M&T Bank Corp Has $10.25 Million Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

M&T Bank Corp trimmed its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 2.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,837 shares of the construction company’s stock after selling 590 shares during the period. M&T Bank Corp’s holdings in Martin Marietta Materials were worth $10,246,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Whipplewood Advisors LLC acquired a new stake in shares of Martin Marietta Materials in the 4th quarter valued at about $32,000. First Personal Financial Services bought a new position in Martin Marietta Materials in the third quarter worth approximately $33,000. Kestra Investment Management LLC acquired a new stake in Martin Marietta Materials in the fourth quarter valued at approximately $35,000. Retirement Wealth Solutions LLC bought a new stake in shares of Martin Marietta Materials during the fourth quarter valued at approximately $41,000. Finally, R Squared Ltd acquired a new position in shares of Martin Marietta Materials during the fourth quarter worth approximately $41,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analysts Set New Price Targets

MLM has been the subject of several research reports. Stifel Nicolaus began coverage on shares of Martin Marietta Materials in a research report on Tuesday. They issued a “buy” rating and a $559.00 price target for the company. Citigroup decreased their target price on shares of Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Hsbc Global Res raised shares of Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. JPMorgan Chase & Co. raised Martin Marietta Materials from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $515.00 to $640.00 in a report on Wednesday, November 27th. Finally, Wolfe Research raised Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price objective for the company in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $634.36.

Martin Marietta Materials Stock Down 0.3 %

Shares of NYSE:MLM opened at $476.02 on Friday. Martin Marietta Materials, Inc. has a 1 year low of $451.09 and a 1 year high of $633.23. The company has a market capitalization of $29.02 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. The business has a fifty day moving average price of $520.23 and a two-hundred day moving average price of $543.69. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, beating 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%. Analysts forecast 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 declared 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 is Monday, March 3rd. This represents a $3.16 annualized dividend and a dividend yield of 0.66%. Martin Marietta Materials’s payout ratio is currently 9.77%.

Insider Buying and Selling

In other news, SVP Michael J. Petro bought 550 shares of the stock in a transaction on Tuesday, March 4th. The shares were 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 $4,082,514.45. This represents a 6.52 % increase in their position. The transaction 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 company’s stock in a transaction 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 transaction, the executive vice president now directly owns 3,523 shares in the company, valued at $1,673,425. This represents a 27.44 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by insiders.

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.