HighTower Advisors LLC Sells 1,558 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

HighTower Advisors LLC lowered its stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 3.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,705 shares of the construction company's stock after selling 1,558 shares during the quarter. HighTower Advisors LLC owned 0.08% of Martin Marietta Materials worth $24,640,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC boosted its holdings in Martin Marietta Materials by 2.5% in the third 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 last quarter. Checchi Capital Advisers LLC boosted its stake in shares of Martin Marietta Materials by 1.4% during the 4th quarter. Checchi Capital Advisers LLC now owns 1,336 shares of the construction company's stock worth $690,000 after acquiring an additional 19 shares during the last quarter. iA Global Asset Management Inc. boosted its stake in shares of Martin Marietta Materials by 3.6% during the 3rd 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 last quarter. Brooklyn Investment Group boosted 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 acquiring an additional 20 shares during the last quarter. Finally, Financial Counselors Inc. boosted its stake in shares of Martin Marietta Materials by 1.9% during the 3rd quarter. Financial Counselors Inc. now owns 1,123 shares of the construction company's stock worth $604,000 after acquiring an additional 21 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company's stock.

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Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. BNP Paribas cut shares of Martin Marietta Materials from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Stifel Nicolaus assumed coverage on shares of Martin Marietta Materials in a research note on Tuesday, March 4th. They set a "buy" rating and a $559.00 price target on the stock. Raymond James dropped their price target on shares of Martin Marietta Materials from $630.00 to $600.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Stephens dropped their price target on shares of Martin Marietta Materials from $675.00 to $650.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. Finally, Loop Capital lowered their target price on shares of Martin Marietta Materials from $680.00 to $645.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $628.64.

Insider Transactions at Martin Marietta Materials

In other news, EVP Donald A. Mccunniff sold 1,332 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total value of $632,700.00. Following the sale, the executive vice president now directly owns 3,523 shares in the company, valued at $1,673,425. The trade was a 27.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Michael J. Petro bought 550 shares of Martin Marietta Materials 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 owns 8,985 shares in the company, valued at approximately $4,082,514.45. The trade was a 6.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.68% of the company's stock.

Martin Marietta Materials Price Performance

NYSE MLM traded up $2.73 on Wednesday, reaching $490.92. The company had a trading volume of 528,724 shares, compared to its average volume of 458,084. 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 capitalization of $29.93 billion, a PE ratio of 15.18, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. The firm's 50 day moving average price is $513.08 and its 200 day moving average price is $540.31. Martin Marietta Materials, Inc. has a 12 month low of $448.50 and a 12 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 (EPS) for the quarter, beating 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, equities analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be issued a $0.79 dividend. The ex-dividend date is Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.64%. Martin Marietta Materials's dividend payout ratio (DPR) is presently 9.77%.

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.