Marietta Investment Partners LLC Cuts Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Marietta Investment Partners LLC decreased its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 14.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,709 shares of the construction company's stock after selling 1,655 shares during the period. Martin Marietta Materials accounts for approximately 1.1% of Marietta Investment Partners LLC's investment portfolio, making the stock its 28th largest position. Marietta Investment Partners LLC's holdings in Martin Marietta Materials were worth $5,015,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vestor Capital LLC purchased a new position in Martin Marietta Materials in the fourth quarter worth approximately $4,509,000. Mizuho Securities USA LLC grew its holdings in shares of Martin Marietta Materials by 46.2% during the 4th quarter. Mizuho Securities USA LLC now owns 5,793 shares of the construction company's stock worth $2,992,000 after purchasing an additional 1,830 shares during the period. Quantbot Technologies LP increased its position in shares of Martin Marietta Materials by 147.9% during the 4th quarter. Quantbot Technologies LP now owns 2,816 shares of the construction company's stock worth $1,454,000 after purchasing an additional 1,680 shares during the last quarter. Virtu Financial LLC raised its holdings in Martin Marietta Materials by 13.1% in the 4th quarter. Virtu Financial LLC now owns 6,252 shares of the construction company's stock valued at $3,229,000 after buying an additional 725 shares during the period. Finally, Adams Natural Resources Fund Inc. lifted its position in Martin Marietta Materials by 10.2% in the fourth quarter. Adams Natural Resources Fund Inc. now owns 5,400 shares of the construction company's stock valued at $2,789,000 after buying an additional 500 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.

Remove Ads

Martin Marietta Materials Stock Performance

MLM traded down $3.80 during trading on Tuesday, hitting $486.89. 117,918 shares of the stock were exchanged, compared to its average volume of 560,102. The company has a quick ratio of 1.40, a current ratio of 2.50 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. The stock has a fifty day moving average price of $510.82 and a two-hundred day moving average price of $539.41. The firm has a market capitalization of $29.69 billion, a P/E ratio of 15.06, a PEG ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released 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, sell-side analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Monday, March 3rd. Martin Marietta Materials's dividend payout ratio is currently 9.77%.

Insider Activity at Martin Marietta Materials

In related news, SVP Michael J. Petro purchased 550 shares of the firm's stock in a transaction that occurred 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 completion of the acquisition, the senior vice president now directly owns 8,985 shares in the company, valued at $4,082,514.45. This trade represents a 6.52 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Donald A. Mccunniff sold 1,332 shares of the business's 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 completion of 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 disclosure for this sale can be found here. 0.68% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MLM shares. Stifel Nicolaus initiated coverage on shares of Martin Marietta Materials in a research note on Tuesday, March 4th. They issued a "buy" rating and a $559.00 price target on the stock. Morgan Stanley cut their price objective on Martin Marietta Materials from $657.00 to $622.00 and set an "overweight" rating on the stock in a report on Tuesday, December 17th. Citigroup lowered their target price on Martin Marietta Materials from $701.00 to $600.00 and set a "buy" rating for the company in a report on Monday, January 6th. Truist Financial cut their price target on shares of 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. Finally, HSBC upgraded shares of Martin Marietta Materials from a "hold" rating to a "buy" rating and set a $690.00 price objective for the company in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Martin Marietta Materials currently has an average rating of "Moderate Buy" and an average price target of $628.64.

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.