Hopwood Financial Services Inc. Takes $36,000 Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Hopwood Financial Services Inc. acquired a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 70 shares of the construction company’s stock, valued at approximately $36,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Integrated Wealth Concepts LLC raised its stake in shares of Martin Marietta Materials by 2.5% during the third quarter. Integrated Wealth Concepts LLC now owns 782 shares of the construction company’s stock valued at $421,000 after acquiring an additional 19 shares during the last quarter. Checchi Capital Advisers LLC increased its position in shares of Martin Marietta Materials by 1.4% during the fourth 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 during the period. iA Global Asset Management Inc. increased its position in shares of Martin Marietta Materials by 3.6% during the third 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 during the period. Brooklyn Investment Group increased its position in shares of Martin Marietta Materials by 4.7% during the fourth quarter. Brooklyn Investment Group now owns 447 shares of the construction company’s stock valued at $231,000 after buying an additional 20 shares during the period. Finally, Financial Counselors Inc. increased its position in shares of Martin Marietta Materials by 1.9% during the third quarter. Financial Counselors Inc. now owns 1,123 shares of the construction company’s stock valued at $604,000 after buying an additional 21 shares during the period. 95.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MLM shares. Truist Financial reduced their price target on shares of Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. JPMorgan Chase & Co. upgraded shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $515.00 to $640.00 in a research report on Wednesday, November 27th. StockNews.com cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. Raymond James reduced their price target on shares of Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Finally, Hsbc Global Res upgraded shares of Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $634.36.

Insider Transactions at Martin Marietta Materials

In related news, SVP Michael J. Petro acquired 550 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average price of $454.37 per share, for a total transaction of $249,903.50. Following the completion of the transaction, the senior vice president now directly owns 8,985 shares in the company, valued at approximately $4,082,514.45. This trade represents a 6.52 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Donald A. Mccunniff sold 1,332 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total transaction of $632,700.00. Following the transaction, the executive vice president now owns 3,523 shares in the company, 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. Insiders own 0.68% of the company’s stock.

Martin Marietta Materials Trading Up 0.1 %

Shares of NYSE MLM opened at $464.70 on Thursday. The firm’s 50 day moving average price is $515.74 and its 200-day moving average price is $541.53. The company has a market cap of $28.33 billion, a PE ratio of 14.37, a P/E/G ratio of 4.45 and a beta of 0.89. Martin Marietta Materials, Inc. has a 52-week low of $448.50 and a 52-week high of $633.23. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50.

Martin Marietta Materials (NYSE:MLM) last issued 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 net margin of 30.54% and a return on equity of 12.11%. On average, equities research analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be paid a $0.79 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $3.16 annualized dividend and a dividend yield of 0.68%. Martin Marietta Materials’s dividend payout ratio is presently 9.77%.

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.