Swiss National Bank Trims Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Swiss National Bank reduced its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 5.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 172,670 shares of the construction company's stock after selling 10,300 shares during the period. Swiss National Bank owned about 0.28% of Martin Marietta Materials worth $89,184,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Whipplewood Advisors LLC purchased a new stake in Martin Marietta Materials during the 4th quarter worth about $32,000. Kestra Investment Management LLC acquired a new stake in shares of Martin Marietta Materials during the 4th quarter worth about $35,000. Hopwood Financial Services Inc. purchased a new stake in Martin Marietta Materials during the fourth quarter worth approximately $36,000. EverSource Wealth Advisors LLC boosted its holdings in Martin Marietta Materials by 91.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company's stock valued at $37,000 after purchasing an additional 34 shares in the last quarter. Finally, Retirement Wealth Solutions LLC purchased a new position in Martin Marietta Materials in the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 95.04% of the company's stock.

Insiders Place Their Bets

In other news, EVP Donald A. Mccunniff sold 1,332 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president now owns 3,523 shares of the company's stock, valued at $1,673,425. The trade was a 27.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael J. Petro acquired 550 shares of Martin Marietta Materials stock in a transaction that occurred on Tuesday, March 4th. The shares were 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 owns 8,985 shares of the company's stock, valued at $4,082,514.45. The trade was a 6.52 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.68% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

MLM has been the subject of a number of research reports. Citigroup reduced their price target on shares of Martin Marietta Materials from $701.00 to $600.00 and set a "buy" rating for the company in a research report on Monday, January 6th. 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 report on Thursday, February 13th. Loop Capital dropped their price target on Martin Marietta Materials from $680.00 to $645.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Stifel Nicolaus started coverage on Martin Marietta Materials in a research note on Tuesday, March 4th. They issued a "buy" rating and a $559.00 price objective for the company. Finally, Stephens decreased their price objective on Martin Marietta Materials from $675.00 to $650.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Martin Marietta Materials has a consensus rating of "Moderate Buy" and an average target price of $628.64.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock traded up $2.73 on Wednesday, reaching $490.92. 528,898 shares of the stock were exchanged, compared to its average volume of 458,084. The firm has a market capitalization of $29.93 billion, a PE ratio of 15.18, a PEG ratio of 4.45 and a beta of 0.89. Martin Marietta Materials, Inc. has a 1-year low of $448.50 and a 1-year high of $633.23. The business has a fifty day moving average price of $513.08 and a two-hundred day moving average price of $540.31. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.79 per share. The ex-dividend date is Monday, March 3rd. This represents a $3.16 annualized dividend and a dividend yield of 0.64%. Martin Marietta Materials's payout ratio is currently 9.77%.

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.