Texas Bank & Trust Co Buys New Shares in Martin Marietta Materials, Inc. (NYSE:MLM)

Texas Bank & Trust Co bought a new position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,100 shares of the construction company's stock, valued at approximately $568,000.

Other large investors have also recently modified their holdings of the company. Checchi Capital Advisers LLC increased its position in shares of Martin Marietta Materials by 1.4% during the fourth quarter. Checchi Capital Advisers LLC now owns 1,336 shares of the construction company's stock valued at $690,000 after buying an additional 19 shares during the period. OneDigital Investment Advisors LLC increased its stake in shares of Martin Marietta Materials by 1.9% during the fourth quarter. OneDigital Investment Advisors LLC now owns 1,020 shares of the construction company's stock valued at $527,000 after purchasing an additional 19 shares in the last quarter. Brooklyn Investment Group increased its stake in shares of Martin Marietta Materials by 4.7% during the fourth quarter. Brooklyn Investment Group now owns 447 shares of the construction company's stock valued at $231,000 after purchasing an additional 20 shares in the last quarter. OLD National Bancorp IN increased its stake in shares of Martin Marietta Materials by 4.5% during the fourth quarter. OLD National Bancorp IN now owns 483 shares of the construction company's stock valued at $249,000 after purchasing an additional 21 shares in the last quarter. Finally, Signaturefd LLC increased its stake in shares of Martin Marietta Materials by 2.6% during the fourth quarter. Signaturefd LLC now owns 835 shares of the construction company's stock valued at $431,000 after purchasing an additional 21 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Stock Performance

MLM stock traded down $3.31 on Wednesday, hitting $560.31. The company had a trading volume of 622,551 shares, compared to its average volume of 485,975. Martin Marietta Materials, Inc. has a 12-month low of $441.95 and a 12-month high of $633.23. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. The stock's 50-day simple moving average is $505.40 and its 200 day simple moving average is $528.16. The stock has a market cap of $33.78 billion, a price-to-earnings ratio of 17.33, a P/E/G ratio of 4.45 and a beta of 0.89.

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

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Monday, June 2nd. Martin Marietta Materials's dividend payout ratio is presently 18.20%.

Insider Transactions at Martin Marietta Materials

In other Martin Marietta Materials news, SVP Michael J. Petro purchased 550 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average price 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 of the company's stock, valued at $4,082,514.45. The trade was a 6.52% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Donald A. Mccunniff sold 1,332 shares of Martin Marietta Materials stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total transaction of $632,700.00. Following the transaction, the executive vice president now owns 3,523 shares in the company, valued at $1,673,425. This represents a 27.44% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.69% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on MLM shares. Stifel Nicolaus raised their target price on shares of Martin Marietta Materials from $559.00 to $609.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Loop Capital decreased their target price on shares of Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Seaport Res Ptn raised shares of Martin Marietta Materials to a "strong-buy" rating in a research note on Friday, March 21st. Truist Financial cut their price target 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. Finally, Morgan Stanley increased their price target on shares of Martin Marietta Materials from $561.00 to $576.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Martin Marietta Materials presently has an average rating of "Moderate Buy" and an average target price of $610.69.

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.