Toronto Dominion Bank Purchases 12,040 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Toronto Dominion Bank increased its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 53.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 34,708 shares of the construction company's stock after buying an additional 12,040 shares during the period. Toronto Dominion Bank owned 0.06% of Martin Marietta Materials worth $17,926,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC grew its holdings in 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 purchasing an additional 19 shares during the last quarter. OneDigital Investment Advisors LLC raised its position in shares of 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 valued at $527,000 after purchasing an additional 19 shares during the period. OLD National Bancorp IN raised its position in shares of Martin Marietta Materials by 4.5% in 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 during the period. Signaturefd LLC raised 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 purchasing an additional 21 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. raised its position in shares of Martin Marietta Materials by 1.2% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,873 shares of the construction company's stock valued at $967,000 after purchasing an additional 23 shares during the period. Institutional investors and hedge funds own 95.04% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Truist Financial dropped 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 research report on Thursday, February 13th. UBS Group raised shares of 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 research report on Friday, May 16th. Raymond James lowered their price objective on shares of Martin Marietta Materials from $600.00 to $597.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 29th. Stephens lowered 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 research note on Thursday, February 13th. Finally, Stifel Nicolaus raised their price objective on shares of Martin Marietta Materials from $559.00 to $609.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Martin Marietta Materials presently has an average rating of "Moderate Buy" and a consensus price target of $610.69.

Insider Buying and Selling

In related news, SVP Michael J. Petro purchased 550 shares of Martin Marietta Materials stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 8,985 shares in the company, valued at approximately $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 SEC, 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 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 approximately $1,673,425. This trade represents a 27.44% decrease in their position. The disclosure for this sale can be found here. 0.69% of the stock is owned by corporate insiders.

Martin Marietta Materials Price Performance

Shares of NYSE MLM traded down $0.76 during midday trading on Friday, reaching $547.72. 653,644 shares of the company traded hands, compared to its average volume of 489,419. The firm has a market cap of $33.02 billion, a PE ratio of 16.94, a PEG ratio of 4.45 and a beta of 0.89. The stock's 50-day simple moving average is $515.26 and its 200-day simple moving average is $524.82. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $633.23. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50.

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. 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%. The business's revenue was up 8.2% on a year-over-year basis. During the same period last year, the business earned $1.93 earnings per share. As a group, equities analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal 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 $0.79 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.58%. Martin Marietta Materials's dividend payout ratio is 18.20%.

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.