Martin Marietta Materials, Inc. (NYSE:MLM) Stock Position Cut by M.D. Sass LLC

M.D. Sass LLC decreased its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 1.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 100,158 shares of the construction company’s stock after selling 1,925 shares during the period. Martin Marietta Materials comprises approximately 3.9% of M.D. Sass LLC’s holdings, making the stock its 16th largest position. M.D. Sass LLC’s holdings in Martin Marietta Materials were worth $51,732,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Lee Danner & Bass Inc. bought a new position in shares of Martin Marietta Materials in the fourth quarter valued at approximately $28,000. Whipplewood Advisors LLC acquired a new stake in Martin Marietta Materials in the fourth quarter worth approximately $32,000. Kestra Investment Management LLC acquired a new stake in Martin Marietta Materials in the fourth quarter worth approximately $35,000. Hopwood Financial Services Inc. bought a new position in Martin Marietta Materials during the 4th quarter valued at $36,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Martin Marietta Materials by 91.9% during 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. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $490.51 on Tuesday. The company’s fifty day moving average is $510.82 and its two-hundred day moving average is $539.41. The company has a market cap of $29.91 billion, a P/E ratio of 15.17, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. Martin Marietta Materials, Inc. has a 12-month low of $448.50 and a 12-month high of $633.23. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, beating 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 analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date is Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is 9.77%.

Insider Buying and Selling

In other news, EVP Donald A. Mccunniff sold 1,332 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 3,523 shares in the company, valued at $1,673,425. The trade was a 27.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Michael J. Petro acquired 550 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average price 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. This represents a 6.52 % increase in their position. The disclosure for this purchase can be found here. 0.68% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MLM. Raymond James cut their price objective on Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Truist Financial cut their price target on shares of Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Loop Capital lowered their price objective on shares of Martin Marietta Materials from $680.00 to $645.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Hsbc Global Res upgraded shares of Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Finally, Stephens reduced their target price on shares of Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Martin Marietta Materials presently has a consensus 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.