Mackenzie Financial Corp Raises Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Mackenzie Financial Corp boosted its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 13.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,150 shares of the construction company's stock after acquiring an additional 942 shares during the quarter. Mackenzie Financial Corp's holdings in Martin Marietta Materials were worth $4,209,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Waverly Advisors LLC boosted its holdings in shares of Martin Marietta Materials by 78.9% during the fourth quarter. Waverly Advisors LLC now owns 1,041 shares of the construction company's stock worth $538,000 after purchasing an additional 459 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in Martin Marietta Materials by 64.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,028 shares of the construction company's stock worth $1,047,000 after buying an additional 796 shares during the period. Union Bancaire Privee UBP SA bought a new position in shares of Martin Marietta Materials during the fourth quarter valued at approximately $547,000. Captrust Financial Advisors increased its stake in shares of Martin Marietta Materials by 4.4% during the fourth quarter. Captrust Financial Advisors now owns 31,092 shares of the construction company's stock valued at $16,059,000 after purchasing an additional 1,315 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Martin Marietta Materials by 23.3% during the third quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company's stock valued at $1,441,663,000 after purchasing an additional 506,705 shares in the last quarter. Institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Stock Performance

Shares of MLM stock traded down $0.76 during mid-day trading on Friday, reaching $547.72. 653,644 shares of the company's stock traded hands, compared to its average volume of 490,746. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $633.23. The firm has a 50 day moving average price of $514.08 and a two-hundred day moving average price of $526.22. 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 firm has a market capitalization of $33.02 billion, a PE ratio of 16.94, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings data 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 net margin of 30.54% and a return on equity of 12.11%. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the previous year, the firm posted $1.93 EPS. The company's revenue for the quarter was up 8.2% compared to the same quarter last year. On average, research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 0.58%. The ex-dividend date is Monday, June 2nd. Martin Marietta Materials's dividend payout ratio is currently 18.20%.

Insider Buying and Selling at Martin Marietta Materials

In other Martin Marietta Materials news, SVP Michael J. Petro bought 550 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the transaction, the senior vice president now owns 8,985 shares of the company's stock, valued at $4,082,514.45. This represents a 6.52% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Donald A. Mccunniff sold 1,332 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total transaction of $632,700.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.69% of the company's stock.

Analyst Ratings Changes

MLM has been the subject of a number of recent analyst reports. Truist Financial decreased their price objective on shares of Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Barclays decreased their price objective on shares of Martin Marietta Materials from $645.00 to $600.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. Wall Street Zen upgraded shares of Martin Marietta Materials from a "sell" rating to a "hold" rating in a report on Tuesday, May 6th. Stifel Nicolaus boosted their price objective on shares of Martin Marietta Materials from $559.00 to $609.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, Seaport Res Ptn upgraded shares of Martin Marietta Materials to a "strong-buy" rating in a report on Friday, March 21st. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $610.69.

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.