Brandywine Global Investment Management LLC Acquires New Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Brandywine Global Investment Management LLC bought a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 26,458 shares of the construction company’s stock, valued at approximately $13,666,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Integrated Wealth Concepts LLC boosted its stake in shares of Martin Marietta Materials by 2.5% in the third quarter. Integrated Wealth Concepts LLC now owns 782 shares of the construction company’s stock valued at $421,000 after purchasing an additional 19 shares during the period. Checchi Capital Advisers LLC boosted its position in Martin Marietta Materials by 1.4% in the 4th quarter. Checchi Capital Advisers LLC now owns 1,336 shares of the construction company’s stock valued at $690,000 after buying an additional 19 shares during the period. iA Global Asset Management Inc. grew its stake in shares of Martin Marietta Materials by 3.6% in the third quarter. iA Global Asset Management Inc. now owns 570 shares of the construction company’s stock worth $307,000 after acquiring an additional 20 shares in the last quarter. Brooklyn Investment Group increased its position in shares of Martin Marietta Materials by 4.7% during the fourth quarter. Brooklyn Investment Group now owns 447 shares of the construction company’s stock worth $231,000 after acquiring an additional 20 shares during the period. Finally, Financial Counselors Inc. raised its stake in shares of Martin Marietta Materials by 1.9% in the third quarter. Financial Counselors Inc. now owns 1,123 shares of the construction company’s stock valued at $604,000 after acquiring an additional 21 shares in the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Martin Marietta Materials

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

Martin Marietta Materials Stock Down 1.3 %

Shares of NYSE MLM opened at $477.92 on Monday. The business has a 50-day moving average price of $507.03 and a 200 day moving average price of $538.78. The stock has a market cap of $29.14 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a 52-week low of $448.50 and a 52-week high of $633.23.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, beating analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. Equities research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Loop Capital cut their price target on Martin Marietta Materials from $680.00 to $645.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Barclays cut their target price on shares of Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Citigroup decreased their price target on shares of Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating for the company in a research note on Monday, January 6th. HSBC upgraded shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price target for the company in a report on Wednesday, December 11th. Finally, Stephens decreased their price objective on shares of Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $628.64.

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.