Waverly Advisors LLC Acquires 459 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Waverly Advisors LLC lifted its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 78.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,041 shares of the construction company's stock after acquiring an additional 459 shares during the quarter. Waverly Advisors LLC's holdings in Martin Marietta Materials were worth $538,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Lee Danner & Bass Inc. acquired a new position in shares of Martin Marietta Materials in the fourth quarter worth $28,000. Whipplewood Advisors LLC acquired a new position in Martin Marietta Materials in the 4th quarter worth about $32,000. Kestra Investment Management LLC purchased a new stake in shares of Martin Marietta Materials during the 4th quarter worth about $35,000. Hopwood Financial Services Inc. acquired a new stake in shares of Martin Marietta Materials during the 4th quarter valued at about $36,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Martin Marietta Materials by 91.9% during 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 last quarter. 95.04% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MLM. UBS Group upgraded Martin Marietta Materials from a "neutral" rating to a "buy" rating and lifted their price target for the company from $548.00 to $634.00 in a report on Friday, May 16th. Seaport Res Ptn upgraded Martin Marietta Materials to a "strong-buy" rating in a report on Friday, March 21st. JPMorgan Chase & Co. lowered Martin Marietta Materials from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $640.00 to $560.00 in a report on Wednesday, March 19th. Morgan Stanley raised their price objective on Martin Marietta Materials from $561.00 to $576.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Finally, Stephens dropped their price target on Martin Marietta Materials from $675.00 to $650.00 and set an "overweight" rating on the stock in a research report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $610.69.

Martin Marietta Materials Stock Down 1.2%

MLM stock traded down $6.48 during trading hours on Friday, reaching $542.01. 106,593 shares of the stock were exchanged, compared to its average volume of 487,788. The firm's 50-day moving average is $512.93 and its 200-day moving average is $526.69. The company has a market cap of $32.67 billion, a price-to-earnings ratio of 16.78, a PEG 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 12 month low of $441.95 and a 12 month high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The construction company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.02. The company had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.36 billion. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. Martin Marietta Materials's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.93 EPS. On average, 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 declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Monday, June 2nd. Martin Marietta Materials's payout ratio is currently 18.20%.

Insider Buying and Selling

In other Martin Marietta Materials news, SVP Michael J. Petro acquired 550 shares of Martin Marietta Materials stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $454.37 per share, with a total value of $249,903.50. Following the completion of the purchase, the senior vice president now directly owns 8,985 shares of the company's stock, valued at $4,082,514.45. This represents a 6.52% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Donald A. Mccunniff sold 1,332 shares of the business'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 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 position. The disclosure for this sale can be found here. 0.69% of the stock is currently owned by corporate insiders.

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.