Peapack Gladstone Financial Corp Sells 566 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Peapack Gladstone Financial Corp trimmed its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 1.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,783 shares of the construction company's stock after selling 566 shares during the period. Peapack Gladstone Financial Corp owned about 0.05% of Martin Marietta Materials worth $16,932,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lee Danner & Bass Inc. bought a new stake in shares of Martin Marietta Materials in the fourth quarter valued at about $28,000. Whipplewood Advisors LLC acquired a new stake in Martin Marietta Materials in the 4th quarter valued at approximately $32,000. Kestra Investment Management LLC bought a new stake in Martin Marietta Materials in the 4th quarter valued at approximately $35,000. Hopwood Financial Services Inc. acquired a new position in Martin Marietta Materials during the 4th quarter worth approximately $36,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Martin Marietta Materials by 91.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company's stock worth $37,000 after acquiring an additional 34 shares in the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MLM. Loop Capital cut their price objective on shares of Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. 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 report on Thursday, February 13th. Wolfe Research upgraded 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. Truist Financial lowered their target price on Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Finally, UBS Group cut Martin Marietta Materials from a "buy" rating to a "neutral" rating and set a $491.00 price target for the company. in a research report on Monday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Martin Marietta Materials currently has a consensus rating of "Moderate Buy" and an average price target of $609.43.

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Insider Buying and Selling

In other news, SVP Michael J. Petro acquired 550 shares of the stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $454.37 per share, for a total transaction of $249,903.50. Following the transaction, 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Donald A. Mccunniff sold 1,332 shares of the firm's stock in a transaction dated 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 approximately $1,673,425. This represents a 27.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by insiders.

Martin Marietta Materials Stock Performance

Shares of NYSE:MLM traded up $12.42 on Friday, hitting $487.69. The company had a trading volume of 205,978 shares, compared to its average volume of 486,144. The stock has a 50 day moving average price of $491.34 and a 200 day moving average price of $534.10. 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 stock has a market cap of $29.74 billion, a price-to-earnings ratio of 15.11, a P/E/G ratio of 4.45 and a beta of 0.81. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, beating analysts' consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. Analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were paid a dividend of $0.79 per share. The ex-dividend date was Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.65%. Martin Marietta Materials's dividend payout ratio (DPR) 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.