Insider Buying: Martin Marietta Materials, Inc. (NYSE:MLM) SVP Buys 550 Shares of Stock

Martin Marietta Materials, Inc. (NYSE:MLM) 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 owns 8,985 shares in the company, valued at approximately $4,082,514.45. The trade was a 6.52 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Martin Marietta Materials Stock Down 3.1 %

Martin Marietta Materials stock opened at $461.02 on Friday. Martin Marietta Materials, Inc. has a 1-year low of $448.50 and a 1-year high of $633.23. The firm has a market capitalization of $28.11 billion, a price-to-earnings ratio of 14.26, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. The firm’s fifty day moving average price is $518.87 and its two-hundred day moving average price is $543.18. 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 (NYSE:MLM) last released its quarterly earnings data 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 net margin of 30.54% and a return on equity of 12.11%. On average, equities research analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is 9.77%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MLM. Farther Finance Advisors LLC lifted its position in shares of Martin Marietta Materials by 11.6% during the third quarter. Farther Finance Advisors LLC now owns 317 shares of the construction company’s stock valued at $171,000 after purchasing an additional 33 shares in the last quarter. Intact Investment Management Inc. lifted its position in shares of Martin Marietta Materials by 9.9% during the third quarter. Intact Investment Management Inc. now owns 8,900 shares of the construction company’s stock valued at $4,790,000 after purchasing an additional 800 shares in the last quarter. National Pension Service lifted its position in shares of Martin Marietta Materials by 0.7% during the third quarter. National Pension Service now owns 74,515 shares of the construction company’s stock valued at $40,108,000 after purchasing an additional 523 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in shares of Martin Marietta Materials by 1.0% during the third quarter. Asset Management One Co. Ltd. now owns 22,775 shares of the construction company’s stock valued at $12,259,000 after purchasing an additional 222 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its position in shares of Martin Marietta Materials by 8.2% during the third quarter. QRG Capital Management Inc. now owns 1,734 shares of the construction company’s stock valued at $933,000 after purchasing an additional 132 shares in the last quarter. 95.04% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MLM shares. StockNews.com cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. Citigroup decreased their price objective 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. Morgan Stanley decreased their price objective on shares of Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. 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. Finally, HSBC upgraded shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price objective for the company in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Martin Marietta Materials currently has an average rating of “Moderate Buy” and an average price target of $634.36.

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.