Martin Marietta Materials, Inc. (NYSE:MLM) Shares Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets lifted its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 87.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 133,966 shares of the construction company's stock after buying an additional 62,687 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.22% of Martin Marietta Materials worth $69,193,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC raised its position in Martin Marietta Materials by 1.4% in the fourth quarter. Checchi Capital Advisers LLC now owns 1,336 shares of the construction company's stock worth $690,000 after acquiring an additional 19 shares in the last quarter. OneDigital Investment Advisors LLC raised its position in Martin Marietta Materials by 1.9% in the fourth quarter. OneDigital Investment Advisors LLC now owns 1,020 shares of the construction company's stock worth $527,000 after acquiring an additional 19 shares in the last quarter. Brooklyn Investment Group raised its position in Martin Marietta Materials by 4.7% in the fourth quarter. Brooklyn Investment Group now owns 447 shares of the construction company's stock worth $231,000 after acquiring an additional 20 shares in the last quarter. OLD National Bancorp IN raised its position in Martin Marietta Materials by 4.5% in the fourth quarter. OLD National Bancorp IN now owns 483 shares of the construction company's stock worth $249,000 after acquiring an additional 21 shares in the last quarter. Finally, Signaturefd LLC increased its position in shares of Martin Marietta Materials by 2.6% in the fourth quarter. Signaturefd LLC now owns 835 shares of the construction company's stock valued at $431,000 after buying an additional 21 shares in the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Martin Marietta Materials

In related news, SVP Michael J. Petro acquired 550 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the purchase, the senior vice president now directly owns 8,985 shares in the company, valued at $4,082,514.45. This represents a 6.52% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible 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 stock was sold at an average price of $475.00, for a total value of $632,700.00. Following the transaction, the executive vice president now owns 3,523 shares of the company's stock, valued at approximately $1,673,425. The trade was a 27.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.69% of the company's stock.

Wall Street Analysts Forecast Growth

MLM has been the subject of a number of recent research reports. Raymond James dropped their price objective on Martin Marietta Materials from $600.00 to $597.00 and set an "outperform" rating for the company in a research report on Tuesday, April 29th. Stephens dropped their price objective on 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. Truist Financial dropped their price objective on 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. Loop Capital lowered their price target on 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, Morgan Stanley lifted their price target on Martin Marietta Materials from $561.00 to $576.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Martin Marietta Materials presently has a consensus rating of "Moderate Buy" and a consensus target price of $599.69.

Martin Marietta Materials Stock Up 1.5%

Martin Marietta Materials stock traded up $8.01 during midday trading on Monday, hitting $549.86. 69,556 shares of the company were exchanged, compared to its average volume of 484,697. The company's fifty day moving average price is $491.51 and its 200-day moving average price is $528.97. The company has a market cap of $33.15 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. 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 $441.95 and a fifty-two week high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its earnings results on Wednesday, April 30th. The construction company reported $1.90 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the prior year, the company posted $1.93 EPS. Martin Marietta Materials's quarterly revenue was up 8.2% on a year-over-year basis. On average, research analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Monday, March 3rd. Martin Marietta Materials's dividend payout ratio is currently 18.20%.

Martin Marietta Materials 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.