FIL Ltd Sells 3,344 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

FIL Ltd trimmed its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 4.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 76,189 shares of the construction company's stock after selling 3,344 shares during the period. FIL Ltd owned approximately 0.12% of Martin Marietta Materials worth $39,352,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in Martin Marietta Materials by 76.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company's stock worth $876,648,000 after buying an additional 704,460 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in Martin Marietta Materials by 2.5% in the third quarter. Integrated Wealth Concepts LLC now owns 782 shares of the construction company's stock valued at $421,000 after purchasing an additional 19 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Martin Marietta Materials by 9.8% during the 3rd quarter. Wellington Management Group LLP now owns 425 shares of the construction company's stock worth $229,000 after purchasing an additional 38 shares in the last quarter. EP Wealth Advisors LLC boosted its holdings in shares of Martin Marietta Materials by 18.3% in the 3rd quarter. EP Wealth Advisors LLC now owns 1,224 shares of the construction company's stock valued at $659,000 after buying an additional 189 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its stake in shares of Martin Marietta Materials by 5.6% in the third quarter. Nomura Asset Management Co. Ltd. now owns 18,266 shares of the construction company's stock valued at $9,832,000 after buying an additional 968 shares in the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

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Martin Marietta Materials Stock Down 0.9 %

Shares of NYSE:MLM traded down $4.66 during trading on Tuesday, reaching $498.27. 173,344 shares of the stock were exchanged, compared to its average volume of 488,491. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $633.23. The stock has a fifty day moving average of $489.70 and a two-hundred day moving average of $533.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. The firm has a market cap of $30.38 billion, a price-to-earnings ratio of 15.44, a price-to-earnings-growth ratio of 4.45 and a beta of 0.81.

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

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Monday, March 3rd. Martin Marietta Materials's dividend payout ratio (DPR) is presently 9.77%.

Wall Street Analyst Weigh In

MLM has been the subject of a number of research reports. Morgan Stanley cut their target price on shares of Martin Marietta Materials from $657.00 to $622.00 and set an "overweight" rating for the company in a research note on Tuesday, December 17th. Barclays decreased their price target on Martin Marietta Materials from $645.00 to $600.00 and set an "overweight" rating on the stock in a research report on Thursday, February 13th. Truist Financial dropped 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. Stephens lowered their price target on shares of Martin Marietta Materials from $675.00 to $650.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. Finally, Wolfe Research upgraded shares of Martin Marietta Materials from a "peer perform" rating to an "outperform" rating and set a $563.00 price objective for the company in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $609.43.

Insider Activity

In other news, EVP Donald A. Mccunniff sold 1,332 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total value of $632,700.00. Following the completion of the sale, the executive vice president now owns 3,523 shares in the company, valued at $1,673,425. This represents a 27.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Michael J. Petro purchased 550 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.68% of the company's stock.

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.