Donald A. Mccunniff Sells 1,332 Shares of Martin Marietta Materials, Inc. (NYSE:MLM) Stock

Martin Marietta Materials, Inc. (NYSE:MLM) EVP Donald A. Mccunniff sold 1,332 shares of the company’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 approximately $1,673,425. The trade was a 27.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Martin Marietta Materials Stock Down 3.1 %

Shares of Martin Marietta Materials stock opened at $461.02 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 1 year low of $448.50 and a 1 year high of $633.23. The firm’s 50-day moving average is $518.87 and its two-hundred day moving average is $543.18. The stock has a market cap of $28.11 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 4.45 and a beta of 0.89.

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

Martin Marietta Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.69%. The ex-dividend date is Monday, March 3rd. Martin Marietta Materials’s payout ratio is 9.77%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Proficio Capital Partners LLC boosted its holdings in shares of Martin Marietta Materials by 54,277.3% in the 4th quarter. Proficio Capital Partners LLC now owns 918,432 shares of the construction company’s stock valued at $474,370,000 after buying an additional 916,743 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Martin Marietta Materials by 76.2% in 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 buying an additional 704,460 shares in the last quarter. Norges Bank bought a new stake in shares of Martin Marietta Materials in the 4th quarter valued at about $306,863,000. JPMorgan Chase & Co. boosted its holdings in shares of Martin Marietta Materials by 23.3% in the 3rd 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 in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Martin Marietta Materials in the 4th quarter valued at about $196,374,000. 95.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MLM has been the topic of several recent analyst reports. Barclays reduced their target price on shares of 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. StockNews.com downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th. HSBC raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 target price on the stock in a research note on Wednesday, December 11th. Loop Capital reduced their target price on shares of Martin Marietta Materials from $680.00 to $645.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Finally, Morgan Stanley reduced their target price on shares of 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. One investment 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 company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.