KLP Kapitalforvaltning AS Makes New Investment in Martin Marietta Materials, Inc. (NYSE:MLM)

KLP Kapitalforvaltning AS acquired a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 20,893 shares of the construction company’s stock, valued at approximately $10,791,000.

Other large investors have also modified their holdings of the company. Lee Danner & Bass Inc. acquired a new position in Martin Marietta Materials during the fourth quarter worth approximately $28,000. Whipplewood Advisors LLC purchased a new stake in shares of Martin Marietta Materials during the 4th quarter valued at $32,000. Kestra Investment Management LLC acquired a new stake in shares of Martin Marietta Materials during the 4th quarter worth $35,000. Hopwood Financial Services Inc. purchased a new position in shares of Martin Marietta Materials in the 4th quarter worth $36,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Martin Marietta Materials by 91.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company’s stock valued at $37,000 after acquiring an additional 34 shares during the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Michael J. Petro purchased 550 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was purchased 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Donald A. Mccunniff sold 1,332 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total transaction of $632,700.00. Following the transaction, the executive vice president now owns 3,523 shares of the company’s stock, valued at approximately $1,673,425. This trade 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 company insiders.

Martin Marietta Materials Stock Up 2.8 %

MLM stock opened at $490.51 on Tuesday. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. The firm has a 50 day simple moving average of $510.82 and a 200-day simple moving average of $539.41. The company has a market capitalization of $29.91 billion, a P/E ratio of 15.17, a PEG ratio of 4.45 and a beta of 0.89. Martin Marietta Materials, Inc. has a twelve month low of $448.50 and a twelve month high of $633.23.

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%. 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 company 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 dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Monday, March 3rd. Martin Marietta Materials’s payout ratio is currently 9.77%.

Wall Street Analysts Forecast Growth

MLM has been the topic of several research analyst reports. Morgan Stanley reduced their price objective on Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Loop Capital dropped their price objective on shares of Martin Marietta Materials from $680.00 to $645.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Barclays reduced their target price on shares of Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Citigroup lowered their price target on Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, StockNews.com cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $628.64.

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.