Sequoia Financial Advisors LLC Purchases 443 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Sequoia Financial Advisors LLC boosted its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 4.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,672 shares of the construction company’s stock after purchasing an additional 443 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Martin Marietta Materials were worth $5,512,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Whipplewood Advisors LLC acquired a new position in shares of Martin Marietta Materials during the 4th quarter worth $32,000. Kestra Investment Management LLC acquired a new stake in shares of Martin Marietta Materials in the fourth quarter valued at about $35,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Martin Marietta Materials in the fourth quarter valued at about $41,000. R Squared Ltd acquired a new stake in shares of Martin Marietta Materials in the fourth quarter valued at about $41,000. Finally, Midwest Capital Advisors LLC acquired a new stake in shares of Martin Marietta Materials in the fourth quarter valued at about $47,000. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Stock Up 0.1 %

Shares of NYSE:MLM opened at $465.23 on Friday. 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. The business’s 50 day simple moving average is $514.83 and its two-hundred day simple moving average is $541.00. The firm has a market cap of $28.37 billion, a P/E ratio of 14.39, a PEG ratio of 4.45 and a beta of 0.89.

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

Martin Marietta Materials Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on MLM shares. JPMorgan Chase & Co. raised Martin Marietta Materials from a “neutral” rating to an “overweight” rating and increased their price target for the company from $515.00 to $640.00 in a research note on Wednesday, November 27th. Truist Financial decreased their price target on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Raymond James decreased their price target 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. BNP Paribas lowered Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, Barclays cut their target price on Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $634.36.

Insider Activity

In other Martin Marietta Materials news, SVP Michael J. Petro purchased 550 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average cost of $454.37 per share, with a total value of $249,903.50. Following the completion of the transaction, the senior vice president now owns 8,985 shares of the company’s stock, valued at $4,082,514.45. The trade was a 6.52 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 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 value of $632,700.00. Following the sale, the executive vice president now directly owns 3,523 shares of the company’s stock, valued at $1,673,425. The trade was a 27.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.68% 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.