Choate Investment Advisors Has $307,000 Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Choate Investment Advisors grew its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 5.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 595 shares of the construction company’s stock after purchasing an additional 33 shares during the period. Choate Investment Advisors’ holdings in Martin Marietta Materials were worth $307,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Integrated Wealth Concepts LLC boosted its stake in shares of Martin Marietta Materials by 2.5% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 782 shares of the construction company’s stock valued at $421,000 after purchasing an additional 19 shares in the last quarter. Checchi Capital Advisers LLC boosted its stake in shares of Martin Marietta Materials by 1.4% in the 4th quarter. Checchi Capital Advisers LLC now owns 1,336 shares of the construction company’s stock valued at $690,000 after purchasing an additional 19 shares in the last quarter. iA Global Asset Management Inc. boosted its stake in shares of Martin Marietta Materials by 3.6% in the 3rd quarter. iA Global Asset Management Inc. now owns 570 shares of the construction company’s stock valued at $307,000 after purchasing an additional 20 shares in the last quarter. Brooklyn Investment Group boosted its stake in shares of Martin Marietta Materials by 4.7% in the 4th quarter. Brooklyn Investment Group now owns 447 shares of the construction company’s stock valued at $231,000 after purchasing an additional 20 shares in the last quarter. Finally, Financial Counselors Inc. boosted its stake in shares of Martin Marietta Materials by 1.9% in the 3rd quarter. Financial Counselors Inc. now owns 1,123 shares of the construction company’s stock valued at $604,000 after purchasing an additional 21 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Insider Activity

In other Martin Marietta Materials news, SVP Michael J. Petro bought 550 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average cost of $454.37 per share, with a total value of $249,903.50. Following the purchase, the senior vice president now owns 8,985 shares in the company, valued at $4,082,514.45. This trade represents a 6.52 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 stock was 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 approximately $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. 0.68% of the stock is currently owned by company insiders.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $489.30 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. The stock has a market cap of $29.83 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. The stock has a 50-day moving average of $513.52 and a 200-day moving average of $540.64. Martin Marietta Materials, Inc. has a one year low of $448.50 and a one year high of $633.23.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 EPS 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, sell-side analysts expect 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 $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 0.65%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.77%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MLM shares. Stephens reduced their price target on shares of Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Loop Capital reduced their price target on shares of Martin Marietta Materials from $680.00 to $645.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Barclays reduced their price target on shares of 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. Citigroup reduced their price target on shares of Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, StockNews.com downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $634.36.

Martin Marietta Materials 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.