Martin Marietta Materials, Inc. (NYSE:MLM) Stake Lowered by Washington Trust Bank

Washington Trust Bank decreased its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 4.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,605 shares of the construction company's stock after selling 526 shares during the period. Washington Trust Bank's holdings in Martin Marietta Materials were worth $5,994,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of MLM. TD Private Client Wealth LLC grew its position in Martin Marietta Materials by 4.4% during the fourth quarter. TD Private Client Wealth LLC now owns 850 shares of the construction company's stock worth $439,000 after buying an additional 36 shares during the period. Lee Danner & Bass Inc. acquired a new position in Martin Marietta Materials during the fourth quarter worth $28,000. Whittier Trust Co. of Nevada Inc. boosted its position in Martin Marietta Materials by 1.4% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 6,177 shares of the construction company's stock worth $3,190,000 after purchasing an additional 88 shares in the last quarter. Douglass Winthrop Advisors LLC grew its holdings in Martin Marietta Materials by 2.2% in the fourth quarter. Douglass Winthrop Advisors LLC now owns 197,762 shares of the construction company's stock valued at $102,144,000 after purchasing an additional 4,174 shares during the last quarter. Finally, HUB Investment Partners LLC purchased a new position in shares of Martin Marietta Materials in the fourth quarter valued at $415,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Seaport Res Ptn raised shares of Martin Marietta Materials to a "strong-buy" rating in a research note on Friday. Hsbc Global Res upgraded shares of Martin Marietta Materials from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, December 11th. StockNews.com downgraded Martin Marietta Materials from a "hold" rating to a "sell" rating in a research report on Thursday, February 20th. BNP Paribas downgraded shares of Martin Marietta Materials from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Finally, Raymond James decreased their price target on Martin Marietta Materials from $630.00 to $600.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Martin Marietta Materials presently has a consensus rating of "Moderate Buy" and an average price target of $628.64.

Martin Marietta Materials Stock Down 0.5 %

Shares of NYSE MLM traded down $2.38 on Tuesday, hitting $488.31. The company had a trading volume of 361,074 shares, compared to its average volume of 460,956. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a 12-month low of $448.50 and a 12-month high of $633.23. The firm has a market capitalization of $29.77 billion, a P/E ratio of 15.10, a PEG ratio of 4.45 and a beta of 0.89. The business has a 50 day moving average of $510.24 and a two-hundred day moving average of $539.31.

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, beating 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%. As a group, equities research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 dividend yield of 0.65%. Martin Marietta Materials's dividend payout ratio is presently 9.77%.

Insider Activity

In other Martin Marietta Materials news, SVP Michael J. Petro acquired 550 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were bought at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the acquisition, the senior vice president now directly owns 8,985 shares of the company's stock, 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 can be accessed through this link. Also, EVP Donald A. Mccunniff sold 1,332 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were 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 of the company's stock, valued at approximately $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. Insiders own 0.68% 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.