Hsbc Holdings PLC Acquires 26,055 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Hsbc Holdings PLC lifted its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 23.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 134,988 shares of the construction company's stock after acquiring an additional 26,055 shares during the quarter. Hsbc Holdings PLC owned about 0.22% of Martin Marietta Materials worth $69,778,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC raised its stake in shares of Martin Marietta Materials by 1.4% in the 4th quarter. Checchi Capital Advisers LLC now owns 1,336 shares of the construction company's stock worth $690,000 after buying an additional 19 shares in the last quarter. OneDigital Investment Advisors LLC boosted its position in shares of Martin Marietta Materials by 1.9% during the 4th 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 in the last quarter. Brooklyn Investment Group grew its stake in shares of Martin Marietta Materials by 4.7% in the 4th quarter. Brooklyn Investment Group now owns 447 shares of the construction company's stock worth $231,000 after purchasing an additional 20 shares during the last quarter. OLD National Bancorp IN lifted its stake in Martin Marietta Materials by 4.5% during 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 last quarter. Finally, Signaturefd LLC boosted its holdings in Martin Marietta Materials by 2.6% during the fourth quarter. Signaturefd LLC now owns 835 shares of the construction company's stock worth $431,000 after buying an additional 21 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Michael J. Petro purchased 550 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $454.37 per share, for a total transaction of $249,903.50. Following the purchase, the senior vice president now owns 8,985 shares in the company, valued at $4,082,514.45. The trade was a 6.52 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Donald A. Mccunniff sold 1,332 shares of the firm's stock in a transaction that occurred 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 directly owns 3,523 shares in the company, valued at $1,673,425. The trade was a 27.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by corporate insiders.

Martin Marietta Materials Stock Up 1.9 %

Shares of MLM traded up $9.36 during midday trading on Wednesday, reaching $514.22. 147,538 shares of the stock were exchanged, compared to its average volume of 485,216. The company has a market cap of $31.16 billion, a price-to-earnings ratio of 15.90, a P/E/G ratio of 4.45 and a beta of 0.81. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56. 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 simple moving average of $483.04 and a 200-day simple moving average of $531.06.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The construction company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.02. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.36 billion. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. The company's revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.93 earnings per share. Research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date was Monday, March 3rd. Martin Marietta Materials's dividend payout ratio is presently 9.77%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on MLM shares. StockNews.com downgraded Martin Marietta Materials from a "hold" rating to a "sell" rating in a research report on Thursday, February 20th. 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 report on Tuesday, April 1st. Truist Financial decreased their target price 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. Wolfe Research upgraded shares of Martin Marietta Materials from a "peer perform" rating to an "outperform" rating and set a $563.00 price target on the stock in a report on Wednesday, January 8th. Finally, 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 research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Martin Marietta Materials presently has a consensus rating of "Moderate Buy" and an average target price of $599.38.

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.