Proficio Capital Partners LLC Boosts Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Proficio Capital Partners LLC grew its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 5.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,778 shares of the construction company’s stock after buying an additional 89 shares during the period. Proficio Capital Partners LLC’s holdings in Martin Marietta Materials were worth $918,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MLM. Whipplewood Advisors LLC purchased a new stake in shares of Martin Marietta Materials in the 4th quarter valued at about $32,000. Kestra Investment Management LLC bought a new position in Martin Marietta Materials during the 4th quarter worth approximately $35,000. R Squared Ltd bought a new position in Martin Marietta Materials during the 4th quarter worth approximately $41,000. Retirement Wealth Solutions LLC bought a new stake in shares of Martin Marietta Materials in the 4th quarter worth approximately $41,000. Finally, Larson Financial Group LLC bought a new stake in shares of Martin Marietta Materials in the 3rd quarter worth approximately $49,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Insider Activity

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

Martin Marietta Materials Stock Performance

NYSE:MLM opened at $477.49 on Friday. 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 company has a fifty day simple moving average of $511.26 and a two-hundred day simple moving average of $539.18. The company has a market cap of $29.11 billion, a price-to-earnings ratio of 14.77, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. 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 released its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. As a group, equities analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently announced 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. 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 payout ratio is currently 9.77%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MLM. HSBC upgraded Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 target price for the company in a research note on Wednesday, December 11th. Raymond James cut 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. Citigroup cut their price objective on Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating for the company in a report on Monday, January 6th. Truist Financial cut their price target on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, Morgan Stanley dropped their price objective on 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $628.64.

About Martin Marietta Materials

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.