Azimuth Capital Investment Management LLC Reduces Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Azimuth Capital Investment Management LLC lessened its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 43.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 715 shares of the construction company's stock after selling 547 shares during the period. Azimuth Capital Investment Management LLC's holdings in Martin Marietta Materials were worth $369,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of MLM. Franklin Street Advisors Inc. NC increased its position in shares of 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 worth $13,037,000 after acquiring an additional 3,384 shares in the last quarter. Sanctuary Advisors LLC boosted its position 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 worth $4,914,000 after buying an additional 1,286 shares during the period. RMR Wealth Builders raised its position in Martin Marietta Materials by 431.3% in the 4th quarter. RMR Wealth Builders now owns 2,391 shares of the construction company's stock valued at $1,235,000 after buying an additional 1,941 shares during the last quarter. InTrack Investment Management Inc lifted 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 valued at $1,784,000 after acquiring an additional 872 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in Martin Marietta Materials by 24.6% during the 4th quarter. Fifth Third Bancorp now owns 7,005 shares of the construction company's stock worth $3,618,000 after acquiring an additional 1,382 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Morgan Stanley reduced their price objective on shares of Martin Marietta Materials from $657.00 to $622.00 and set an "overweight" rating for the company in a research note on Tuesday, December 17th. Citigroup cut their price objective 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. Loop Capital reduced their target price on Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Seaport Res Ptn upgraded Martin Marietta Materials to a "strong-buy" rating in a research note on Friday, March 21st. Finally, JPMorgan Chase & Co. cut shares of Martin Marietta Materials from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $640.00 to $560.00 in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Martin Marietta Materials has a consensus rating of "Moderate Buy" and a consensus target price of $609.43.

Insider Transactions at Martin Marietta Materials

In related news, SVP Michael J. Petro purchased 550 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average cost of $454.37 per share, with a total value of $249,903.50. Following the transaction, the senior vice president now owns 8,985 shares of the company's stock, valued at $4,082,514.45. This represents a 6.52 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Donald A. Mccunniff sold 1,332 shares of Martin Marietta Materials stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total transaction of $632,700.00. Following the transaction, the executive vice president now directly owns 3,523 shares in the company, valued at approximately $1,673,425. This represents a 27.44 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.68% of the company's stock.

Martin Marietta Materials Trading Down 0.2 %

Shares of NYSE:MLM traded down $1.12 during trading on Tuesday, reaching $501.81. The stock had a trading volume of 87,165 shares, compared to its average volume of 488,121. Martin Marietta Materials, Inc. has a 52 week low of $441.95 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 firm's fifty day moving average is $489.70 and its 200 day moving average is $533.50. The stock has a market cap of $30.60 billion, a price-to-earnings ratio of 15.52, a P/E/G ratio of 4.45 and a beta of 0.81.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted 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 return on equity of 12.11% and a net margin of 30.54%. As a group, equities analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date was Monday, March 3rd. Martin Marietta Materials's dividend payout ratio is currently 9.77%.

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.