Thomas J. Herzfeld Advisors Inc. Cuts Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Thomas J. Herzfeld Advisors Inc. trimmed its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 5.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,640 shares of the construction company’s stock after selling 200 shares during the period. Thomas J. Herzfeld Advisors Inc.’s holdings in Martin Marietta Materials were worth $1,880,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Franklin Street Advisors Inc. NC raised its stake in Martin Marietta Materials by 15.5% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 25,242 shares of the construction company’s stock valued at $13,037,000 after buying an additional 3,384 shares during the last quarter. Sanctuary Advisors LLC increased its holdings in shares of Martin Marietta Materials by 18.5% during the third quarter. Sanctuary Advisors LLC now owns 8,220 shares of the construction company’s stock valued at $4,914,000 after acquiring an additional 1,286 shares in the last quarter. RMR Wealth Builders raised its position in shares of Martin Marietta Materials by 431.3% in the 4th quarter. RMR Wealth Builders now owns 2,391 shares of the construction company’s stock worth $1,235,000 after purchasing an additional 1,941 shares during the last quarter. Benjamin Edwards Inc. boosted its stake in Martin Marietta Materials by 2,448.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 1,376 shares of the construction company’s stock worth $741,000 after purchasing an additional 1,322 shares in the last quarter. Finally, InTrack Investment Management Inc boosted its stake in Martin Marietta Materials by 33.9% in the 4th quarter. InTrack Investment Management Inc now owns 3,446 shares of the construction company’s stock worth $1,784,000 after purchasing an additional 872 shares in the last quarter. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Stock Up 0.1 %

Shares of MLM stock opened at $478.39 on Tuesday. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a 12 month low of $448.50 and a 12 month high of $633.23. The stock has a market cap of $29.17 billion, a P/E ratio of 14.80, a P/E/G ratio of 4.45 and a beta of 0.89. The company has a 50 day simple moving average of $505.73 and a two-hundred day simple moving average of $538.52.

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, beating 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%. On average, research analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.66%. The ex-dividend date was Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 9.77%.

Analyst Ratings Changes

Several research analysts have issued reports on MLM shares. Seaport Res Ptn raised shares of Martin Marietta Materials to a “strong-buy” rating in a report on Friday, March 21st. Truist Financial lowered their price objective on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Citigroup reduced their target price on Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating for the company in a report on Monday, January 6th. Stifel Nicolaus assumed coverage on Martin Marietta Materials in a report on Tuesday, March 4th. They set a “buy” rating and a $559.00 price target on the stock. Finally, Morgan Stanley dropped their price objective on Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $628.64.

Insider Activity

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 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael J. Petro bought 550 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average price 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 in the company, valued at $4,082,514.45. This represents a 6.52 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.68% of the company’s stock.

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.