JPMorgan Chase & Co. Cuts Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

JPMorgan Chase & Co. reduced its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 0.1% during the fourth quarter, HoldingsChannel reports. The firm owned 2,675,766 shares of the construction company’s stock after selling 2,659 shares during the period. JPMorgan Chase & Co.’s holdings in Martin Marietta Materials were worth $1,382,034,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Integrated Wealth Concepts LLC increased its holdings 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 worth $421,000 after buying an additional 19 shares during the last quarter. Checchi Capital Advisers LLC increased its stake in Martin Marietta Materials by 1.4% in the fourth quarter. Checchi Capital Advisers LLC now owns 1,336 shares of the construction company’s stock valued at $690,000 after acquiring an additional 19 shares during the last quarter. iA Global Asset Management Inc. raised its position in Martin Marietta Materials by 3.6% during the third 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 lifted its stake in Martin Marietta Materials by 4.7% during the fourth quarter. Brooklyn Investment Group now owns 447 shares of the construction company’s stock worth $231,000 after purchasing an additional 20 shares during the last quarter. Finally, Financial Counselors Inc. boosted its holdings 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 worth $604,000 after purchasing an additional 21 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. BNP Paribas cut Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Raymond James reduced their price target on shares of Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Seaport Res Ptn upgraded shares of Martin Marietta Materials to a “strong-buy” rating in a report on Friday, March 21st. HSBC raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 target price on the stock in a report on Wednesday, December 11th. Finally, StockNews.com downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $628.64.

Martin Marietta Materials Trading Up 0.4 %

NYSE MLM opened at $485.04 on Friday. The stock has a market cap of $29.57 billion, a P/E ratio of 15.00, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. Martin Marietta Materials, Inc. has a fifty-two week low of $448.50 and a fifty-two week high of $633.23. The stock has a 50 day simple moving average of $508.34 and a two-hundred day simple moving average of $538.54. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50.

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, topping 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%. On average, analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio is currently 9.77%.

Insider Buying and Selling

In other news, 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 completion of the transaction, the executive vice president now owns 3,523 shares of the company’s stock, valued at approximately $1,673,425. This represents a 27.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael J. Petro bought 550 shares of the stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average price 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 disclosure for this purchase can be found here. 0.68% of the stock is owned by insiders.

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.