to $737.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Truist Financial boosted their price objective on Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Finally, Stifel Nicolaus boosted their price objective on Martin Marietta Materials from $621.00 to $650.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Martin Marietta Materials has a consensus rating of “Moderate Buy” and a consensus price target of $610.27.

Martin Marietta Materials Price Performance

MLM opened at $573.78 on Thursday. 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 $35.37 billion, a PE ratio of 17.00, a price-to-earnings-growth ratio of 2.74 and a beta of 0.95. The stock’s 50 day moving average price is $599.75 and its 200-day moving average price is $538.46.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the firm earned $2.16 earnings per share. The business’s revenue was down 7.6% compared to the same quarter last year. On average, equities research analysts predict that Martin Marietta Materials, Inc. will post 21.88 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be paid a $0.74 dividend. The ex-dividend date is Monday, June 3rd. This represents a $2.96 annualized dividend and a yield of 0.52%. Martin Marietta Materials’s payout ratio is 8.77%.

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.