Ameriprise Financial Inc. Purchases 3,820 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Ameriprise Financial Inc. raised its holdings in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 125,554 shares of the construction company's stock after acquiring an additional 3,820 shares during the quarter. Ameriprise Financial Inc. owned 0.21% of Martin Marietta Materials worth $64,849,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Lee Danner & Bass Inc. purchased a new stake in Martin Marietta Materials during the 4th quarter worth about $28,000. Whipplewood Advisors LLC purchased a new stake in Martin Marietta Materials during the 4th quarter worth about $32,000. Kestra Investment Management LLC purchased a new stake in Martin Marietta Materials during the 4th quarter worth about $35,000. Hopwood Financial Services Inc. purchased a new stake in Martin Marietta Materials during the 4th quarter worth about $36,000. Finally, EverSource Wealth Advisors LLC increased its position in Martin Marietta Materials by 91.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company's stock worth $37,000 after purchasing an additional 34 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.

Martin Marietta Materials Stock Performance

MLM traded down $8.58 during midday trading on Tuesday, reaching $544.48. The company's stock had a trading volume of 369,730 shares, compared to its average volume of 486,203. The stock has a market cap of $32.82 billion, a P/E ratio of 16.84, a PEG ratio of 4.45 and a beta of 0.89. The company has a fifty day simple moving average of $493.01 and a 200 day simple moving average of $528.85. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its earnings results 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. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the firm posted $1.93 EPS. The company's revenue was up 8.2% on a year-over-year basis. Research analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were given a $0.79 dividend. The ex-dividend date was Monday, March 3rd. 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 currently 18.20%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Stifel Nicolaus lifted their price target on Martin Marietta Materials from $559.00 to $609.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Stephens lowered their price target on Martin Marietta Materials from $675.00 to $650.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. Seaport Res Ptn raised Martin Marietta Materials to a "strong-buy" rating in a research note on Friday, March 21st. JPMorgan Chase & Co. lowered Martin Marietta Materials from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $640.00 to $560.00 in a report on Wednesday, March 19th. Finally, UBS Group downgraded Martin Marietta Materials from a "buy" rating to a "neutral" rating and set a $491.00 target price for the company. in a report on Monday, April 7th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $599.69.

Insiders Place Their Bets

In other news, SVP Michael J. Petro acquired 550 shares of Martin Marietta Materials stock in a transaction on 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 transaction, the senior vice president now owns 8,985 shares of the company's stock, valued at $4,082,514.45. The trade was a 6.52% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible 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 stock was 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.69% of the company's stock.

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.