Pacer Advisors Inc. Purchases 1,657 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Pacer Advisors Inc. lifted its position in Martin Marietta Materials, Inc. (NYSE:MLMFree Report) by 41.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,621 shares of the construction company’s stock after buying an additional 1,657 shares during the period. Pacer Advisors Inc.’s holdings in Martin Marietta Materials were worth $2,804,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Spreng Capital Management Inc. increased its position in shares of Martin Marietta Materials by 3.4% in the 3rd quarter. Spreng Capital Management Inc. now owns 752 shares of the construction company’s stock valued at $309,000 after buying an additional 25 shares in the last quarter. Centaurus Financial Inc. increased its position in shares of Martin Marietta Materials by 9.4% in the 1st quarter. Centaurus Financial Inc. now owns 336 shares of the construction company’s stock valued at $119,000 after buying an additional 29 shares in the last quarter. Gilbert & Cook Inc. increased its position in shares of Martin Marietta Materials by 2.6% in the 2nd quarter. Gilbert & Cook Inc. now owns 1,171 shares of the construction company’s stock valued at $541,000 after buying an additional 30 shares in the last quarter. Mitchell Capital Management Co. increased its position in shares of Martin Marietta Materials by 0.5% in the 3rd quarter. Mitchell Capital Management Co. now owns 5,763 shares of the construction company’s stock valued at $2,366,000 after buying an additional 30 shares in the last quarter. Finally, CWM LLC boosted its stake in Martin Marietta Materials by 2.1% in the 3rd quarter. CWM LLC now owns 1,478 shares of the construction company’s stock worth $607,000 after purchasing an additional 31 shares during the period. Institutional investors own 95.04% of the company’s stock.

Insider Activity at Martin Marietta Materials

In related news, Director Sue W. Cole sold 1,724 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $543.48, for a total value of $936,959.52. Following the completion of the sale, the director now directly owns 19,793 shares in the company, valued at approximately $10,757,099.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Martin Marietta Materials news, CEO C Howard Nye sold 15,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 134,640 shares of the company’s stock, valued at approximately $81,357,566.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Sue W. Cole sold 1,724 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $543.48, for a total transaction of $936,959.52. Following the completion of the transaction, the director now directly owns 19,793 shares in the company, valued at $10,757,099.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,724 shares of company stock worth $16,033,760. Insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on MLM shares. StockNews.com lowered shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. The Goldman Sachs Group upped their target price on shares of Martin Marietta Materials from $560.00 to $642.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Morgan Stanley started coverage on shares of Martin Marietta Materials in a research note on Monday, January 8th. They issued an “overweight” rating and a $595.00 target price for the company. HSBC raised shares of Martin Marietta Materials from a “reduce” rating to a “hold” rating and upped their target price for the stock from $376.00 to $543.00 in a research note on Thursday, February 22nd. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $600.00 target price (up from $530.00) on shares of Martin Marietta Materials in a research note on Friday, March 22nd. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $564.85.

View Our Latest Stock Analysis on Martin Marietta Materials

Martin Marietta Materials Trading Up 0.3 %

Shares of NYSE:MLM opened at $613.94 on Friday. Martin Marietta Materials, Inc. has a 52-week low of $332.13 and a 52-week high of $617.08. The company has a market capitalization of $37.95 billion, a P/E ratio of 32.60, a price-to-earnings-growth ratio of 2.99 and a beta of 0.95. The company has a 50-day simple moving average of $560.30 and a 200 day simple moving average of $490.75. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.50 and a current ratio of 3.35.

Martin Marietta Materials (NYSE:MLMGet Free Report) last issued its earnings results on Wednesday, February 14th. The construction company reported $4.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.67. Martin Marietta Materials had a net margin of 17.25% and a return on equity of 15.77%. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same period last year, the business posted $3.04 EPS. Martin Marietta Materials’s revenue was up 8.9% on a year-over-year basis. Sell-side analysts forecast that Martin Marietta Materials, Inc. will post 21.09 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 4th were paid a $0.74 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $2.96 annualized dividend and a yield of 0.48%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 15.72%.

About Martin Marietta Materials

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

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