M&T Bank Corp Buys 57,721 Shares of Martin Marietta Materials, Inc. $MLM

M&T Bank Corp grew its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 403.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 72,011 shares of the construction company’s stock after purchasing an additional 57,721 shares during the period. M&T Bank Corp’s holdings in Martin Marietta Materials were worth $44,838,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of MLM. Integrated Wealth Concepts LLC boosted its stake in shares of Martin Marietta Materials by 6.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company’s stock valued at $379,000 after purchasing an additional 49 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Martin Marietta Materials by 11.4% during the 1st quarter. Empowered Funds LLC now owns 1,408 shares of the construction company’s stock valued at $673,000 after purchasing an additional 144 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in shares of Martin Marietta Materials by 11.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 510 shares of the construction company’s stock valued at $280,000 after purchasing an additional 51 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Martin Marietta Materials by 205.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 260 shares of the construction company’s stock valued at $143,000 after purchasing an additional 175 shares in the last quarter. Finally, Cresset Asset Management LLC boosted its stake in shares of Martin Marietta Materials by 22.6% during the 2nd quarter. Cresset Asset Management LLC now owns 777 shares of the construction company’s stock valued at $427,000 after purchasing an additional 143 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Down 0.5%

Shares of Martin Marietta Materials stock opened at $611.26 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.36 and a current ratio of 3.57. The stock has a market capitalization of $36.83 billion, a PE ratio of 32.51, a price-to-earnings-growth ratio of 2.22 and a beta of 1.19. Martin Marietta Materials, Inc. has a 52-week low of $490.31 and a 52-week high of $710.97. The company has a 50-day simple moving average of $621.96 and a two-hundred day simple moving average of $628.83.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Wednesday, February 11th. The construction company reported $4.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($0.19). The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period last year, the firm posted $4.79 earnings per share. On average, analysts anticipate that Martin Marietta Materials, Inc. will post 19.85 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 2nd were issued a $0.83 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $3.32 annualized dividend and a yield of 0.5%. Martin Marietta Materials’s payout ratio is 17.66%.

Wall Street Analyst Weigh In

MLM has been the topic of several research reports. Royal Bank Of Canada reissued a “sector perform” rating and set a $630.00 price objective on shares of Martin Marietta Materials in a research note on Thursday, February 26th. Jefferies Financial Group reissued a “buy” rating and set a $785.00 price objective on shares of Martin Marietta Materials in a research note on Thursday, February 26th. DA Davidson set a $680.00 price objective on shares of Martin Marietta Materials in a research note on Thursday, February 12th. Loop Capital lowered shares of Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 price objective on the stock. in a research note on Wednesday, January 28th. Finally, Weiss Ratings lowered shares of Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, February 23rd. Nine equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $692.06.

About Martin Marietta Materials

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.