Envestnet Asset Management Inc. Sells 19,979 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Envestnet Asset Management Inc. trimmed its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 9.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 186,941 shares of the construction company's stock after selling 19,979 shares during the quarter. Envestnet Asset Management Inc. owned about 0.31% of Martin Marietta Materials worth $96,555,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lee Danner & Bass Inc. bought a new stake in shares of Martin Marietta Materials during the 4th quarter valued at $28,000. Whipplewood Advisors LLC acquired a new position in Martin Marietta Materials in the fourth quarter valued at about $32,000. Kestra Investment Management LLC bought a new stake in Martin Marietta Materials during the fourth quarter worth about $35,000. Hopwood Financial Services Inc. acquired a new stake in Martin Marietta Materials during the fourth quarter worth about $36,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Martin Marietta Materials by 91.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company's stock valued at $37,000 after buying an additional 34 shares during the period. Institutional investors and hedge funds own 95.04% of the company's stock.

Insiders Place Their Bets

In related news, SVP Michael J. Petro bought 550 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average price 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 of the company's stock, valued at approximately $4,082,514.45. The trade was a 6.52 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Donald A. Mccunniff sold 1,332 shares of the stock in a transaction 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 directly owns 3,523 shares in the company, valued at approximately $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 corporate insiders.

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Martin Marietta Materials Trading Up 1.6 %

Shares of Martin Marietta Materials stock traded up $8.00 during midday trading on Monday, reaching $499.69. The company had a trading volume of 75,186 shares, compared to its average volume of 558,312. The stock has a fifty day moving average price of $490.42 and a 200 day moving average price of $533.75. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $633.23. The firm has a market cap of $30.47 billion, a PE ratio of 15.46, a P/E/G ratio of 4.45 and a beta of 0.81. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, topping 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%. On average, equities analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were given a dividend of $0.79 per share. The ex-dividend date was Monday, March 3rd. This represents a $3.16 annualized dividend and a dividend yield of 0.63%. Martin Marietta Materials's payout ratio is 9.77%.

Wall Street Analyst Weigh In

MLM has been the topic of several analyst reports. UBS Group lowered shares of Martin Marietta Materials from a "buy" rating to a "neutral" rating and set a $491.00 price target on the stock. in a research report on Monday, April 7th. Loop Capital decreased their price target on Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. Morgan Stanley dropped their price objective on Martin Marietta Materials from $657.00 to $622.00 and set an "overweight" rating for the company in a research report on Tuesday, December 17th. Seaport Res Ptn upgraded Martin Marietta Materials to a "strong-buy" rating in a research report on Friday, March 21st. Finally, Citigroup dropped their target price on shares of 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 analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Martin Marietta Materials currently has a consensus rating of "Moderate Buy" and an average price target of $609.43.

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.