Oliver Lagore Vanvalin Investment Group Raises Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Oliver Lagore Vanvalin Investment Group raised its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 74.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61 shares of the construction company’s stock after purchasing an additional 26 shares during the quarter. Oliver Lagore Vanvalin Investment Group’s holdings in Martin Marietta Materials were worth $30,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MLM. Independence Bank of Kentucky grew its position in shares of Martin Marietta Materials by 16.9% in the 4th quarter. Independence Bank of Kentucky now owns 152 shares of the construction company’s stock worth $76,000 after buying an additional 22 shares during the period. Global Retirement Partners LLC grew its position in shares of Martin Marietta Materials by 5.0% in the 4th quarter. Global Retirement Partners LLC now owns 460 shares of the construction company’s stock worth $228,000 after buying an additional 22 shares during the period. Spreng Capital Management Inc. grew its position in shares of Martin Marietta Materials by 3.1% in the 4th quarter. Spreng Capital Management Inc. now owns 775 shares of the construction company’s stock worth $387,000 after buying an additional 23 shares during the period. Park Place Capital Corp grew its position in shares of Martin Marietta Materials by 11.3% in the 4th quarter. Park Place Capital Corp now owns 247 shares of the construction company’s stock worth $123,000 after buying an additional 25 shares during the period. Finally, Valeo Financial Advisors LLC grew its position in shares of Martin Marietta Materials by 2.0% in the 4th quarter. Valeo Financial Advisors LLC now owns 1,260 shares of the construction company’s stock worth $629,000 after buying an additional 25 shares during the period. 95.04% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Martin Marietta Materials

In other news, CEO C Howard Nye sold 15,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 134,640 shares in the company, valued at approximately $81,357,566.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO C Howard Nye sold 15,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 134,640 shares in the company, valued at approximately $81,357,566.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sue W. Cole sold 1,724 shares of the 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 owns 19,793 shares in the company, valued at approximately $10,757,099.64. The disclosure for this sale can be found here. Insiders have sold 26,724 shares of company stock worth $16,033,760 in the last quarter. Company insiders own 0.61% of the company’s stock.

Martin Marietta Materials Price Performance

MLM opened at $587.13 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.50 and a current ratio of 3.35. The stock has a market capitalization of $36.24 billion, a P/E ratio of 31.18, a P/E/G ratio of 2.88 and a beta of 0.96. The company’s 50-day simple moving average is $586.40 and its two-hundred day simple moving average is $508.75. Martin Marietta Materials, Inc. has a 52-week low of $343.79 and a 52-week high of $626.67.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Wednesday, February 14th. The construction company reported $4.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.67. The business had revenue of $1.61 billion for 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 revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.04 EPS. As a group, analysts predict that Martin Marietta Materials, Inc. will post 21.23 EPS for the current year.

Martin Marietta Materials Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 0.50%. The ex-dividend date was Friday, March 1st. Martin Marietta Materials’s dividend payout ratio is currently 15.72%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MLM. The Goldman Sachs Group upped their target price on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a research report on Tuesday. Stifel Nicolaus upped their price target on shares of Martin Marietta Materials from $621.00 to $650.00 and gave the stock a “buy” rating in a research note on Monday. Wolfe Research cut shares of Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research note on Friday, March 8th. Morgan Stanley initiated coverage on shares of Martin Marietta Materials in a research note on Monday, January 8th. They issued an “overweight” rating and a $595.00 price target on the stock. Finally, Truist Financial upped their price target 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. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Martin Marietta Materials has an average rating of “Moderate Buy” and a consensus target price of $588.69.

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.