Commerce Bank Has $1.29 Million Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Commerce Bank decreased its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 3.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,503 shares of the construction company’s stock after selling 96 shares during the period. Commerce Bank’s holdings in Martin Marietta Materials were worth $1,293,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in shares of Martin Marietta Materials by 76.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock valued at $876,648,000 after acquiring an additional 704,460 shares during the period. Virtu Financial LLC acquired a new stake in shares of Martin Marietta Materials in the 3rd quarter valued at about $2,975,000. Wilmington Savings Fund Society FSB bought a new stake in Martin Marietta Materials in the 3rd quarter valued at about $197,000. Tidal Investments LLC raised its stake in Martin Marietta Materials by 89.3% during the 3rd quarter. Tidal Investments LLC now owns 8,008 shares of the construction company’s stock worth $4,310,000 after buying an additional 3,778 shares during the period. Finally, Synovus Financial Corp grew its stake in Martin Marietta Materials by 8.0% in the third quarter. Synovus Financial Corp now owns 10,021 shares of the construction company’s stock valued at $5,394,000 after acquiring an additional 741 shares during the period. 95.04% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Martin Marietta Materials

In other news, EVP Donald A. Mccunniff sold 1,332 shares of the firm’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 sale, the executive vice president now owns 3,523 shares in the company, valued at approximately $1,673,425. This trade represents a 27.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Michael J. Petro bought 550 shares of Martin Marietta Materials stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.68% of the company’s stock.

Martin Marietta Materials Trading Down 1.7 %

NYSE:MLM opened at $485.91 on Tuesday. Martin Marietta Materials, Inc. has a 1 year low of $441.95 and a 1 year high of $633.23. The stock’s fifty day moving average price is $485.78 and its two-hundred day moving average price is $532.28. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. The company has a market cap of $29.45 billion, a P/E ratio of 15.03, a P/E/G ratio of 4.45 and a beta of 0.81.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 earnings per share (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%. As a group, analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were paid a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend was Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio is presently 9.77%.

Analyst Ratings Changes

MLM has been the subject of several research reports. Wolfe Research raised shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price target for the company in a research report on Wednesday, January 8th. Loop Capital decreased their price target on Martin Marietta Materials from $645.00 to $615.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. Seaport Res Ptn upgraded Martin Marietta Materials to a “strong-buy” rating in a research note on Friday, March 21st. Barclays reduced their target price on shares of Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. downgraded shares of Martin Marietta Materials from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $640.00 to $560.00 in a research report on Wednesday, March 19th. 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 assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $599.62.

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.