New Age Alpha Advisors LLC Invests $895,000 in Martin Marietta Materials, Inc. (NYSE:MLM)

New Age Alpha Advisors LLC purchased a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) during the fourth quarter, HoldingsChannel reports. The firm purchased 1,733 shares of the construction company’s stock, valued at approximately $895,000.

Several other hedge funds have also added to or reduced their stakes in the business. Lee Danner & Bass Inc. acquired a new position in shares of Martin Marietta Materials in the fourth quarter valued at $28,000. Whipplewood Advisors LLC bought a new stake in shares of Martin Marietta Materials during the 4th quarter worth about $32,000. Kestra Investment Management LLC acquired a new position in Martin Marietta Materials in the 4th quarter valued at about $35,000. Hopwood Financial Services Inc. bought a new position in Martin Marietta Materials in the 4th quarter valued at about $36,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Martin Marietta Materials by 91.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company’s stock worth $37,000 after acquiring an additional 34 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

NYSE:MLM opened at $478.39 on Tuesday. Martin Marietta Materials, Inc. has a twelve month low of $448.50 and a twelve month high of $633.23. 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 200 day simple moving average is $538.52. The firm has a market capitalization of $29.17 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results 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 net margin of 30.54% and a return on equity of 12.11%. On average, analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were issued a dividend of $0.79 per share. The ex-dividend date was Monday, March 3rd. This represents a $3.16 annualized dividend and a dividend yield of 0.66%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.77%.

Insider Activity

In other news, SVP Michael J. Petro bought 550 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was purchased at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the completion of the transaction, the senior vice president now owns 8,985 shares of the company’s stock, valued at $4,082,514.45. This trade represents a 6.52 % increase in their ownership of the stock. 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 Martin Marietta Materials stock in a transaction dated 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 in the company, valued at $1,673,425. The trade was 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 owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. BNP Paribas lowered Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Raymond James dropped their target price 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. Barclays decreased their price target 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. StockNews.com cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th. Finally, Morgan Stanley decreased their target price on shares of Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. 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 given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.