Bank of Hawaii Has $222,000 Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Bank of Hawaii lowered its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 88.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 430 shares of the construction company's stock after selling 3,439 shares during the period. Bank of Hawaii's holdings in Martin Marietta Materials were worth $222,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in MLM. Lee Danner & Bass Inc. bought a new stake in Martin Marietta Materials in the fourth quarter valued at $28,000. Whipplewood Advisors LLC acquired a new stake in shares of Martin Marietta Materials in the fourth quarter valued at approximately $32,000. Kestra Investment Management LLC bought a new stake in shares of Martin Marietta Materials during the 4th quarter worth approximately $35,000. Hopwood Financial Services Inc. bought a new stake in Martin Marietta Materials in the 4th quarter valued at $36,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Martin Marietta Materials by 91.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company's stock valued at $37,000 after purchasing an additional 34 shares during the last quarter. Institutional investors own 95.04% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on MLM shares. Raymond James lowered their price objective on 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. StockNews.com cut Martin Marietta Materials from a "hold" rating to a "sell" rating in a research report on Thursday, February 20th. Barclays reduced their target price on shares of Martin Marietta Materials from $645.00 to $600.00 and set an "overweight" rating for the company in a research report on Thursday, February 13th. Morgan Stanley lowered their price target 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, Truist Financial decreased their price target on shares of Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Martin Marietta Materials presently has a consensus rating of "Moderate Buy" and a consensus price target of $609.43.

Martin Marietta Materials Price Performance

Shares of MLM traded down $3.23 during mid-day trading on Wednesday, hitting $495.82. The company's stock had a trading volume of 72,160 shares, compared to its average volume of 487,585. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $633.23. 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 firm has a market capitalization of $30.23 billion, a P/E ratio of 15.34, a P/E/G ratio of 4.45 and a beta of 0.81. The firm has a 50-day simple moving average of $488.79 and a 200 day simple moving average of $533.26.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, beating 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%. Analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were paid a dividend of $0.79 per share. The ex-dividend date was Monday, March 3rd. This represents a $3.16 annualized dividend and a yield of 0.64%. Martin Marietta Materials's dividend payout ratio is currently 9.77%.

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 stock was sold at an average price of $475.00, for a total value of $632,700.00. Following the completion of the sale, the executive vice president now directly owns 3,523 shares in the company, valued at approximately $1,673,425. This trade represents a 27.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Michael J. Petro purchased 550 shares of the stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average price 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 in the company, valued at $4,082,514.45. This trade represents a 6.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.68% of the stock is owned by company insiders.

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.