Alteri Wealth LLC Takes Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Alteri Wealth LLC purchased a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 544 shares of the construction company's stock, valued at approximately $281,000.

A number of other hedge funds have also bought and sold shares of the company. Lee Danner & Bass Inc. acquired a new position in shares of Martin Marietta Materials in the 4th quarter worth approximately $28,000. Whipplewood Advisors LLC bought a new stake in Martin Marietta Materials during the fourth quarter valued at $32,000. Kestra Investment Management LLC bought a new position in shares of Martin Marietta Materials in the 4th quarter worth about $35,000. Hopwood Financial Services Inc. bought a new position in shares of Martin Marietta Materials in the 4th quarter worth about $36,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Martin Marietta Materials by 91.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company's stock valued at $37,000 after buying an additional 34 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MLM has been the topic of a number of recent research reports. Truist Financial cut their target price on shares of Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. UBS Group lowered Martin Marietta Materials from a "buy" rating to a "neutral" rating and set a $491.00 price objective for the company. in a research report on Monday, April 7th. JPMorgan Chase & Co. lowered Martin Marietta Materials from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $640.00 to $560.00 in a research report on Wednesday, March 19th. Loop Capital reduced their price target on shares of Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. Finally, Raymond James dropped their price objective on shares of Martin Marietta Materials from $600.00 to $597.00 and set an "outperform" rating on the stock in a report on Tuesday, April 29th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $599.69.

Martin Marietta Materials Price Performance

Shares of MLM stock traded up $0.18 during mid-day trading on Wednesday, hitting $535.18. 363,892 shares of the stock traded hands, compared to its average volume of 485,220. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $633.23. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50. The company's 50-day simple moving average is $487.42 and its 200-day simple moving average is $529.84. The firm has a market cap of $32.26 billion, a price-to-earnings ratio of 16.55, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its earnings results on Wednesday, April 30th. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.88 by $0.02. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the company earned $1.93 earnings per share. Martin Marietta Materials's revenue was up 8.2% compared to the same quarter last year. As a group, equities research analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend was Monday, March 3rd. Martin Marietta Materials's payout ratio is 18.20%.

Insider Buying and Selling

In related news, SVP Michael J. Petro bought 550 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the acquisition, the senior vice president now directly owns 8,985 shares of the company's stock, valued at $4,082,514.45. The trade was a 6.52 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Donald A. Mccunniff sold 1,332 shares of the company's stock in a transaction 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 sale, the executive vice president now directly owns 3,523 shares of the company's stock, valued at approximately $1,673,425. This represents a 27.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by 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.