HighPoint Advisor Group LLC Has $542,000 Position in Martin Marietta Materials, Inc. (NYSE:MLM)

HighPoint Advisor Group LLC raised its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 2.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,024 shares of the construction company’s stock after purchasing an additional 23 shares during the period. HighPoint Advisor Group LLC’s holdings in Martin Marietta Materials were worth $542,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Proficio Capital Partners LLC boosted its holdings in shares of Martin Marietta Materials by 54,277.3% during the 4th quarter. Proficio Capital Partners LLC now owns 918,432 shares of the construction company’s stock worth $474,370,000 after buying an additional 916,743 shares during the period. Principal Financial Group Inc. boosted its holdings in Martin Marietta Materials by 76.2% during the third quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock valued at $876,648,000 after acquiring an additional 704,460 shares during the period. Norges Bank acquired a new stake in shares of Martin Marietta Materials in the fourth quarter valued at about $306,863,000. JPMorgan Chase & Co. increased its stake in shares of Martin Marietta Materials by 23.3% in the third quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock worth $1,441,663,000 after purchasing an additional 506,705 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Martin Marietta Materials during the 4th quarter worth about $196,374,000. Institutional investors own 95.04% of the company’s stock.

Insider Activity

In other news, SVP Michael J. Petro purchased 550 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $454.37 per share, with a total value of $249,903.50. Following the acquisition, the senior vice president now directly owns 8,985 shares of the company’s stock, valued at approximately $4,082,514.45. This represents a 6.52 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Donald A. Mccunniff sold 1,332 shares of the business’s 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 completion of the transaction, the executive vice president now directly owns 3,523 shares of the company’s stock, valued at approximately $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 currently owned by company insiders.

Martin Marietta Materials Trading Up 1.6 %

Shares of NYSE MLM opened at $492.54 on Thursday. Martin Marietta Materials, Inc. has a fifty-two week low of $448.50 and a fifty-two week high of $633.23. The firm has a market capitalization of $30.03 billion, a P/E ratio of 15.23, a P/E/G ratio of 4.45 and a beta of 0.89. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. The company’s 50 day simple moving average is $503.23 and its 200 day simple moving average is $537.94.

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 return on equity of 12.11% and a net margin of 30.54%. On average, analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were given 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 0.64%. Martin Marietta Materials’s payout ratio is currently 9.77%.

Analyst Ratings Changes

A number of research firms have issued reports on MLM. Hsbc Global Res raised Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. 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 report on Thursday, February 13th. Truist Financial cut 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 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 objective for the company. Finally, Seaport Res Ptn upgraded shares of Martin Marietta Materials to a “strong-buy” rating in a research report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $626.50.

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.