Martin Marietta Materials, Inc. (NYSE:MLM) Position Boosted by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale grew its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 10.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 193,818 shares of the construction company's stock after buying an additional 18,625 shares during the period. DekaBank Deutsche Girozentrale owned 0.31% of Martin Marietta Materials worth $96,115,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. FMR LLC raised its position in shares of Martin Marietta Materials by 225.3% in the 3rd quarter. FMR LLC now owns 1,833,959 shares of the construction company's stock worth $752,803,000 after purchasing an additional 1,270,116 shares during the last quarter. Norges Bank purchased a new position in shares of Martin Marietta Materials in the 4th quarter worth about $197,591,000. Morgan Stanley raised its position in shares of Martin Marietta Materials by 51.6% in the 4th quarter. Morgan Stanley now owns 737,821 shares of the construction company's stock worth $249,362,000 after purchasing an additional 251,047 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Martin Marietta Materials by 9.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,042,537 shares of the construction company's stock worth $838,421,000 after purchasing an additional 181,136 shares during the last quarter. Finally, Comerica Bank purchased a new position in shares of Martin Marietta Materials in the 2nd quarter worth about $792,790,000. Institutional investors own 95.04% of the company's stock.

Insiders Place Their Bets

In other Martin Marietta Materials news, EVP Roselyn R. Bar sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $603.29, for a total value of $6,032,900.00. Following the completion of the transaction, the executive vice president now directly owns 59,970 shares in the company, valued at approximately $36,179,301.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO C Howard Nye sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $604.26, for a total transaction of $9,063,900.00. Following the sale, the chief executive officer now directly owns 134,640 shares of the company's stock, valued at approximately $81,357,566.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Roselyn R. Bar sold 10,000 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $603.29, for a total value of $6,032,900.00. Following the sale, the executive vice president now owns 59,970 shares in the company, valued at approximately $36,179,301.30. The disclosure for this sale can be found here. Insiders sold 26,724 shares of company stock worth $16,033,760 in the last three months. 0.61% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

MLM has been the subject of several recent analyst reports. Stifel Nicolaus lifted their price target on Martin Marietta Materials from $510.00 to $598.00 and gave the stock a "buy" rating in a research report on Tuesday, December 19th. Citigroup boosted their target price on Martin Marietta Materials from $635.00 to $708.00 and gave the stock a "buy" rating in a research report on Friday. Truist Financial boosted their target price on Martin Marietta Materials from $610.00 to $700.00 and gave the stock a "buy" rating in a research report on Tuesday. The Goldman Sachs Group boosted their target price on Martin Marietta Materials from $560.00 to $642.00 and gave the stock a "buy" rating in a research report on Friday, February 16th. Finally, Stephens boosted their target price on Martin Marietta Materials from $575.00 to $605.00 and gave the stock an "overweight" rating in a research report on Friday, February 16th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $577.38.

Martin Marietta Materials Stock Performance

Shares of NYSE:MLM traded up $15.32 during mid-day trading on Friday, reaching $619.41. 392,431 shares of the company traded hands, compared to its average volume of 387,137. The company's 50 day moving average price is $570.92 and its 200-day moving average price is $497.38. The firm has a market cap of $38.29 billion, a PE ratio of 32.89, a PEG ratio of 2.95 and a beta of 0.96. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.35 and a quick ratio of 2.50. Martin Marietta Materials, Inc. has a 52 week low of $332.13 and a 52 week high of $622.28.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings data on Wednesday, February 14th. The construction company reported $4.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.96 by $0.67. Martin Marietta Materials had a return on equity of 15.77% and a net margin of 17.25%. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same period in the previous year, the company posted $3.04 EPS. The firm's revenue was up 8.9% on a year-over-year basis. On average, equities analysts expect that Martin Marietta Materials, Inc. will post 21.09 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 4th were paid a $0.74 dividend. The ex-dividend date was Friday, March 1st. This represents a $2.96 annualized dividend and a yield of 0.48%. Martin Marietta Materials's payout ratio is 15.72%.

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.