Martin Marietta Materials, Inc. (NYSE:MLM) Shares Purchased by AGF Management Ltd.

AGF Management Ltd. increased its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 6.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,464 shares of the construction company’s stock after purchasing an additional 201 shares during the period. AGF Management Ltd.’s holdings in Martin Marietta Materials were worth $1,789,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Whipplewood Advisors LLC acquired a new stake in Martin Marietta Materials during the fourth quarter worth about $32,000. Kestra Investment Management LLC purchased a new position in Martin Marietta Materials during the fourth quarter worth about $35,000. Retirement Wealth Solutions LLC purchased a new position in Martin Marietta Materials during the fourth quarter worth about $41,000. R Squared Ltd purchased a new position in Martin Marietta Materials during the fourth quarter worth about $41,000. Finally, Midwest Capital Advisors LLC purchased a new position in Martin Marietta Materials during the fourth quarter worth about $47,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on MLM. JPMorgan Chase & Co. raised shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $515.00 to $640.00 in a research note on Wednesday, November 27th. Wolfe Research raised shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 target price for the company in a research note on Wednesday, January 8th. StockNews.com lowered shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th. Morgan Stanley lowered 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 note on Tuesday, December 17th. Finally, Citigroup lowered 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 note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and an average price target of $634.36.

Insiders Place Their Bets

In other Martin Marietta Materials news, SVP Michael J. Petro bought 550 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $454.37 per share, with a total value of $249,903.50. Following the acquisition, the senior vice president now directly 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 Martin Marietta Materials stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total transaction of $632,700.00. Following the completion of the transaction, the executive vice president now directly owns 3,523 shares in the company, 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. 0.68% of the stock is owned by corporate insiders.

Martin Marietta Materials Stock Up 2.8 %

MLM stock opened at $478.12 on Friday. 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 twelve month low of $448.50 and a twelve month high of $633.23. The company’s 50 day moving average is $514.06 and its two-hundred day moving average is $540.54. The stock has a market cap of $29.15 billion, a P/E ratio of 14.79, a PEG ratio of 4.45 and a beta of 0.89.

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, topping 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%. Research analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.79 per share. The ex-dividend date is Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a yield of 0.66%. Martin Marietta Materials’s payout ratio is currently 9.77%.

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.