Turtle Creek Wealth Advisors LLC Invests $34,000 in Martin Marietta Materials, Inc. (NYSE:MLM)

Turtle Creek Wealth Advisors LLC bought a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 68 shares of the construction company’s stock, valued at approximately $34,000.

A number of other large investors have also modified their holdings of MLM. Pinnacle Bancorp Inc. purchased a new position in Martin Marietta Materials in the 4th quarter valued at approximately $26,000. MV Capital Management Inc. increased its stake in Martin Marietta Materials by 144.4% in the 3rd quarter. MV Capital Management Inc. now owns 66 shares of the construction company’s stock valued at $27,000 after purchasing an additional 39 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in Martin Marietta Materials in the 4th quarter valued at approximately $27,000. Householder Group Estate & Retirement Specialist LLC purchased a new position in Martin Marietta Materials in the 3rd quarter valued at approximately $30,000. Finally, Covestor Ltd increased its stake in Martin Marietta Materials by 84.6% in 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 in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on MLM shares. The Goldman Sachs Group increased their target price on Martin Marietta Materials from $560.00 to $642.00 and gave the company a “buy” rating in a report on Friday, February 16th. Raymond James increased their target price on Martin Marietta Materials from $505.00 to $555.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. StockNews.com cut Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Friday, February 9th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $600.00 target price (up previously from $530.00) on shares of Martin Marietta Materials in a report on Friday, March 22nd. Finally, Truist Financial increased their target price on Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $577.38.

Insider Activity at Martin Marietta Materials

In related news, Director Sue W. Cole sold 1,724 shares of Martin Marietta Materials stock in a transaction on Friday, February 16th. The stock was sold at an average price of $543.48, for a total value of $936,959.52. Following the transaction, the director now owns 19,793 shares in the company, valued at $10,757,099.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Martin Marietta Materials news, EVP Roselyn R. Bar sold 10,000 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now owns 59,970 shares in the company, valued at $36,179,301.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Sue W. Cole sold 1,724 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $543.48, for a total value of $936,959.52. Following the transaction, the director now owns 19,793 shares in the company, valued at approximately $10,757,099.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,724 shares of company stock worth $16,033,760. 0.61% of the stock is owned by insiders.

Martin Marietta Materials Price Performance

MLM stock opened at $602.10 on Friday. Martin Marietta Materials, Inc. has a 52-week low of $343.71 and a 52-week high of $626.67. The stock’s fifty day simple moving average is $578.75 and its 200-day simple moving average is $502.34. The company has a quick ratio of 2.50, a current ratio of 3.35 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $37.22 billion, a price-to-earnings ratio of 31.98, a price-to-earnings-growth ratio of 2.96 and a beta of 0.96.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Wednesday, February 14th. The construction company reported $4.63 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter last year, the firm earned $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 21.09 EPS 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 issued a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Friday, March 1st. Martin Marietta Materials’s payout ratio is currently 15.72%.

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.