Tredje AP fonden lessened its holdings in Martin Marietta Materials, Inc. (NYSE:MLM – Free Report) by 16.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 24,586 shares of the construction company’s stock after selling 4,885 shares during the period. Tredje AP fonden’s holdings in Martin Marietta Materials were worth $12,699,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in MLM. Whipplewood Advisors LLC purchased a new position in shares of Martin Marietta Materials in the fourth quarter valued at $32,000. Kestra Investment Management LLC bought a new stake in Martin Marietta Materials in the fourth quarter worth $35,000. Hopwood Financial Services Inc. bought a new stake in Martin Marietta Materials in the fourth quarter worth $36,000. EverSource Wealth Advisors LLC lifted its position in Martin Marietta Materials by 91.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company’s stock worth $37,000 after buying an additional 34 shares during the last quarter. Finally, Retirement Wealth Solutions LLC bought a new stake in Martin Marietta Materials in the fourth quarter worth $41,000. Institutional investors own 95.04% of the company’s stock.
Analysts Set New Price Targets
MLM has been the subject of a number of analyst reports. Stephens lowered their price target on Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Stifel Nicolaus initiated coverage on Martin Marietta Materials in a research report on Tuesday, March 4th. They issued a “buy” rating and a $559.00 price target for the company. Wolfe Research upgraded 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. Citigroup lowered their price target on Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Hsbc Global Res upgraded Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. One equities 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 assigned a strong buy rating to the stock. According to MarketBeat.com, Martin Marietta Materials has a consensus rating of “Moderate Buy” and a consensus target price of $634.36.
Insider Buying and Selling
In related news, EVP Donald A. Mccunniff sold 1,332 shares of the firm’s stock in a transaction dated 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 in the company, valued at $1,673,425. This trade represents a 27.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Michael J. Petro acquired 550 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $454.37 per share, with a total value of $249,903.50. Following the purchase, 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. Corporate insiders own 0.68% of the company’s stock.
Martin Marietta Materials Price Performance
Shares of NYSE:MLM opened at $465.23 on Friday. Martin Marietta Materials, Inc. has a twelve month low of $448.50 and a twelve month high of $633.23. The company’s 50 day moving average is $514.83 and its 200 day moving average is $541.00. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. The company has a market cap of $28.37 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89.
Martin Marietta Materials (NYSE:MLM – Get Free Report) last announced its earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, beating 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%. On average, sell-side analysts forecast 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 will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.77%.
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.
Further Reading
- Five stocks we like better than Martin Marietta Materials
- Profitably Trade Stocks at 52-Week Highs
- 3 Undervalued Stocks You Can Buy at a Discount Now
- Do Real Estate Investment Trusts Deserve a Place in Your Portfolio?
- AMD Stock: Can the PC Refresh Cycle Spark a Rally?
- The 3 Best Blue-Chip Stocks to Buy Now
- Micron Stock Spikes 7%—3 Key Catalysts Behind the Move
Want to see what other hedge funds are holding MLM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Martin Marietta Materials, Inc. (NYSE:MLM – Free Report).
Receive News & Ratings for Martin Marietta Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Martin Marietta Materials and related companies with MarketBeat.com's FREE daily email newsletter.