Intact Investment Management Inc. Has $620,000 Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Intact Investment Management Inc. lowered its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 86.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,200 shares of the construction company's stock after selling 7,700 shares during the period. Intact Investment Management Inc.'s holdings in Martin Marietta Materials were worth $620,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC boosted its position in shares of Martin Marietta Materials by 54,277.3% in the fourth quarter. Proficio Capital Partners LLC now owns 918,432 shares of the construction company's stock valued at $474,370,000 after acquiring an additional 916,743 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Martin Marietta Materials by 76.2% during the third quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company's stock valued at $876,648,000 after acquiring an additional 704,460 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Martin Marietta Materials by 23.3% during the third quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company's stock valued at $1,441,663,000 after acquiring an additional 506,705 shares during the period. Raymond James Financial Inc. bought a new position in shares of Martin Marietta Materials during the fourth quarter valued at $196,374,000. Finally, FMR LLC increased its stake in shares of Martin Marietta Materials by 15.3% in the third quarter. FMR LLC now owns 2,515,441 shares of the construction company's stock valued at $1,353,936,000 after buying an additional 334,605 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.

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Analyst Upgrades and Downgrades

MLM has been the subject of a number of research reports. StockNews.com lowered Martin Marietta Materials from a "hold" rating to a "sell" rating in a research report on Thursday, February 20th. Barclays lowered their price objective on 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. Truist Financial lowered their price objective on Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. HSBC upgraded Martin Marietta Materials from a "hold" rating to a "buy" rating and set a $690.00 price objective for the company in a research report on Wednesday, December 11th. Finally, 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 report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $628.64.

Insider Buying and Selling at Martin Marietta Materials

In other Martin Marietta Materials news, EVP Donald A. Mccunniff sold 1,332 shares of the business's 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 owns 3,523 shares of the company's stock, valued at $1,673,425. The trade was a 27.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael J. Petro purchased 550 shares of the stock in a transaction on Tuesday, March 4th. The shares were bought at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the transaction, the senior vice president now directly 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. Company insiders own 0.68% of the company's stock.

Martin Marietta Materials Stock Down 1.3 %

Shares of NYSE:MLM traded down $6.36 during trading on Thursday, hitting $483.84. 464,736 shares of the company's stock traded hands, compared to its average volume of 458,464. The company has a market cap of $29.50 billion, a price-to-earnings ratio of 14.97, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. The company has a 50-day moving average price of $512.56 and a 200-day moving average price of $539.97. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a 52 week low of $448.50 and a 52 week high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its 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 return on equity of 12.11% and a net margin of 30.54%. As a group, research analysts forecast 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 will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Monday, March 3rd. Martin Marietta Materials's payout ratio is 9.77%.

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.