Martin Marietta Materials, Inc. (NYSE:MLM) Stock Position Decreased by Federated Hermes Inc.

Federated Hermes Inc. decreased its holdings in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 3.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 91,993 shares of the construction company's stock after selling 3,697 shares during the period. Federated Hermes Inc. owned 0.15% of Martin Marietta Materials worth $47,514,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Integrated Wealth Concepts LLC grew its stake in shares of Martin Marietta Materials by 2.5% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 782 shares of the construction company's stock worth $421,000 after purchasing an additional 19 shares during the period. Checchi Capital Advisers LLC grew its position in Martin Marietta Materials by 1.4% during the fourth quarter. Checchi Capital Advisers LLC now owns 1,336 shares of the construction company's stock valued at $690,000 after buying an additional 19 shares during the period. iA Global Asset Management Inc. raised its position in shares of Martin Marietta Materials by 3.6% in the third quarter. iA Global Asset Management Inc. now owns 570 shares of the construction company's stock worth $307,000 after acquiring an additional 20 shares during the period. Brooklyn Investment Group raised its stake in shares of Martin Marietta Materials by 4.7% during the 4th quarter. Brooklyn Investment Group now owns 447 shares of the construction company's stock worth $231,000 after buying an additional 20 shares during the period. Finally, OLD National Bancorp IN boosted its stake in shares of Martin Marietta Materials by 4.5% in the fourth quarter. OLD National Bancorp IN now owns 483 shares of the construction company's stock worth $249,000 after acquiring an additional 21 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

Remove Ads

Martin Marietta Materials Trading Up 3.4 %

Shares of MLM traded up $16.39 during mid-day trading on Friday, hitting $491.66. The company had a trading volume of 627,089 shares, compared to its average volume of 489,557. The business's 50-day simple moving average is $490.42 and its 200-day simple moving average is $533.75. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $633.23. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56. The stock has a market cap of $29.98 billion, a PE ratio of 15.21, a P/E/G ratio of 4.45 and a beta of 0.81.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its earnings results 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%. Sell-side analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MLM shares. Stephens dropped their price target on Martin Marietta Materials from $675.00 to $650.00 and set an "overweight" rating for the company in a research report on Thursday, February 13th. Wolfe Research upgraded shares of Martin Marietta Materials from a "peer perform" rating to an "outperform" rating and set a $563.00 price target for the company in a report on Wednesday, January 8th. UBS Group cut Martin Marietta Materials from a "buy" rating to a "neutral" rating and set a $491.00 price target for the company. in a report on Monday, April 7th. Seaport Res Ptn upgraded shares of Martin Marietta Materials to a "strong-buy" rating in a report on Friday, March 21st. Finally, Morgan Stanley lowered their target price 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Martin Marietta Materials currently has a consensus rating of "Moderate Buy" and a consensus target price of $609.43.

Insiders Place Their Bets

In other news, SVP Michael J. Petro acquired 550 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average price of $454.37 per share, for a total transaction of $249,903.50. Following the completion of the acquisition, the senior vice president now directly owns 8,985 shares in the company, valued at $4,082,514.45. This represents a 6.52 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 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 completion of the transaction, the executive vice president now owns 3,523 shares in the company, valued at approximately $1,673,425. This trade represents a 27.44 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is owned by insiders.

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.