Martin Marietta Materials (NYSE:MLM) Reaches New 12-Month Low After Insider Selling

Martin Marietta Materials, Inc. (NYSE:MLM - Get Free Report) reached a new 52-week low during trading on Friday following insider selling activity. The company traded as low as $448.50 and last traded at $452.98, with a volume of 333928 shares. The stock had previously closed at $475.91.

Specifically, EVP Donald A. Mccunniff sold 1,332 shares of the company'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 value of $632,700.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MLM. BNP Paribas downgraded Martin Marietta Materials from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Hsbc Global Res upgraded Martin Marietta Materials from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, December 11th. Truist Financial dropped their price target on Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Wolfe Research upgraded Martin Marietta Materials from a "peer perform" rating to an "outperform" rating and set a $563.00 target price for the company in a research report on Wednesday, January 8th. Finally, Morgan Stanley lowered their target price 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $634.36.

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Martin Marietta Materials Stock Down 3.1 %

The company has a fifty day moving average of $518.87 and a two-hundred day moving average of $543.22. The company has a market cap of $28.11 billion, a PE ratio of 14.26, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share 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, 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 firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be paid a $0.79 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a yield of 0.69%. Martin Marietta Materials's payout ratio is 9.77%.

Institutional Trading of Martin Marietta Materials

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC increased 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 worth $421,000 after purchasing an additional 19 shares during the period. Checchi Capital Advisers LLC increased its stake in Martin Marietta Materials by 1.4% in the fourth quarter. Checchi Capital Advisers LLC now owns 1,336 shares of the construction company's stock worth $690,000 after purchasing an additional 19 shares during the period. OneDigital Investment Advisors LLC increased its stake in Martin Marietta Materials by 1.9% in the fourth quarter. OneDigital Investment Advisors LLC now owns 1,020 shares of the construction company's stock worth $527,000 after purchasing an additional 19 shares during the period. iA Global Asset Management Inc. increased its stake in Martin Marietta Materials by 3.6% in the third quarter. iA Global Asset Management Inc. now owns 570 shares of the construction company's stock worth $307,000 after purchasing an additional 20 shares during the period. Finally, Brooklyn Investment Group increased its stake in Martin Marietta Materials by 4.7% in the fourth quarter. Brooklyn Investment Group now owns 447 shares of the construction company's stock worth $231,000 after purchasing an additional 20 shares during the period. Hedge funds and other institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Company 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.