Martin Marietta Materials, Inc. (NYSE:MLM) Stock Holdings Boosted by ProShare Advisors LLC

ProShare Advisors LLC raised its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 8.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,395 shares of the construction company's stock after buying an additional 834 shares during the period. ProShare Advisors LLC's holdings in Martin Marietta Materials were worth $5,369,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its holdings in shares of Martin Marietta Materials by 23.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company's stock valued at $1,441,663,000 after acquiring an additional 506,705 shares in the last quarter. Ritholtz Wealth Management lifted its stake in shares of Martin Marietta Materials by 13.2% during the fourth quarter. Ritholtz Wealth Management now owns 866 shares of the construction company's stock worth $447,000 after purchasing an additional 101 shares in the last quarter. Merit Financial Group LLC lifted its stake in shares of Martin Marietta Materials by 10.8% during the fourth quarter. Merit Financial Group LLC now owns 808 shares of the construction company's stock worth $418,000 after purchasing an additional 79 shares in the last quarter. Brooklyn Investment Group boosted its position in shares of 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 buying an additional 20 shares during the period. Finally, HB Wealth Management LLC grew its stake in shares of Martin Marietta Materials by 2.0% in the fourth quarter. HB Wealth Management LLC now owns 7,531 shares of the construction company's stock valued at $3,890,000 after buying an additional 148 shares in the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on MLM shares. Truist Financial reduced their price target on Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. UBS Group raised shares of Martin Marietta Materials from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $548.00 to $634.00 in a research report on Friday, May 16th. Raymond James lowered their price target on shares of Martin Marietta Materials from $600.00 to $597.00 and set an "outperform" rating for the company in a report on Tuesday, April 29th. Stephens cut their price objective on shares of Martin Marietta Materials from $675.00 to $650.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. Finally, Loop Capital decreased their price objective on shares of Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $610.69.

Martin Marietta Materials Stock Up 0.7%

NYSE:MLM traded up $4.19 during mid-day trading on Thursday, reaching $564.23. The stock had a trading volume of 463,910 shares, compared to its average volume of 485,887. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. The company has a market capitalization of $34.01 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $633.23. The stock's 50 day simple moving average is $505.40 and its two-hundred day simple moving average is $528.16.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its earnings results on Wednesday, April 30th. The construction company reported $1.90 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the firm earned $1.93 EPS. The business's revenue was up 8.2% on a year-over-year basis. Equities analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

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

Insider Buying and Selling at Martin Marietta Materials

In other Martin Marietta Materials news, EVP Donald A. Mccunniff sold 1,332 shares of the firm's stock in a transaction dated Wednesday, March 5th. The shares were 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 $1,673,425. This trade represents a 27.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Michael J. Petro bought 550 shares of the stock in a transaction dated Tuesday, March 4th. The shares were bought at an average cost of $454.37 per share, with a total value of $249,903.50. Following the completion of the acquisition, the senior vice president now directly owns 8,985 shares of the company's stock, valued at approximately $4,082,514.45. The trade was a 6.52% increase in their position. The disclosure for this purchase can be found here. 0.69% of the stock is owned by insiders.

Martin Marietta Materials Company 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.