Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC trimmed its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 49.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,073 shares of the construction company’s stock after selling 1,038 shares during the period. Frank Rimerman Advisors LLC’s holdings in Martin Marietta Materials were worth $554,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in MLM. Principal Financial Group Inc. lifted its stake 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 worth $876,648,000 after acquiring an additional 704,460 shares during the period. Versor Investments LP acquired a new stake in shares of Martin Marietta Materials in the 3rd quarter worth approximately $269,000. Aptus Capital Advisors LLC lifted its stake in shares of Martin Marietta Materials by 6.6% in the 3rd quarter. Aptus Capital Advisors LLC now owns 583 shares of the construction company’s stock worth $314,000 after acquiring an additional 36 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Martin Marietta Materials by 0.7% in the 3rd quarter. Victory Capital Management Inc. now owns 36,031 shares of the construction company’s stock worth $19,394,000 after acquiring an additional 246 shares during the period. Finally, Metis Global Partners LLC lifted its stake in shares of Martin Marietta Materials by 1.1% in the 3rd quarter. Metis Global Partners LLC now owns 1,963 shares of the construction company’s stock worth $1,057,000 after acquiring an additional 22 shares during the period. 95.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Raymond James reduced their price target on shares of Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Stephens dropped their target price on shares of Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Stifel Nicolaus initiated coverage on shares of Martin Marietta Materials in a report on Tuesday, March 4th. They issued a “buy” rating and a $559.00 target price on the stock. Morgan Stanley dropped 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 report on Tuesday, December 17th. Finally, Citigroup dropped their target price on shares of Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating on the stock in a report on Monday, January 6th. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $634.36.

Martin Marietta Materials Stock Up 2.8 %

Shares of NYSE:MLM opened at $478.12 on Monday. Martin Marietta Materials, Inc. has a 52 week low of $448.50 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. The company has a market cap of $29.15 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. The firm has a 50 day simple moving average of $514.06 and a 200 day simple moving average of $540.88.

Martin Marietta Materials (NYSE:MLM) last released its earnings results 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%. As a group, 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 announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be given a $0.79 dividend. The ex-dividend date is Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a yield of 0.66%. Martin Marietta Materials’s payout ratio is 9.77%.

Insiders Place Their Bets

In other Martin Marietta Materials news, SVP Michael J. Petro purchased 550 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average price of $454.37 per share, for a total transaction of $249,903.50. Following the acquisition, the senior vice president now owns 8,985 shares of the company’s stock, valued at $4,082,514.45. This trade represents a 6.52 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction, the executive vice president now owns 3,523 shares in the company, valued at $1,673,425. This represents a 27.44 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

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.