55 Shares in Martin Marietta Materials, Inc. (NYSE:MLM) Purchased by Lee Danner & Bass Inc.

Lee Danner & Bass Inc. purchased a new position in Martin Marietta Materials, Inc. (NYSE:MLM) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 55 shares of the construction company’s stock, valued at approximately $28,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Integrated Wealth Concepts LLC raised its position in Martin Marietta Materials by 2.5% in the third quarter. Integrated Wealth Concepts LLC now owns 782 shares of the construction company’s stock worth $421,000 after acquiring an additional 19 shares in the last quarter. Checchi Capital Advisers LLC grew 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 valued at $690,000 after buying an additional 19 shares in the last quarter. iA Global Asset Management Inc. grew its stake in shares of Martin Marietta Materials by 3.6% in the 3rd quarter. iA Global Asset Management Inc. now owns 570 shares of the construction company’s stock valued at $307,000 after buying an additional 20 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 valued at $231,000 after buying an additional 20 shares in the last quarter. Finally, Financial Counselors Inc. boosted its position in Martin Marietta Materials by 1.9% during the third quarter. Financial Counselors Inc. now owns 1,123 shares of the construction company’s stock worth $604,000 after purchasing an additional 21 shares during the period. 95.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Citigroup decreased their target price on Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Loop Capital cut their target price on Martin Marietta Materials from $680.00 to $645.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Hsbc Global Res upgraded Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Raymond James dropped their price objective on 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, JPMorgan Chase & Co. lowered Martin Marietta Materials from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $640.00 to $560.00 in a research note on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Martin Marietta Materials has an average rating of “Moderate Buy” and an average price target of $628.64.

Martin Marietta Materials Price Performance

Martin Marietta Materials stock opened at $477.49 on Monday. The firm has a market capitalization of $29.11 billion, a P/E ratio of 14.77, a PEG ratio of 4.45 and a beta of 0.89. Martin Marietta Materials, Inc. has a 1 year low of $448.50 and a 1 year high of $633.23. The business has a 50-day moving average of $511.26 and a 200-day moving average of $539.52. 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 (NYSE:MLM) last posted its earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. On average, equities analysts anticipate 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 will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.77%.

Insider Activity

In other Martin Marietta Materials news, SVP Michael J. Petro acquired 550 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average price of $454.37 per share, for a total transaction of $249,903.50. Following the acquisition, the senior vice president now directly owns 8,985 shares of the company’s stock, valued at approximately $4,082,514.45. This trade represents a 6.52 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Donald A. Mccunniff sold 1,332 shares of the business’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 sale, the executive vice president now owns 3,523 shares in the company, valued at $1,673,425. The trade was a 27.44 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by company insiders.

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.