Procyon Advisors LLC Increases Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Procyon Advisors LLC lifted its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 8.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,381 shares of the construction company’s stock after acquiring an additional 182 shares during the quarter. Procyon Advisors LLC’s holdings in Martin Marietta Materials were worth $1,188,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of MLM. WINTON GROUP Ltd purchased a new position in Martin Marietta Materials in the second quarter valued at $428,000. Amalgamated Bank lifted its position in Martin Marietta Materials by 2.5% in the third quarter. Amalgamated Bank now owns 16,460 shares of the construction company’s stock valued at $6,757,000 after purchasing an additional 397 shares during the period. Waratah Capital Advisors Ltd. lifted its position in shares of Martin Marietta Materials by 121.9% during the 2nd quarter. Waratah Capital Advisors Ltd. now owns 58,015 shares of the construction company’s stock valued at $26,785,000 after acquiring an additional 31,867 shares during the period. Hudson Bay Capital Management LP acquired a new stake in shares of Martin Marietta Materials during the 3rd quarter valued at approximately $3,284,000. Finally, O Shaughnessy Asset Management LLC lifted its position in shares of Martin Marietta Materials by 54.9% during the 2nd quarter. O Shaughnessy Asset Management LLC now owns 1,219 shares of the construction company’s stock valued at $563,000 after acquiring an additional 432 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Down 0.1 %

MLM stock traded down $0.46 during trading on Thursday, reaching $611.40. The stock had a trading volume of 30,817 shares, compared to its average volume of 399,992. Martin Marietta Materials, Inc. has a 1-year low of $332.13 and a 1-year high of $617.08. The company has a current ratio of 3.35, a quick ratio of 2.50 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $37.80 billion, a P/E ratio of 32.49, a PEG ratio of 2.96 and a beta of 0.95. The firm has a fifty day moving average price of $555.91 and a 200 day moving average price of $488.66.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results 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. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.62 billion. Martin Marietta Materials had a net margin of 17.25% and a return on equity of 15.77%. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.04 EPS. On average, equities analysts anticipate that Martin Marietta Materials, Inc. will post 21.25 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Monday, March 4th will be paid a $0.74 dividend. The ex-dividend date of this dividend is Friday, March 1st. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.48%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 15.72%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on MLM shares. Stifel Nicolaus lifted their price objective 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. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $600.00 target price (up from $530.00) on shares of Martin Marietta Materials in a research note on Friday, March 22nd. Raymond James lifted their target price on shares of Martin Marietta Materials from $505.00 to $555.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Citigroup lifted their target price on shares of Martin Marietta Materials from $573.00 to $635.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Finally, HSBC raised shares of Martin Marietta Materials from a “reduce” rating to a “hold” rating and lifted their target price for the stock from $376.00 to $543.00 in a research note on Thursday, February 22nd. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $564.85.

Insider Activity at Martin Marietta Materials

In related news, Director Sue W. Cole sold 1,724 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $543.48, for a total transaction of $936,959.52. Following the completion of the sale, the director now owns 19,793 shares of the company’s stock, valued at approximately $10,757,099.64. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Martin Marietta Materials news, CEO C Howard Nye sold 15,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $604.26, for a total value of $9,063,900.00. Following the completion of the transaction, the chief executive officer now owns 134,640 shares in the company, valued at approximately $81,357,566.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Sue W. Cole sold 1,724 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $543.48, for a total transaction of $936,959.52. Following the completion of the transaction, the director now owns 19,793 shares of the company’s stock, valued at approximately $10,757,099.64. The disclosure for this sale can be found here. Insiders sold a total of 26,724 shares of company stock valued at $16,033,760 in the last quarter. Insiders own 0.61% of the company’s stock.

About Martin Marietta Materials

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.