AMG National Trust Bank Boosts Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

AMG National Trust Bank increased its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 5.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 462 shares of the construction company’s stock after buying an additional 24 shares during the period. AMG National Trust Bank’s holdings in Martin Marietta Materials were worth $238,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MLM. Farther Finance Advisors LLC increased its holdings in Martin Marietta Materials by 11.6% during the third quarter. Farther Finance Advisors LLC now owns 317 shares of the construction company’s stock worth $171,000 after buying an additional 33 shares during the last quarter. QRG Capital Management Inc. increased its stake in shares of Martin Marietta Materials by 8.2% in the third quarter. QRG Capital Management Inc. now owns 1,734 shares of the construction company’s stock worth $933,000 after purchasing an additional 132 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Martin Marietta Materials by 76.2% in the third quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock worth $876,648,000 after purchasing an additional 704,460 shares in the last quarter. Leavell Investment Management Inc. increased its stake in shares of Martin Marietta Materials by 1.7% in the third quarter. Leavell Investment Management Inc. now owns 4,048 shares of the construction company’s stock worth $2,179,000 after purchasing an additional 67 shares in the last quarter. Finally, CWA Asset Management Group LLC purchased a new position in shares of Martin Marietta Materials in the third quarter worth about $719,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MLM shares. StockNews.com downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th. Wolfe Research upgraded shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 target price for the company in a research note on Wednesday, January 8th. Stifel Nicolaus started coverage on shares of Martin Marietta Materials in a research note on Tuesday, March 4th. They issued a “buy” rating and a $559.00 target price for the company. Raymond James reduced their target price on shares of Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Finally, Truist Financial reduced 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 research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $634.36.

Insiders Place Their Bets

In other Martin Marietta Materials news, SVP Michael J. Petro purchased 550 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were purchased at an average cost of $454.37 per share, with a total value of $249,903.50. Following the completion of the purchase, 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Donald A. Mccunniff sold 1,332 shares of Martin Marietta Materials stock in a transaction that occurred on 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 directly owns 3,523 shares in the company, valued at $1,673,425. This trade represents a 27.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

Martin Marietta Materials Trading Down 3.1 %

Shares of Martin Marietta Materials stock opened at $461.02 on Friday. Martin Marietta Materials, Inc. has a 1 year low of $448.50 and a 1 year high of $633.23. The firm has a market cap of $28.11 billion, a PE ratio of 14.26, a PEG ratio of 4.45 and a beta of 0.89. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. The company has a 50 day simple moving average of $518.87 and a two-hundred day simple moving average of $543.22.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. Analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $3.16 annualized dividend and a yield of 0.69%. Martin Marietta Materials’s payout ratio is presently 9.77%.

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.