Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 0.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,675,766 shares of the construction company's stock after selling 2,659 shares during the quarter. JPMorgan Chase & Co. owned approximately 4.38% of Martin Marietta Materials worth $1,382,034,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Franklin Street Advisors Inc. NC lifted its stake in Martin Marietta Materials by 15.5% in the fourth quarter. Franklin Street Advisors Inc. NC now owns 25,242 shares of the construction company's stock worth $13,037,000 after acquiring an additional 3,384 shares during the period. Sanctuary Advisors LLC raised its holdings in shares of Martin Marietta Materials by 18.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 8,220 shares of the construction company's stock valued at $4,914,000 after purchasing an additional 1,286 shares in the last quarter. RMR Wealth Builders lifted its position in shares of Martin Marietta Materials by 431.3% in the 4th quarter. RMR Wealth Builders now owns 2,391 shares of the construction company's stock worth $1,235,000 after purchasing an additional 1,941 shares during the period. Benjamin Edwards Inc. boosted its stake in shares of Martin Marietta Materials by 2,448.1% during the third quarter. Benjamin Edwards Inc. now owns 1,376 shares of the construction company's stock valued at $741,000 after purchasing an additional 1,322 shares in the last quarter. Finally, InTrack Investment Management Inc increased its holdings in Martin Marietta Materials by 33.9% during the fourth quarter. InTrack Investment Management Inc now owns 3,446 shares of the construction company's stock valued at $1,784,000 after buying an additional 872 shares during the period. 95.04% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several analysts have issued reports on MLM shares. 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. Barclays cut their target price on Martin Marietta Materials from $645.00 to $600.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. HSBC raised shares of Martin Marietta Materials from a "hold" rating to a "buy" rating and set a $690.00 price target for the company in a research report on Wednesday, December 11th. BNP Paribas downgraded Martin Marietta Materials from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. cut Martin Marietta Materials from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $640.00 to $560.00 in a research note on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Martin Marietta Materials presently has a consensus rating of "Moderate Buy" and an average price target of $628.64.

Martin Marietta Materials Stock Performance

NYSE MLM traded down $1.91 on Monday, hitting $476.09. 269,450 shares of the company's stock traded hands, compared to its average volume of 478,535. The firm's 50-day moving average price is $507.03 and its two-hundred day moving average price is $538.78. The firm has a market capitalization of $29.03 billion, a PE ratio of 14.76, a P/E/G ratio of 4.45 and a beta of 0.89. 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 1-year low of $448.50 and a 1-year high of $633.23.

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%. As a group, analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Monday, March 3rd. Martin Marietta Materials's payout ratio is presently 9.77%.

Insiders Place Their Bets

In related news, EVP Donald A. Mccunniff sold 1,332 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total transaction of $632,700.00. Following the sale, the executive vice president now directly owns 3,523 shares of the company's stock, valued at approximately $1,673,425. This represents a 27.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Michael J. Petro acquired 550 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was purchased at an average cost of $454.37 per share, with a total value of $249,903.50. Following the acquisition, the senior vice president now directly owns 8,985 shares of the company's stock, valued at $4,082,514.45. This represents a 6.52 % increase in their position. The disclosure for this purchase can be found here. 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.