National Bank of Canada FI Has $9.29 Million Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

National Bank of Canada FI reduced its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 35.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,913 shares of the construction company’s stock after selling 10,404 shares during the period. National Bank of Canada FI’s holdings in Martin Marietta Materials were worth $9,287,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Sapient Capital LLC bought a new position in shares of Martin Marietta Materials in the fourth quarter worth about $15,099,000. Axxcess Wealth Management LLC acquired a new position in shares of Martin Marietta Materials during the fourth quarter worth approximately $581,000. U.S. Capital Wealth Advisors LLC bought a new stake in shares of Martin Marietta Materials in the fourth quarter valued at approximately $218,000. 9258 Wealth Management LLC acquired a new position in Martin Marietta Materials during the 4th quarter valued at $203,000. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in Martin Marietta Materials by 3,228.6% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 932 shares of the construction company’s stock valued at $465,000 after purchasing an additional 904 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Price Performance

MLM opened at $603.20 on Friday. The company has a fifty day moving average price of $601.31 and a two-hundred day moving average price of $526.64. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.41 and a current ratio of 3.16. The firm has a market capitalization of $37.18 billion, a PE ratio of 17.87, a P/E/G ratio of 2.80 and a beta of 0.95. Martin Marietta Materials, Inc. has a 52 week low of $389.90 and a 52 week high of $626.67.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.05. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the firm earned $2.16 earnings per share. The firm’s quarterly revenue was down 7.6% compared to the same quarter last year. As a group, analysts anticipate that Martin Marietta Materials, Inc. will post 21.7 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors 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 0.49%. The ex-dividend date was Friday, March 1st. Martin Marietta Materials’s payout ratio is 8.77%.

Analyst Ratings Changes

MLM has been the subject of a number of research analyst reports. HSBC raised shares of Martin Marietta Materials from a “reduce” rating to a “hold” rating and upped their price objective for the company from $376.00 to $543.00 in a research report on Thursday, February 22nd. The Goldman Sachs Group upped their target price on Martin Marietta Materials from $642.00 to $737.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Wolfe Research lowered shares of Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research report on Friday, March 8th. Raymond James lifted their price objective on Martin Marietta Materials from $505.00 to $555.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, Truist Financial increased their target price on Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $598.17.

Insider Activity at Martin Marietta Materials

In other Martin Marietta Materials news, CEO C Howard Nye sold 15,000 shares of the stock in a transaction 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 directly owns 134,640 shares in the company, valued at $81,357,566.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO C Howard Nye sold 15,000 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 134,640 shares of the company’s stock, valued at approximately $81,357,566.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Roselyn R. Bar sold 10,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $603.29, for a total value of $6,032,900.00. Following the sale, the executive vice president now directly owns 59,970 shares in the company, valued at approximately $36,179,301.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,724 shares of company stock worth $16,033,760. 0.68% of the stock is currently owned by company insiders.

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.