Martin Marietta Materials, Inc. (NYSE:MLM) EVP Sells $632,700.00 in Stock

Martin Marietta Materials, Inc. (NYSE:MLM - Get Free Report) EVP Donald A. Mccunniff sold 1,332 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total value of $632,700.00. Following the completion of the transaction, the executive vice president now owns 3,523 shares of the company's stock, valued at approximately $1,673,425. This represents a 27.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Martin Marietta Materials Trading Down 3.1 %

NYSE:MLM traded down $14.89 during trading hours on Friday, reaching $461.02. The company's stock had a trading volume of 983,189 shares, compared to its average volume of 447,821. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50. The firm has a market capitalization of $28.11 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 4.45 and a beta of 0.89. The firm has a 50-day simple moving average of $518.87 and a 200-day simple moving average of $543.22. 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 released its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, topping 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%. Research analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

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Martin Marietta Materials Dividend Announcement

The company 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. This represents a $3.16 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Monday, March 3rd. Martin Marietta Materials's dividend payout ratio is 9.77%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Morgan Stanley lowered their target price on shares of Martin Marietta Materials from $657.00 to $622.00 and set an "overweight" rating on the stock in a research note on Tuesday, December 17th. Hsbc Global Res upgraded Martin Marietta Materials from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, December 11th. Truist Financial reduced their target price 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 raised Martin Marietta Materials from a "hold" rating to a "buy" rating and set a $690.00 price target on the stock in a report on Wednesday, December 11th. Finally, Citigroup cut their price objective 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $634.36.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Lee Danner & Bass Inc. bought a new stake in Martin Marietta Materials in the 4th quarter worth $28,000. Whipplewood Advisors LLC purchased a new stake in shares of Martin Marietta Materials during the fourth quarter worth about $32,000. First Personal Financial Services bought a new stake in shares of Martin Marietta Materials in the third quarter worth about $33,000. Kestra Investment Management LLC purchased a new position in Martin Marietta Materials during the 4th quarter valued at about $35,000. Finally, Hopwood Financial Services Inc. purchased a new position in Martin Marietta Materials during the 4th quarter valued at about $36,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

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.