Procyon Advisors LLC Boosts Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Procyon Advisors LLC lifted its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 8.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,381 shares of the construction company’s stock after purchasing an additional 182 shares during the quarter. Procyon Advisors LLC’s holdings in Martin Marietta Materials were worth $1,188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Exchange Traded Concepts LLC purchased a new position in shares of Martin Marietta Materials in the 4th quarter worth about $27,000. MV Capital Management Inc. increased 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 worth $27,000 after buying an additional 39 shares in the last quarter. Covestor Ltd increased its holdings in Martin Marietta Materials by 84.6% in the 3rd quarter. Covestor Ltd now owns 72 shares of the construction company’s stock worth $30,000 after buying an additional 33 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC bought a new stake in Martin Marietta Materials in the 3rd quarter worth about $30,000. Finally, Halpern Financial Inc. increased its holdings in Martin Marietta Materials by 418.8% in the 3rd quarter. Halpern Financial Inc. now owns 83 shares of the construction company’s stock worth $34,000 after buying an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

NYSE MLM traded down $0.46 during trading hours on Thursday, reaching $611.40. The company’s stock had a trading volume of 30,817 shares, compared to its average volume of 399,992. The firm’s 50-day moving average price is $555.91 and its 200-day moving average price is $488.66. The company has a quick ratio of 2.50, a current ratio of 3.35 and a debt-to-equity ratio of 0.49. Martin Marietta Materials, Inc. has a 1 year low of $332.13 and a 1 year high of $617.08. The company has a market capitalization of $37.80 billion, a price-to-earnings ratio of 32.49, a PEG ratio of 2.96 and a beta of 0.95.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Wednesday, February 14th. The construction company reported $4.63 EPS for the quarter, topping analysts’ consensus estimates of $3.96 by $0.67. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.62 billion. Martin Marietta Materials had a return on equity of 15.77% and a net margin of 17.25%. The firm’s 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, equities research analysts predict that Martin Marietta Materials, Inc. will post 21.25 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Monday, March 4th will be issued a dividend of $0.74 per share. The ex-dividend date is Friday, March 1st. This represents a $2.96 annualized dividend and a dividend yield of 0.48%. Martin Marietta Materials’s dividend payout ratio (DPR) is 15.72%.

Insider Transactions at Martin Marietta Materials

In other news, Director Sue W. Cole sold 1,724 shares of the business’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 transaction, the director now owns 19,793 shares of the company’s stock, valued at approximately $10,757,099.64. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Sue W. Cole sold 1,724 shares of the business’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 transaction, the director now owns 19,793 shares of the company’s stock, valued at approximately $10,757,099.64. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO C Howard Nye sold 15,000 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $81,357,566.40. The disclosure for this sale can be found here. Insiders have sold 26,724 shares of company stock valued at $16,033,760 in the last ninety days. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on MLM. Truist Financial lifted their price objective on Martin Marietta Materials from $550.00 to $610.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. StockNews.com downgraded Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Friday, February 9th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $600.00 price objective (up from $530.00) on shares of Martin Marietta Materials in a report on Friday, March 22nd. The Goldman Sachs Group lifted their price objective on Martin Marietta Materials from $560.00 to $642.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Finally, Raymond James boosted their price target on Martin Marietta Materials from $505.00 to $555.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Martin Marietta Materials has an average rating of “Moderate Buy” and a consensus target price of $564.85.

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.