GAMMA Investing LLC Invests $340,000 in Martin Marietta Materials, Inc. (NYSE:MLM)

GAMMA Investing LLC acquired a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 669 shares of the construction company’s stock, valued at approximately $340,000.

Several other institutional investors and hedge funds also recently made changes to their positions in MLM. Pinnacle Bancorp Inc. bought a new position in shares of Martin Marietta Materials during the 4th quarter worth about $26,000. MV Capital Management Inc. increased its holdings in shares of Martin Marietta Materials by 144.4% during the 3rd quarter. MV Capital Management Inc. now owns 66 shares of the construction company’s stock worth $27,000 after purchasing an additional 39 shares during the period. Exchange Traded Concepts LLC bought a new position in shares of Martin Marietta Materials during the 4th quarter worth about $27,000. Covestor Ltd increased its holdings in shares of Martin Marietta Materials by 84.6% during the 3rd quarter. Covestor Ltd now owns 72 shares of the construction company’s stock worth $30,000 after purchasing an additional 33 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group increased its holdings in shares of Martin Marietta Materials by 74.3% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 61 shares of the construction company’s stock worth $30,000 after purchasing an additional 26 shares during the period. Institutional investors own 95.04% of the company’s stock.

Insider Activity at Martin Marietta Materials

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

Martin Marietta Materials Price Performance

Shares of MLM stock opened at $591.82 on Thursday. Martin Marietta Materials, Inc. has a 1 year low of $343.79 and a 1 year high of $626.67. The firm’s 50 day moving average is $590.82 and its 200-day moving average is $514.16. The firm has a market capitalization of $36.53 billion, a price-to-earnings ratio of 31.43, a PEG ratio of 2.88 and a beta of 0.96. The company has a current ratio of 3.35, a quick ratio of 2.50 and a debt-to-equity ratio of 0.49.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Wednesday, February 14th. The construction company reported $4.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.96 by $0.67. Martin Marietta Materials had a net margin of 17.25% and a return on equity of 15.77%. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same period in the prior year, the business earned $3.04 earnings per share. Martin Marietta Materials’s quarterly revenue was up 8.9% on a year-over-year basis. Sell-side analysts forecast that Martin Marietta Materials, Inc. will post 21.24 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 4th were issued a $0.74 dividend. The ex-dividend date was Friday, March 1st. This represents a $2.96 annualized dividend and a yield of 0.50%. Martin Marietta Materials’s dividend payout ratio is currently 15.72%.

Analyst Ratings Changes

Several research analysts have recently issued reports on MLM shares. The Goldman Sachs Group boosted their price objective on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Truist Financial upped their target price on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Stephens upped their target price on shares of Martin Marietta Materials from $575.00 to $605.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Raymond James upped their target price on shares of Martin Marietta Materials from $505.00 to $555.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Finally, Citigroup upped their target price on shares of Martin Marietta Materials from $635.00 to $708.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $588.69.

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.