Assetmark Inc. Boosts Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Assetmark Inc. raised its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 31.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,624 shares of the construction company’s stock after purchasing an additional 7,991 shares during the quarter. Assetmark Inc. owned 0.06% of Martin Marietta Materials worth $17,367,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Triad Wealth Partners LLC purchased a new stake in Martin Marietta Materials during the 4th quarter valued at about $283,000. Keybank National Association OH grew its stake in Martin Marietta Materials by 5.0% during the 4th quarter. Keybank National Association OH now owns 2,637 shares of the construction company’s stock valued at $1,362,000 after purchasing an additional 126 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Martin Marietta Materials by 3.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 397,321 shares of the construction company’s stock valued at $205,216,000 after buying an additional 14,402 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in shares of Martin Marietta Materials by 64.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,028 shares of the construction company’s stock valued at $1,047,000 after buying an additional 796 shares during the period. Finally, Fidelis Capital Partners LLC lifted its holdings in shares of Martin Marietta Materials by 3.2% in the 4th quarter. Fidelis Capital Partners LLC now owns 1,106 shares of the construction company’s stock valued at $593,000 after buying an additional 34 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

NYSE MLM opened at $476.02 on Friday. Martin Marietta Materials, Inc. has a twelve month low of $451.09 and a twelve month high of $633.23. The stock has a 50-day moving average of $520.23 and a 200 day moving average of $543.69. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $29.02 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, topping the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. Sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $3.16 annualized dividend and a yield of 0.66%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 9.77%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MLM shares. JPMorgan Chase & Co. raised Martin Marietta Materials from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $515.00 to $640.00 in a report on Wednesday, November 27th. StockNews.com cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Thursday, February 20th. Raymond James decreased their price objective on Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Hsbc Global Res raised Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Finally, Loop Capital decreased their price objective on Martin Marietta Materials from $680.00 to $645.00 and set a “buy” rating for the company in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $634.36.

Insiders Place Their Bets

In other news, EVP Donald A. Mccunniff sold 1,332 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total value of $632,700.00. Following the completion of the sale, the executive vice president now directly owns 3,523 shares in the company, valued at $1,673,425. This represents a 27.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael J. Petro purchased 550 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $454.37 per share, with a total value of $249,903.50. Following the completion of the transaction, the senior vice president now directly owns 8,985 shares of the company’s stock, valued at approximately $4,082,514.45. This represents a 6.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.68% of the stock is owned by company 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.