Martin Marietta Materials, Inc. (NYSE:MLM) Stake Cut by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans decreased its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 10.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,519 shares of the construction company's stock after selling 3,076 shares during the quarter. Thrivent Financial for Lutherans' holdings in Martin Marietta Materials were worth $14,214,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. RD Lewis Holdings Inc. acquired a new stake in shares of Martin Marietta Materials during the 4th quarter worth approximately $1,799,000. William Blair Investment Management LLC increased its position in Martin Marietta Materials by 5.5% in the fourth quarter. William Blair Investment Management LLC now owns 438,202 shares of the construction company's stock worth $226,331,000 after buying an additional 22,727 shares during the period. Signaturefd LLC increased its position in Martin Marietta Materials by 2.6% in the fourth quarter. Signaturefd LLC now owns 835 shares of the construction company's stock worth $431,000 after buying an additional 21 shares during the period. Parallel Advisors LLC lifted its stake in Martin Marietta Materials by 5.0% in the fourth quarter. Parallel Advisors LLC now owns 1,279 shares of the construction company's stock valued at $661,000 after buying an additional 61 shares during the last quarter. Finally, Cibc World Markets Corp boosted its holdings in shares of Martin Marietta Materials by 297.9% during the fourth quarter. Cibc World Markets Corp now owns 33,122 shares of the construction company's stock valued at $17,108,000 after acquiring an additional 24,798 shares during the period. Institutional investors own 95.04% of the company's stock.

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Martin Marietta Materials Price Performance

Shares of MLM traded down $2.38 during mid-day trading on Tuesday, hitting $488.31. The company's stock had a trading volume of 361,074 shares, compared to its average volume of 461,378. Martin Marietta Materials, Inc. has a fifty-two week low of $448.50 and a fifty-two week high of $633.23. The stock has a market capitalization of $29.77 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 4.45 and a beta of 0.89. The firm has a 50-day moving average price of $510.24 and a 200 day moving average price of $539.31. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, topping 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%. On average, research analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Monday, March 3rd. Martin Marietta Materials's dividend payout ratio (DPR) is presently 9.77%.

Insider Activity

In other news, SVP Michael J. Petro acquired 550 shares of Martin Marietta Materials stock in a transaction on Tuesday, March 4th. The stock was bought 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 owns 8,985 shares of the company's stock, valued at $4,082,514.45. This represents a 6.52 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 completion of the transaction, the executive vice president now owns 3,523 shares of the company's stock, valued at approximately $1,673,425. The trade was 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 company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on MLM shares. Raymond James dropped their price objective on shares of Martin Marietta Materials from $630.00 to $600.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. Stifel Nicolaus initiated coverage on shares of Martin Marietta Materials in a research note on Tuesday, March 4th. They issued a "buy" rating and a $559.00 price target on the stock. Loop Capital reduced their price objective on Martin Marietta Materials from $680.00 to $645.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Wolfe Research raised 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. Finally, 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. One research 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's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $628.64.

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.