Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Marietta Investment Partners LLC

Marietta Investment Partners LLC cut its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 14.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,709 shares of the construction company’s stock after selling 1,655 shares during the period. Martin Marietta Materials makes up approximately 1.1% of Marietta Investment Partners LLC’s holdings, making the stock its 28th biggest position. Marietta Investment Partners LLC’s holdings in Martin Marietta Materials were worth $5,015,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Lee Danner & Bass Inc. acquired a new stake in shares of Martin Marietta Materials during the fourth quarter valued at approximately $28,000. Whipplewood Advisors LLC bought a new stake in shares of Martin Marietta Materials during the 4th quarter worth $32,000. Kestra Investment Management LLC bought a new stake in shares of Martin Marietta Materials during the 4th quarter worth $35,000. Hopwood Financial Services Inc. bought a new stake in shares of Martin Marietta Materials during the 4th quarter worth $36,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Martin Marietta Materials by 91.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company’s stock valued at $37,000 after purchasing an additional 34 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on MLM shares. Morgan Stanley dropped 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. Barclays lowered their price objective on shares of Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Wolfe Research raised shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 target price on the stock in a research note on Wednesday, January 8th. Truist Financial reduced their target price on shares of Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Finally, Stifel Nicolaus assumed coverage on shares of Martin Marietta Materials in a research note on Tuesday, March 4th. They set a “buy” rating and a $559.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $628.64.

Martin Marietta Materials Trading Down 1.3 %

Shares of Martin Marietta Materials stock opened at $477.49 on Friday. Martin Marietta Materials, Inc. has a 1 year low of $448.50 and a 1 year high of $633.23. The firm has a market cap of $29.11 billion, a PE ratio of 14.77, a P/E/G ratio of 4.45 and a beta of 0.89. The stock has a fifty day moving average price of $511.26 and a 200-day moving average price of $539.18. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40.

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 return on equity of 12.11% and a net margin of 30.54%. 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 will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be paid a $0.79 dividend. 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 dividend payout ratio (DPR) is currently 9.77%.

Insiders Place Their Bets

In related news, SVP Michael J. Petro bought 550 shares of the company’s stock in a transaction on 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 completion of the acquisition, the senior vice president now 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Donald A. Mccunniff sold 1,332 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 3,523 shares in the company, valued at approximately $1,673,425. This represents a 27.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

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.