Frank Rimerman Advisors LLC Lowers Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Frank Rimerman Advisors LLC reduced its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 49.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,073 shares of the construction company's stock after selling 1,038 shares during the period. Frank Rimerman Advisors LLC's holdings in Martin Marietta Materials were worth $554,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Integrated Wealth Concepts LLC raised its holdings in Martin Marietta Materials by 2.5% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 782 shares of the construction company's stock valued at $421,000 after acquiring an additional 19 shares in the last quarter. Checchi Capital Advisers LLC raised its holdings in Martin Marietta Materials by 1.4% in the 4th quarter. Checchi Capital Advisers LLC now owns 1,336 shares of the construction company's stock valued at $690,000 after acquiring an additional 19 shares in the last quarter. iA Global Asset Management Inc. raised its holdings in Martin Marietta Materials by 3.6% in the 3rd quarter. iA Global Asset Management Inc. now owns 570 shares of the construction company's stock valued at $307,000 after acquiring an additional 20 shares in the last quarter. Brooklyn Investment Group raised its holdings in Martin Marietta Materials by 4.7% in the 4th quarter. Brooklyn Investment Group now owns 447 shares of the construction company's stock valued at $231,000 after acquiring an additional 20 shares in the last quarter. Finally, Financial Counselors Inc. raised its holdings in Martin Marietta Materials by 1.9% in the 3rd quarter. Financial Counselors Inc. now owns 1,123 shares of the construction company's stock valued at $604,000 after acquiring an additional 21 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 Performance

Shares of MLM stock traded down $6.36 during trading on Thursday, hitting $483.84. The company's stock had a trading volume of 464,732 shares, compared to its average volume of 458,464. The company has a market cap of $29.50 billion, a PE ratio of 14.97, 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. The business has a fifty day moving average of $512.56 and a 200-day moving average of $539.97. Martin Marietta Materials, Inc. has a 52 week low of $448.50 and a 52 week high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, beating 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%. As a group, research analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Monday, March 3rd. Martin Marietta Materials's dividend payout ratio (DPR) is 9.77%.

Insider Buying and Selling at Martin Marietta Materials

In other Martin Marietta Materials news, 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 completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael J. Petro purchased 550 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was bought 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 of the company's stock, valued at approximately $4,082,514.45. This trade represents a 6.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.68% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MLM. Stifel Nicolaus assumed coverage on Martin Marietta Materials in a report on Tuesday, March 4th. They set a "buy" rating and a $559.00 price target for the company. Citigroup reduced their price objective 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. JPMorgan Chase & Co. lowered Martin Marietta Materials from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $640.00 to $560.00 in a research report on Wednesday. Wolfe Research upgraded Martin Marietta Materials from a "peer perform" rating to an "outperform" rating and set a $563.00 price objective on the stock in a research report on Wednesday, January 8th. Finally, Barclays reduced 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. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.