Brandywine Global Investment Management LLC Purchases New Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Brandywine Global Investment Management LLC bought a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 26,458 shares of the construction company’s stock, valued at approximately $13,666,000.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in Martin Marietta Materials by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 7,174,183 shares of the construction company’s stock worth $3,705,466,000 after buying an additional 36,531 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Martin Marietta Materials by 23.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock worth $1,441,663,000 after acquiring an additional 506,705 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Martin Marietta Materials by 11.7% in the 4th quarter. Principal Financial Group Inc. now owns 1,819,744 shares of the construction company’s stock worth $939,898,000 after acquiring an additional 191,043 shares during the period. Amundi increased its stake in Martin Marietta Materials by 10.5% in the 4th quarter. Amundi now owns 1,562,146 shares of the construction company’s stock valued at $808,005,000 after purchasing an additional 148,065 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its holdings in Martin Marietta Materials by 54,277.3% during the fourth quarter. Proficio Capital Partners LLC now owns 918,432 shares of the construction company’s stock worth $474,370,000 after purchasing an additional 916,743 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

Martin Marietta Materials stock opened at $477.92 on Monday. The stock has a fifty day moving average price of $507.03 and a 200 day moving average price of $538.78. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a 52 week low of $448.50 and a 52 week high of $633.23. The firm has a market capitalization of $29.14 billion, a P/E ratio of 14.78, a PEG ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 earnings per share 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%. 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $3.16 annualized dividend and a dividend yield of 0.66%. Martin Marietta Materials’s dividend payout ratio is presently 9.77%.

Analyst Ratings Changes

MLM has been the topic of several research reports. Hsbc Global Res raised Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. HSBC upgraded shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 target price for the company in a research report on Wednesday, December 11th. Morgan Stanley lowered their price target on shares of Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Stifel Nicolaus began coverage on Martin Marietta Materials in a research report on Tuesday, March 4th. They set a “buy” rating and a $559.00 price objective for the company. Finally, Truist Financial lowered their target price on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Martin Marietta Materials has an average rating of “Moderate Buy” and a consensus target price of $628.64.

Insider Transactions at Martin Marietta Materials

In other news, EVP Donald A. Mccunniff sold 1,332 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total value of $632,700.00. Following the transaction, the executive vice president now directly owns 3,523 shares in the company, valued at $1,673,425. This trade represents a 27.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Michael J. Petro acquired 550 shares of Martin Marietta Materials stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the completion of the purchase, the senior vice president now directly 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 disclosure for this purchase can be found here. Insiders own 0.68% of the company’s stock.

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.