Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Bank of America Corp DE

Bank of America Corp DE trimmed its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 6.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,590,765 shares of the construction company’s stock after selling 116,425 shares during the period. Bank of America Corp DE owned about 2.60% of Martin Marietta Materials worth $821,630,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of MLM. Checchi Capital Advisers LLC lifted 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 during the period. OneDigital Investment Advisors LLC raised its position in shares of Martin Marietta Materials by 1.9% in the fourth quarter. OneDigital Investment Advisors LLC now owns 1,020 shares of the construction company’s stock worth $527,000 after acquiring an additional 19 shares during the period. Brooklyn Investment Group raised its position in shares of Martin Marietta Materials by 4.7% in the fourth quarter. Brooklyn Investment Group now owns 447 shares of the construction company’s stock worth $231,000 after acquiring an additional 20 shares during the period. OLD National Bancorp IN boosted its stake in shares of Martin Marietta Materials by 4.5% during the 4th quarter. OLD National Bancorp IN now owns 483 shares of the construction company’s stock worth $249,000 after acquiring an additional 21 shares in the last quarter. Finally, Signaturefd LLC grew its position in shares of Martin Marietta Materials by 2.6% during the 4th quarter. Signaturefd LLC now owns 835 shares of the construction company’s stock valued at $431,000 after acquiring an additional 21 shares during the period. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Up 1.3 %

MLM stock opened at $542.76 on Tuesday. Martin Marietta Materials, Inc. has a one year low of $441.95 and a one year high of $633.23. The firm has a market cap of $32.72 billion, a PE ratio of 16.79, a PEG ratio of 4.45 and a beta of 0.89. The firm’s 50 day moving average price is $486.36 and its 200-day moving average price is $529.79. 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, April 30th. The construction company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.88 by $0.02. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.36 billion. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.93 EPS. On average, equities research analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is 18.20%.

Insider Transactions at Martin Marietta Materials

In other Martin Marietta Materials news, SVP Michael J. Petro purchased 550 shares of Martin Marietta Materials stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average price of $454.37 per share, with a total value of $249,903.50. Following the completion of the transaction, the senior vice president now owns 8,985 shares of the company’s stock, 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 legal filing with the SEC, which can be accessed through this link. Also, EVP Donald A. Mccunniff sold 1,332 shares of Martin Marietta Materials stock in a transaction that occurred 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 owns 3,523 shares of the company’s stock, valued at $1,673,425. This trade represents a 27.44 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MLM. Truist Financial lowered their price target on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Stephens dropped 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 note on Thursday, February 13th. Loop Capital decreased their price objective on shares of Martin Marietta Materials from $645.00 to $615.00 and set a “buy” rating on the stock in a report on Tuesday, April 1st. JPMorgan Chase & Co. downgraded shares of Martin Marietta Materials from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $640.00 to $560.00 in a research report on Wednesday, March 19th. Finally, Barclays lowered their price objective on Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and a consensus price target of $603.23.

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.