Toronto Dominion Bank Boosts Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Toronto Dominion Bank lifted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 53.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 about 0.06% of Martin Marietta Materials worth $17,926,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in MLM. GTS Securities LLC increased its stake in Martin Marietta Materials by 129.4% during the fourth quarter. GTS Securities LLC now owns 560 shares of the construction company's stock worth $289,000 after acquiring an additional 2,466 shares during the last quarter. Vise Technologies Inc. purchased a new position in shares of Martin Marietta Materials in the 4th quarter worth approximately $235,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Martin Marietta Materials by 12.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 315,901 shares of the construction company's stock valued at $163,163,000 after purchasing an additional 36,040 shares during the last quarter. Waverly Advisors LLC raised its holdings in Martin Marietta Materials by 78.9% during the 4th quarter. Waverly Advisors LLC now owns 1,041 shares of the construction company's stock valued at $538,000 after buying an additional 459 shares during the period. Finally, Woodline Partners LP bought a new stake in Martin Marietta Materials in the fourth quarter worth $17,994,000. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Down 0.5%

Shares of NYSE MLM traded down $2.85 during midday trading on Thursday, reaching $547.68. 689,287 shares of the company's stock traded hands, compared to its average volume of 489,271. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56. The company has a market cap of $33.02 billion, a price-to-earnings ratio of 16.94, a P/E/G ratio of 4.45 and a beta of 0.89. Martin Marietta Materials, Inc. has a one year low of $441.95 and a one year high of $633.23. The stock's 50 day simple moving average is $512.93 and its 200-day simple moving average is $526.69.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its earnings results on Wednesday, April 30th. The construction company reported $1.90 EPS for the quarter, topping analysts' consensus estimates of $1.88 by $0.02. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.36 billion. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. The firm's revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.93 earnings per share. On average, analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal 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 given a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $3.16 dividend on an annualized basis and a yield of 0.58%. Martin Marietta Materials's payout ratio is 18.20%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MLM shares. Stifel Nicolaus boosted their price objective on shares of Martin Marietta Materials from $559.00 to $609.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Barclays dropped their price target on shares of Martin Marietta Materials from $645.00 to $600.00 and set an "overweight" rating for the company in a research note on Thursday, February 13th. Truist Financial reduced their price objective 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. Wall Street Zen raised Martin Marietta Materials from a "sell" rating to a "hold" rating in a research note on Tuesday, May 6th. Finally, Loop Capital cut their price objective on Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $610.69.

Insider Activity 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 on Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total value of $632,700.00. Following the completion of the transaction, the executive vice president now owns 3,523 shares of the company's stock, valued at approximately $1,673,425. This trade represents a 27.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Michael J. Petro acquired 550 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were bought at an average cost of $454.37 per share, for a total transaction 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 ownership of the stock. The disclosure for this purchase can be found here. 0.69% of the stock is currently owned by corporate 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.