Norinchukin Bank The Sells 69 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Norinchukin Bank The reduced its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,164 shares of the construction company’s stock after selling 69 shares during the period. Norinchukin Bank The’s holdings in Martin Marietta Materials were worth $1,118,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Martin Marietta Materials by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 7,174,183 shares of the construction company’s stock worth $3,705,466,000 after acquiring an additional 36,531 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Martin Marietta Materials by 23.3% during the third quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock valued at $1,441,663,000 after buying an additional 506,705 shares during the period. Principal Financial Group Inc. lifted its position in Martin Marietta Materials by 11.7% during the fourth quarter. Principal Financial Group Inc. now owns 1,819,744 shares of the construction company’s stock valued at $939,898,000 after buying an additional 191,043 shares during the period. Amundi grew its position in shares of Martin Marietta Materials by 10.5% in the 4th quarter. Amundi now owns 1,562,146 shares of the construction company’s stock worth $808,005,000 after buying an additional 148,065 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Martin Marietta Materials by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 1,472,411 shares of the construction company’s stock worth $758,499,000 after acquiring an additional 32,082 shares in the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Seaport Res Ptn upgraded shares of Martin Marietta Materials to a “strong-buy” rating in a report on Friday, March 21st. Stephens cut their price target on 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. UBS Group lowered Martin Marietta Materials from a “buy” rating to a “neutral” rating and set a $491.00 price objective for the company. in a research report on Monday, April 7th. Loop Capital dropped their target price on Martin Marietta Materials from $645.00 to $615.00 and set a “buy” rating on the stock in a report on Tuesday, April 1st. Finally, Barclays cut their target price on Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $599.62.

Martin Marietta Materials Trading Down 1.7 %

Shares of NYSE:MLM opened at $485.91 on Tuesday. The stock’s 50-day simple moving average is $485.78 and its two-hundred day simple moving average is $532.28. The stock has a market capitalization of $29.45 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 4.45 and a beta of 0.81. Martin Marietta Materials, Inc. has a 52-week low of $441.95 and a 52-week high of $633.23. 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 posted 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 net margin of 30.54% and a return on equity of 12.11%. Analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

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

Insider Activity at Martin Marietta Materials

In other news, SVP Michael J. Petro acquired 550 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the transaction, the senior vice president now directly owns 8,985 shares of the company’s stock, valued at approximately $4,082,514.45. This trade represents a 6.52 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Donald A. Mccunniff sold 1,332 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was 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 directly owns 3,523 shares of the company’s stock, valued at $1,673,425. This represents a 27.44 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is owned by company insiders.

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.