OFI Invest Asset Management Takes Position in Martin Marietta Materials, Inc. (NYSE:MLM)

OFI Invest Asset Management acquired a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 31,580 shares of the construction company’s stock, valued at approximately $15,752,000. OFI Invest Asset Management owned about 0.05% of Martin Marietta Materials as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Amundi lifted its position in Martin Marietta Materials by 10.5% during the fourth quarter. Amundi now owns 1,562,146 shares of the construction company’s stock worth $808,005,000 after acquiring an additional 148,065 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its position in Martin Marietta Materials by 14.5% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 20,797 shares of the construction company’s stock worth $10,909,000 after acquiring an additional 2,639 shares during the last quarter. AMG National Trust Bank lifted its position in Martin Marietta Materials by 5.5% during the fourth quarter. AMG National Trust Bank now owns 462 shares of the construction company’s stock worth $238,000 after acquiring an additional 24 shares during the last quarter. Mesirow Financial Investment Management Inc. raised its position in shares of Martin Marietta Materials by 55.9% in the fourth quarter. Mesirow Financial Investment Management Inc. now owns 959 shares of the construction company’s stock valued at $495,000 after buying an additional 344 shares in the last quarter. Finally, Callan Family Office LLC acquired a new stake in shares of Martin Marietta Materials in the fourth quarter valued at approximately $729,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Donald A. Mccunniff sold 1,332 shares of the firm’s stock in a transaction that occurred on 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. This trade represents a 27.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael J. Petro acquired 550 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average cost of $454.37 per share, with a total value of $249,903.50. Following the completion of the acquisition, the senior vice president now owns 8,985 shares in the company, valued at $4,082,514.45. This trade represents a 6.52 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.68% of the company’s stock.

Martin Marietta Materials Trading Down 3.1 %

MLM opened at $461.02 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. 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 $28.11 billion, a PE ratio of 14.26, a P/E/G ratio of 4.45 and a beta of 0.89. The company’s 50-day moving average is $518.87 and its 200 day moving average is $543.22.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. As a group, research analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio is currently 9.77%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Stephens dropped their price target on shares of Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. StockNews.com downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. Morgan Stanley dropped their price target on shares of Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Truist Financial dropped their price target 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. Finally, BNP Paribas cut shares of Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $634.36.

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.