Peapack Gladstone Financial Corp Has $17.51 Million Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Peapack Gladstone Financial Corp trimmed its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,090 shares of the construction company’s stock after selling 413 shares during the period. Peapack Gladstone Financial Corp’s holdings in Martin Marietta Materials were worth $17,505,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MLM. NBC Securities Inc. bought a new position in shares of Martin Marietta Materials during the 3rd quarter worth about $119,000. Victory Capital Management Inc. lifted its stake in Martin Marietta Materials by 1.3% during the third quarter. Victory Capital Management Inc. now owns 37,974 shares of the construction company’s stock worth $15,588,000 after purchasing an additional 478 shares during the period. Merit Financial Group LLC boosted its holdings in Martin Marietta Materials by 10.2% during the third quarter. Merit Financial Group LLC now owns 938 shares of the construction company’s stock valued at $385,000 after purchasing an additional 87 shares in the last quarter. Fidelis Capital Partners LLC grew its stake in shares of Martin Marietta Materials by 7.0% in the 3rd quarter. Fidelis Capital Partners LLC now owns 600 shares of the construction company’s stock valued at $246,000 after purchasing an additional 39 shares during the period. Finally, Amalgamated Bank grew its stake in shares of Martin Marietta Materials by 2.5% in the 3rd quarter. Amalgamated Bank now owns 16,460 shares of the construction company’s stock valued at $6,757,000 after purchasing an additional 397 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Insider Buying and Selling

In other Martin Marietta Materials news, EVP Roselyn R. Bar sold 10,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $603.29, for a total value of $6,032,900.00. Following the completion of the transaction, the executive vice president now directly owns 59,970 shares of the company’s stock, valued at $36,179,301.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO C Howard Nye sold 15,000 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $604.26, for a total transaction of $9,063,900.00. Following the completion of the transaction, the chief executive officer now owns 134,640 shares in the company, valued at $81,357,566.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Roselyn R. Bar sold 10,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $603.29, for a total transaction of $6,032,900.00. Following the sale, the executive vice president now directly owns 59,970 shares in the company, valued at $36,179,301.30. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on MLM shares. The Goldman Sachs Group raised their target price on Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. HSBC raised shares of Martin Marietta Materials from a “reduce” rating to a “hold” rating and upped their target price for the stock from $376.00 to $543.00 in a report on Thursday, February 22nd. Truist Financial lifted their price target on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Citigroup upped their price objective on shares of Martin Marietta Materials from $635.00 to $708.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Finally, Stephens lifted their target price on shares of Martin Marietta Materials from $575.00 to $605.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $610.27.

Martin Marietta Materials Trading Down 1.4 %

NYSE MLM traded down $7.92 during trading hours on Monday, hitting $563.41. The company’s stock had a trading volume of 449,925 shares, compared to its average volume of 414,523. Martin Marietta Materials, Inc. has a twelve month low of $389.90 and a twelve month high of $626.67. The firm has a market capitalization of $34.73 billion, a P/E ratio of 16.95, a PEG ratio of 2.69 and a beta of 0.93. The company has a quick ratio of 2.41, a current ratio of 3.16 and a debt-to-equity ratio of 0.44. The stock has a fifty day moving average of $595.33 and a 200 day moving average of $545.00.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.05. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the prior year, the business posted $2.16 EPS. Martin Marietta Materials’s revenue was down 7.6% on a year-over-year basis. Equities research analysts forecast that Martin Marietta Materials, Inc. will post 21.88 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be given a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date is Monday, June 3rd. Martin Marietta Materials’s dividend payout ratio is currently 8.77%.

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.