Cookson Peirce & Co. Inc. Has $26.63 Million Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Cookson Peirce & Co. Inc. raised its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 11.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,374 shares of the construction company’s stock after buying an additional 5,586 shares during the period. Martin Marietta Materials accounts for about 1.6% of Cookson Peirce & Co. Inc.’s investment portfolio, making the stock its 20th biggest position. Cookson Peirce & Co. Inc. owned 0.09% of Martin Marietta Materials worth $26,629,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Pinnacle Bancorp Inc. bought a new position in shares of Martin Marietta Materials in the fourth quarter worth about $26,000. MV Capital Management Inc. raised its stake in shares of Martin Marietta Materials by 144.4% in the third quarter. MV Capital Management Inc. now owns 66 shares of the construction company’s stock worth $27,000 after acquiring an additional 39 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Martin Marietta Materials in the fourth quarter worth about $27,000. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Martin Marietta Materials in the third quarter worth about $30,000. Finally, Covestor Ltd raised 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. 95.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MLM has been the subject of a number of research analyst reports. 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 note on Tuesday, April 2nd. Stephens boosted 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. JPMorgan Chase & Co. reissued a “neutral” rating and set a $600.00 price target (up from $530.00) on shares of Martin Marietta Materials in a research note on Friday, March 22nd. The Goldman Sachs Group boosted their price target on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Citigroup boosted their price target on shares of Martin Marietta Materials from $635.00 to $708.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Martin Marietta Materials has a consensus rating of “Moderate Buy” and a consensus price target of $588.69.

Martin Marietta Materials Stock Down 0.4 %

Shares of Martin Marietta Materials stock traded down $2.25 on Tuesday, hitting $596.99. The company had a trading volume of 165,398 shares, compared to its average volume of 396,821. The firm has a market capitalization of $36.91 billion, a P/E ratio of 31.72, a P/E/G ratio of 2.94 and a beta of 0.96. Martin Marietta Materials, Inc. has a twelve month low of $343.79 and a twelve month high of $626.67. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.35 and a quick ratio of 2.50. The stock has a 50-day moving average of $580.39 and a 200-day moving average of $505.01.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Wednesday, February 14th. The construction company reported $4.63 earnings per share for the quarter, beating the consensus estimate of $3.96 by $0.67. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Martin Marietta Materials had a net margin of 17.25% and a return on equity of 15.77%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.04 earnings per share. Research analysts predict that Martin Marietta Materials, Inc. will post 21.09 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 4th were issued a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Friday, March 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 15.72%.

Insider Buying and Selling

In related news, Director Sue W. Cole sold 1,724 shares of the stock in a transaction on Friday, February 16th. The shares were 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 owns 19,793 shares in the company, valued at $10,757,099.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Martin Marietta Materials news, EVP Roselyn R. Bar sold 10,000 shares of the stock in a transaction on Thursday, March 14th. The shares were 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 owns 59,970 shares in the company, valued at $36,179,301.30. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Sue W. Cole sold 1,724 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $543.48, for a total transaction of $936,959.52. Following the completion of the sale, the director now owns 19,793 shares of the company’s stock, valued at approximately $10,757,099.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,724 shares of company stock worth $16,033,760. 0.59% of the stock is owned by insiders.

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.