Vanguard Group Inc. Has $3.71 Billion Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Vanguard Group Inc. increased its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,174,183 shares of the construction company's stock after purchasing an additional 36,531 shares during the quarter. Vanguard Group Inc. owned approximately 11.74% of Martin Marietta Materials worth $3,705,466,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of MLM. Principal Financial Group Inc. lifted its stake in shares of Martin Marietta Materials by 76.2% during the third quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company's stock worth $876,648,000 after purchasing an additional 704,460 shares in the last quarter. Intech Investment Management LLC grew its position in Martin Marietta Materials by 9.6% in the third quarter. Intech Investment Management LLC now owns 4,120 shares of the construction company's stock valued at $2,218,000 after acquiring an additional 361 shares in the last quarter. Raymond James Trust N.A. raised its stake in shares of Martin Marietta Materials by 5.6% during the third quarter. Raymond James Trust N.A. now owns 1,724 shares of the construction company's stock valued at $928,000 after purchasing an additional 91 shares during the period. Cerity Partners LLC lifted its position in shares of Martin Marietta Materials by 28.9% during the third quarter. Cerity Partners LLC now owns 26,302 shares of the construction company's stock worth $14,157,000 after purchasing an additional 5,899 shares in the last quarter. Finally, Swedbank AB boosted its stake in shares of Martin Marietta Materials by 326.4% in the third quarter. Swedbank AB now owns 3,492 shares of the construction company's stock valued at $1,880,000 after purchasing an additional 2,673 shares during the period. Institutional investors and hedge funds own 95.04% of the company's stock.

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Insider Activity

In related news, EVP Donald A. Mccunniff sold 1,332 shares of the business'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 sale, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Michael J. Petro acquired 550 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the transaction, the senior vice president now 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 corporate insiders.

Martin Marietta Materials Stock Performance

MLM traded down $2.38 on Tuesday, hitting $488.31. 361,074 shares of the company's stock were exchanged, compared to its average volume of 461,378. Martin Marietta Materials, Inc. has a twelve month low of $448.50 and a twelve month high of $633.23. The firm has a market cap of $29.77 billion, a PE ratio of 15.10, a P/E/G ratio of 4.45 and a beta of 0.89. 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 fifty day moving average of $510.82 and a two-hundred day moving average of $539.41.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings data 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 return on equity of 12.11% and a net margin of 30.54%. On average, research 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 company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Monday, March 3rd. Martin Marietta Materials's payout ratio is 9.77%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. lowered shares of Martin Marietta Materials from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $640.00 to $560.00 in a report on Wednesday, March 19th. Barclays dropped their target price on Martin Marietta Materials from $645.00 to $600.00 and set an "overweight" rating on the stock in a research report on Thursday, February 13th. Stifel Nicolaus began coverage on Martin Marietta Materials in a report on Tuesday, March 4th. They issued a "buy" rating and a $559.00 price target for the company. Stephens dropped their price objective on Martin Marietta Materials from $675.00 to $650.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. Finally, Hsbc Global Res upgraded Martin Marietta Materials from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, December 11th. One equities 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 given a strong buy rating to the company's stock. Based on data from MarketBeat, the company 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.