AlphaQuest LLC Has $160,000 Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

AlphaQuest LLC reduced its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 79.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 310 shares of the construction company’s stock after selling 1,194 shares during the period. AlphaQuest LLC’s holdings in Martin Marietta Materials were worth $160,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. OFI Invest Asset Management acquired a new stake in shares of Martin Marietta Materials during the 4th quarter worth $15,752,000. Amundi grew its holdings in shares of Martin Marietta Materials by 10.5% during the 4th quarter. Amundi now owns 1,562,146 shares of the construction company’s stock worth $808,005,000 after purchasing an additional 148,065 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its holdings in shares of Martin Marietta Materials by 14.5% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 20,797 shares of the construction company’s stock worth $10,909,000 after purchasing an additional 2,639 shares in the last quarter. AMG National Trust Bank lifted its position in shares of Martin Marietta Materials by 5.5% during the 4th quarter. AMG National Trust Bank now owns 462 shares of the construction company’s stock worth $238,000 after buying an additional 24 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. lifted its position in shares of Martin Marietta Materials by 55.9% during the 4th quarter. Mesirow Financial Investment Management Inc. now owns 959 shares of the construction company’s stock worth $495,000 after buying an additional 344 shares during the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Trading Up 2.5 %

Shares of MLM stock opened at $489.30 on Tuesday. The stock has a market cap of $29.83 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 4.45 and a beta of 0.89. The stock has a 50-day moving average of $513.52 and a 200-day moving average of $540.64. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a 1-year low of $448.50 and a 1-year high of $633.23.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, beating 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%. On average, equities research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 0.65%. Martin Marietta Materials’s dividend payout ratio is currently 9.77%.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several analysts recently weighed in on MLM shares. Hsbc Global Res upgraded Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Citigroup dropped their price objective on Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Stephens dropped their price objective on 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. Barclays dropped their price objective on Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Finally, Truist Financial dropped their target price on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a research 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $634.36.

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.