M&T Bank Corp Has $10.25 Million Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

M&T Bank Corp reduced its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 2.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,837 shares of the construction company’s stock after selling 590 shares during the quarter. M&T Bank Corp’s holdings in Martin Marietta Materials were worth $10,246,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Integrated Wealth Concepts LLC lifted its position in Martin Marietta Materials by 2.5% during the third quarter. Integrated Wealth Concepts LLC now owns 782 shares of the construction company’s stock worth $421,000 after purchasing an additional 19 shares during the period. Checchi Capital Advisers LLC lifted its holdings in shares of Martin Marietta Materials by 1.4% during the 4th quarter. Checchi Capital Advisers LLC now owns 1,336 shares of the construction company’s stock worth $690,000 after acquiring an additional 19 shares during the period. iA Global Asset Management Inc. lifted its holdings in shares of Martin Marietta Materials by 3.6% during the 3rd quarter. iA Global Asset Management Inc. now owns 570 shares of the construction company’s stock worth $307,000 after acquiring an additional 20 shares during the period. Brooklyn Investment Group boosted its position in shares of Martin Marietta Materials by 4.7% during the 4th quarter. Brooklyn Investment Group now owns 447 shares of the construction company’s stock worth $231,000 after acquiring an additional 20 shares in the last quarter. Finally, Financial Counselors Inc. increased its stake in Martin Marietta Materials by 1.9% in the third quarter. Financial Counselors Inc. now owns 1,123 shares of the construction company’s stock valued at $604,000 after acquiring an additional 21 shares during the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Trading Down 0.3 %

MLM opened at $476.02 on Friday. 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, Inc. has a fifty-two week low of $451.09 and a fifty-two week high of $633.23. The company’s 50 day moving average price is $520.23 and its two-hundred day moving average price is $543.69. The firm has a market capitalization of $29.02 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM) last issued 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 net margin of 30.54% and a return on equity of 12.11%. As a group, research analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

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 paid a $0.79 dividend. The ex-dividend date is Monday, March 3rd. This represents a $3.16 annualized dividend and a dividend yield of 0.66%. Martin Marietta Materials’s payout ratio is 9.77%.

Insider Transactions at Martin Marietta Materials

In other Martin Marietta Materials news, EVP Donald A. Mccunniff sold 1,332 shares of the 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 sale, the executive vice president now owns 3,523 shares of the company’s stock, valued at approximately $1,673,425. This represents a 27.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Michael J. Petro purchased 550 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average price 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 in the company, valued at approximately $4,082,514.45. This trade represents a 6.52 % increase in their position. The disclosure for this purchase can be found here. 0.68% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Hsbc Global Res upgraded Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. upgraded Martin Marietta Materials from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $515.00 to $640.00 in a research report on Wednesday, November 27th. Morgan Stanley reduced their price objective on Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. StockNews.com downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th. Finally, Raymond James reduced their price target on shares of Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $634.36.

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.