Beck Bode LLC Purchases 3,098 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Beck Bode LLC boosted its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 107.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,993 shares of the construction company’s stock after purchasing an additional 3,098 shares during the quarter. Beck Bode LLC’s holdings in Martin Marietta Materials were worth $2,990,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Pinnacle Bancorp Inc. purchased a new position in Martin Marietta Materials in the fourth quarter worth about $26,000. MV Capital Management Inc. raised its holdings in Martin Marietta Materials by 144.4% in the third quarter. MV Capital Management Inc. now owns 66 shares of the construction company’s stock worth $27,000 after purchasing an additional 39 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in Martin Marietta Materials during the fourth quarter valued at approximately $27,000. Covestor Ltd lifted its holdings in shares of Martin Marietta Materials by 84.6% during the 3rd quarter. Covestor Ltd now owns 72 shares of the construction company’s stock valued at $30,000 after purchasing an additional 33 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group raised its stake in Martin Marietta Materials by 74.3% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 61 shares of the construction company’s stock valued at $30,000 after buying an additional 26 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Insider Buying and Selling at Martin Marietta Materials

In related news, CEO C Howard Nye sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $604.26, for a total value of $9,063,900.00. Following the sale, the chief executive officer now owns 134,640 shares of the company’s stock, valued at $81,357,566.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Martin Marietta Materials news, CEO C Howard Nye sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $604.26, for a total value of $9,063,900.00. Following the completion of the sale, the chief executive officer now owns 134,640 shares in the company, valued at $81,357,566.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Roselyn R. Bar sold 10,000 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $603.29, for a total transaction of $6,032,900.00. Following the sale, the executive vice president now owns 59,970 shares of the company’s stock, valued at approximately $36,179,301.30. The disclosure for this sale can be found here. Insiders sold a total of 26,724 shares of company stock worth $16,033,760 over the last three months. Insiders own 0.59% of the company’s stock.

Martin Marietta Materials Trading Down 2.5 %

NYSE:MLM traded down $15.32 on Tuesday, hitting $587.32. The stock had a trading volume of 821,899 shares, compared to its average volume of 414,079. The company has a fifty day moving average price of $594.62 and a two-hundred day moving average price of $518.37. The stock has a market cap of $36.25 billion, a price-to-earnings ratio of 32.00, a PEG ratio of 2.93 and a beta of 0.96. The company has a quick ratio of 2.50, a current ratio of 3.35 and a debt-to-equity ratio of 0.49. Martin Marietta Materials, Inc. has a 1-year low of $361.23 and a 1-year high of $626.67.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Wednesday, February 14th. The construction company reported $4.63 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.67. Martin Marietta Materials had a return on equity of 15.77% and a net margin of 17.25%. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same period in the prior year, the business posted $3.04 earnings per share. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. Equities research analysts expect that Martin Marietta Materials, Inc. will post 21.3 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 4th were paid a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 0.50%. The ex-dividend date was Friday, March 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 15.72%.

Wall Street Analyst Weigh In

MLM has been the subject of several research reports. Citigroup lifted their price objective on shares of Martin Marietta Materials from $635.00 to $708.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Truist Financial lifted their price objective on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Stifel Nicolaus increased their target price on Martin Marietta Materials from $621.00 to $650.00 and gave the company a “buy” rating in a research report on Monday, April 15th. HSBC upgraded shares of Martin Marietta Materials from a “reduce” rating to a “hold” rating and upped their price objective for the stock from $376.00 to $543.00 in a research report on Thursday, February 22nd. Finally, StockNews.com cut shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $588.69.

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.