Allianz SE Purchases Shares of 460 Martin Marietta Materials, Inc. (NYSE:MLM)

Allianz SE purchased a new position in Martin Marietta Materials, Inc. (NYSE:MLM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 460 shares of the construction company’s stock, valued at approximately $239,000.

Several other institutional investors and hedge funds have also recently modified their holdings of MLM. Proficio Capital Partners LLC grew its holdings in Martin Marietta Materials by 54,277.3% during the 4th quarter. Proficio Capital Partners LLC now owns 918,432 shares of the construction company’s stock valued at $474,370,000 after buying an additional 916,743 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Martin Marietta Materials by 76.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock worth $876,648,000 after buying an additional 704,460 shares during the last quarter. Norges Bank bought a new stake in Martin Marietta Materials during the fourth quarter worth approximately $306,863,000. JPMorgan Chase & Co. lifted its stake in shares of Martin Marietta Materials by 23.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock valued at $1,441,663,000 after purchasing an additional 506,705 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Martin Marietta Materials during the 4th quarter worth about $196,374,000. 95.04% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Martin Marietta Materials

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MLM. Seaport Res Ptn upgraded shares of Martin Marietta Materials to a “strong-buy” rating in a report on Friday, March 21st. HSBC upgraded shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 target price on the stock in a report on Wednesday, December 11th. Barclays cut their price target on Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Stifel Nicolaus began coverage on Martin Marietta Materials in a research note on Tuesday, March 4th. They set a “buy” rating and a $559.00 price objective for the company. Finally, Truist Financial decreased their price target on shares of Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Martin Marietta Materials has a consensus rating of “Moderate Buy” and a consensus price target of $628.64.

Martin Marietta Materials Stock Performance

MLM opened at $478.39 on Tuesday. The firm has a fifty day moving average price of $505.73 and a 200 day moving average price of $538.52. Martin Marietta Materials, Inc. has a 1 year low of $448.50 and a 1 year high of $633.23. The stock has a market cap of $29.17 billion, a P/E ratio of 14.80, a P/E/G 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.

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

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were given a dividend of $0.79 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a yield of 0.66%. 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.