Fmr LLC Decreases Position in Martin Marietta Materials, Inc. (NYSE:MLM)

FMR LLC reduced its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 0.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,513,656 shares of the construction company's stock after selling 1,785 shares during the quarter. FMR LLC owned about 4.11% of Martin Marietta Materials worth $1,298,303,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MLM. Vanguard Group Inc. increased its position in Martin Marietta Materials by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 7,174,183 shares of the construction company's stock valued at $3,705,466,000 after acquiring an additional 36,531 shares during the last quarter. JPMorgan Chase & Co. boosted its position in 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 during the period. Principal Financial Group Inc. grew its stake in Martin Marietta Materials by 11.7% in the 4th quarter. Principal Financial Group Inc. now owns 1,819,744 shares of the construction company's stock worth $939,898,000 after acquiring an additional 191,043 shares in the last quarter. Amundi increased its position in shares of Martin Marietta Materials by 10.5% during the fourth quarter. Amundi now owns 1,562,146 shares of the construction company's stock worth $808,005,000 after acquiring an additional 148,065 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Martin Marietta Materials by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 1,472,411 shares of the construction company's stock worth $758,499,000 after acquiring an additional 32,082 shares during the period. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

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Martin Marietta Materials Price Performance

Shares of NYSE:MLM traded up $16.39 during midday trading on Friday, hitting $491.66. The company had a trading volume of 627,089 shares, compared to its average volume of 488,559. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. The business's 50-day simple moving average is $490.42 and its 200-day simple moving average is $533.79. The stock has a market cap of $29.98 billion, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 4.45 and a beta of 0.81. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share 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%. On average, research analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MLM. Truist Financial dropped their price objective on Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Stifel Nicolaus started coverage on Martin Marietta Materials in a research note on Tuesday, March 4th. They issued a "buy" rating and a $559.00 target price on the stock. Seaport Res Ptn upgraded shares of Martin Marietta Materials to a "strong-buy" rating in a research note on Friday, March 21st. Citigroup dropped their target price on Martin Marietta Materials from $701.00 to $600.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Finally, Stephens lowered their price objective on Martin Marietta Materials from $675.00 to $650.00 and set an "overweight" rating on the stock in a research report on Thursday, February 13th. One investment 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 stock. Based on data from MarketBeat, Martin Marietta Materials currently has a consensus rating of "Moderate Buy" and a consensus target price of $609.43.

Insider Activity

In other Martin Marietta Materials news, EVP Donald A. Mccunniff sold 1,332 shares of the company's stock in a transaction 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 $1,673,425. This represents a 27.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael J. Petro acquired 550 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased 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 directly owns 8,985 shares in the company, valued at approximately $4,082,514.45. This trade represents a 6.52 % increase in their position. The disclosure for this purchase can be found here. Corporate 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.