Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Southeast Asset Advisors LLC

Southeast Asset Advisors LLC trimmed its holdings in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 15.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,205 shares of the construction company's stock after selling 1,737 shares during the quarter. Martin Marietta Materials makes up about 0.6% of Southeast Asset Advisors LLC's portfolio, making the stock its 25th biggest position. Southeast Asset Advisors LLC's holdings in Martin Marietta Materials were worth $4,754,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Principal Financial Group Inc. lifted its holdings in shares of Martin Marietta Materials by 76.2% in 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 during the period. Benjamin Edwards Inc. lifted its stake in Martin Marietta Materials by 2,448.1% in the third quarter. Benjamin Edwards Inc. now owns 1,376 shares of the construction company's stock worth $741,000 after acquiring an additional 1,322 shares during the period. Integrated Wealth Concepts LLC grew its holdings in Martin Marietta Materials by 2.5% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 782 shares of the construction company's stock worth $421,000 after acquiring an additional 19 shares in the last quarter. IHT Wealth Management LLC increased its position in Martin Marietta Materials by 13.9% during the 3rd quarter. IHT Wealth Management LLC now owns 468 shares of the construction company's stock valued at $252,000 after purchasing an additional 57 shares during the period. Finally, Quarry LP bought a new stake in Martin Marietta Materials during the 3rd quarter valued at $87,000. 95.04% of the stock is currently owned by institutional investors.

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Martin Marietta Materials Price Performance

Martin Marietta Materials stock traded up $16.39 during midday trading on Friday, reaching $491.66. The company had a trading volume of 627,089 shares, compared to its average volume of 488,559. Martin Marietta Materials, Inc. has a 12-month low of $441.95 and a 12-month high of $633.23. The firm's fifty day simple moving average is $490.42 and its 200-day simple moving average is $533.79. 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 company has a market capitalization of $29.98 billion, a P/E ratio of 15.21, a P/E/G ratio of 4.45 and a beta of 0.81.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings data 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 net margin of 30.54% and a return on equity of 12.11%. As a group, equities analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend was Monday, March 3rd. Martin Marietta Materials's payout ratio is presently 9.77%.

Analysts Set New Price Targets

A number of equities research analysts have commented on MLM shares. StockNews.com cut Martin Marietta Materials from a "hold" rating to a "sell" rating in a research note on Thursday, February 20th. Raymond James cut their price target on shares of Martin Marietta Materials from $630.00 to $600.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. JPMorgan Chase & Co. lowered shares of Martin Marietta Materials from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $640.00 to $560.00 in a report on Wednesday, March 19th. Barclays reduced their target price on Martin Marietta Materials from $645.00 to $600.00 and set an "overweight" rating for the company in a research note on Thursday, February 13th. Finally, Wolfe Research raised Martin Marietta Materials from a "peer perform" rating to an "outperform" rating and set a $563.00 price objective on the stock in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $609.43.

Insider Activity at Martin Marietta Materials

In other Martin Marietta Materials news, EVP Donald A. Mccunniff sold 1,332 shares of the company's 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 $1,673,425. This represents a 27.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael J. Petro acquired 550 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average cost of $454.37 per share, with a total value of $249,903.50. Following the completion of the purchase, the senior vice president now directly owns 8,985 shares of the company's stock, valued at approximately $4,082,514.45. This represents a 6.52 % increase in their position. The disclosure for this purchase can be found here. 0.68% of the stock is currently owned by insiders.

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.