Allstate Corp Takes Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Allstate Corp purchased a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,815 shares of the construction company’s stock, valued at approximately $937,000.

A number of other hedge funds also recently modified their holdings of MLM. Lee Danner & Bass Inc. purchased a new stake in Martin Marietta Materials in the fourth quarter worth $28,000. Whipplewood Advisors LLC bought a new position in shares of Martin Marietta Materials during the 4th quarter worth $32,000. Kestra Investment Management LLC purchased a new stake in Martin Marietta Materials in the 4th quarter worth about $35,000. Hopwood Financial Services Inc. bought a new stake in Martin Marietta Materials in the 4th quarter valued at about $36,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in Martin Marietta Materials by 91.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company’s stock valued at $37,000 after purchasing an additional 34 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Up 0.1 %

NYSE MLM opened at $478.39 on Tuesday. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56. The stock’s 50-day simple moving average is $505.73 and its two-hundred day simple moving average is $538.52. Martin Marietta Materials, Inc. has a twelve month low of $448.50 and a twelve month high of $633.23. The company has a market capitalization of $29.17 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM) last announced 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%. Research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

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

Insider Activity at Martin Marietta Materials

In related news, SVP Michael J. Petro purchased 550 shares of Martin Marietta Materials stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the transaction, the senior vice president now directly owns 8,985 shares in the company, valued at $4,082,514.45. The trade was a 6.52 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Donald A. Mccunniff sold 1,332 shares of the business’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 completion of the sale, the executive vice president now owns 3,523 shares of the company’s stock, valued at $1,673,425. The trade was a 27.44 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MLM shares. Morgan Stanley reduced their target price on shares of Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Truist Financial reduced their price objective on shares of Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Barclays dropped their target price on Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Stifel Nicolaus assumed coverage on Martin Marietta Materials in a research report on Tuesday, March 4th. They issued a “buy” rating and a $559.00 price target for the company. Finally, Stephens dropped their price objective on Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $628.64.

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.