Prudential Financial Inc. Decreases Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Prudential Financial Inc. decreased its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 14.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 32,664 shares of the construction company's stock after selling 5,392 shares during the period. Prudential Financial Inc. owned 0.05% of Martin Marietta Materials worth $16,871,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Lee Danner & Bass Inc. bought a new position in shares of Martin Marietta Materials in the fourth quarter valued at approximately $28,000. Whipplewood Advisors LLC purchased a new stake in Martin Marietta Materials in the 4th quarter worth approximately $32,000. Kestra Investment Management LLC purchased a new stake in Martin Marietta Materials in the 4th quarter worth approximately $35,000. Hopwood Financial Services Inc. bought a new position in Martin Marietta Materials in the 4th quarter valued at $36,000. Finally, EverSource Wealth Advisors LLC grew its position 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 valued at $37,000 after purchasing an additional 34 shares in the last quarter. Institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock traded down $0.62 during midday trading on Monday, hitting $477.38. The company had a trading volume of 244,697 shares, compared to its average volume of 478,471. The stock has a market cap of $29.11 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 4.45 and a beta of 0.89. Martin Marietta Materials, Inc. has a 12-month low of $448.50 and a 12-month high of $633.23. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56. The company has a fifty day simple moving average of $507.03 and a 200 day simple moving average of $538.78.

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Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, topping 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 predict 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 dividend of $0.79 per share. The ex-dividend date is Monday, March 3rd. This represents a $3.16 annualized dividend and a yield of 0.66%. Martin Marietta Materials's dividend payout ratio (DPR) is 9.77%.

Insider Buying and Selling at Martin Marietta Materials

In other news, SVP Michael J. Petro bought 550 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were bought at an average price of $454.37 per share, with a total value of $249,903.50. Following the completion of the transaction, the senior vice president now directly owns 8,985 shares in the company, valued at $4,082,514.45. This trade represents a 6.52 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $632,700.00. Following the transaction, the executive vice president now owns 3,523 shares in the company, valued at $1,673,425. This trade represents a 27.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.68% of the company's stock.

Analysts Set New Price Targets

MLM has been the topic of a number of recent analyst reports. 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. Truist Financial lowered their price target on Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Seaport Res Ptn upgraded shares of Martin Marietta Materials to a "strong-buy" rating in a research report on Friday, March 21st. HSBC raised shares of Martin Marietta Materials from a "hold" rating to a "buy" rating and set a $690.00 target price on the stock in a research note on Wednesday, December 11th. Finally, JPMorgan Chase & Co. cut shares of Martin Marietta Materials from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $640.00 to $560.00 in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $628.64.

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.