Truist Financial Corp Purchases 8,119 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Truist Financial Corp boosted its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 9.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,514 shares of the construction company’s stock after purchasing an additional 8,119 shares during the period. Truist Financial Corp owned 0.16% of Martin Marietta Materials worth $49,149,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Bryn Mawr Capital Management LLC lifted its holdings in Martin Marietta Materials by 128.0% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 7,241 shares of the construction company’s stock worth $3,613,000 after buying an additional 4,065 shares in the last quarter. Syon Capital LLC boosted its position in shares of Martin Marietta Materials by 16.7% in the 4th quarter. Syon Capital LLC now owns 916 shares of the construction company’s stock worth $457,000 after purchasing an additional 131 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in Martin Marietta Materials by 1.6% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,564 shares of the construction company’s stock worth $780,000 after buying an additional 25 shares during the last quarter. Atria Wealth Solutions Inc. raised its position in shares of Martin Marietta Materials by 3.4% in the 4th quarter. Atria Wealth Solutions Inc. now owns 3,645 shares of the construction company’s stock valued at $1,818,000 after acquiring an additional 119 shares during the period. Finally, Harvest Fund Management Co. Ltd raised its holdings in Martin Marietta Materials by 58.2% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 644 shares of the construction company’s stock worth $321,000 after purchasing an additional 237 shares during the period. Institutional investors own 95.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MLM shares. Raymond James boosted their price objective on Martin Marietta Materials from $505.00 to $555.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Stephens raised their price objective on Martin Marietta Materials from $575.00 to $605.00 and gave the company an “overweight” rating in a report on Friday, February 16th. HSBC raised Martin Marietta Materials from a “reduce” rating to a “hold” rating and increased their price objective for the company from $376.00 to $543.00 in a report on Thursday, February 22nd. Wolfe Research lowered shares of Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research report on Friday, March 8th. Finally, Truist Financial boosted their price objective on Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $588.69.

Insider Transactions at Martin Marietta Materials

In related news, EVP Roselyn R. Bar sold 10,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $603.29, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO C Howard Nye sold 15,000 shares of the business’s 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 sale, the chief executive officer now owns 134,640 shares of the company’s stock, valued at $81,357,566.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Roselyn R. Bar sold 10,000 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $603.29, for a total transaction of $6,032,900.00. Following the sale, the executive vice president now directly owns 59,970 shares in the company, valued at approximately $36,179,301.30. 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 ninety days. Company insiders own 0.61% of the company’s stock.

Martin Marietta Materials Trading Up 1.3 %

MLM opened at $604.99 on Friday. The firm has a market capitalization of $37.34 billion, a PE ratio of 32.13, a P/E/G ratio of 2.93 and a beta of 0.96. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.35 and a quick ratio of 2.50. Martin Marietta Materials, Inc. has a fifty-two week low of $345.03 and a fifty-two week high of $626.67. The company’s 50-day moving average is $593.37 and its 200 day moving average is $516.59.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Wednesday, February 14th. The construction company reported $4.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.96 by $0.67. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate 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 period in the previous year, the firm earned $3.04 EPS. As a group, research analysts predict that Martin Marietta Materials, Inc. will post 21.3 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 4th were given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Friday, March 1st. Martin Marietta Materials’s dividend payout ratio is presently 15.72%.

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.