Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Metis Global Partners LLC

Metis Global Partners LLC trimmed its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 2.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,521 shares of the construction company’s stock after selling 56 shares during the quarter. Metis Global Partners LLC’s holdings in Martin Marietta Materials were worth $1,258,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its stake in Martin Marietta Materials by 1.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 7,900 shares of the construction company’s stock worth $3,243,000 after acquiring an additional 97 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in Martin Marietta Materials by 9.9% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 6,834 shares of the construction company’s stock worth $2,805,000 after acquiring an additional 615 shares during the period. Stratos Wealth Partners LTD. purchased a new stake in Martin Marietta Materials in the 3rd quarter worth approximately $430,000. Mackenzie Financial Corp grew its stake in Martin Marietta Materials by 3.6% in the 3rd quarter. Mackenzie Financial Corp now owns 5,295 shares of the construction company’s stock worth $2,141,000 after acquiring an additional 182 shares during the period. Finally, IFM Investors Pty Ltd grew its stake in Martin Marietta Materials by 4.6% in the 3rd quarter. IFM Investors Pty Ltd now owns 12,418 shares of the construction company’s stock worth $5,097,000 after acquiring an additional 551 shares during the period. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $600.00 target price (up from $530.00) on shares of Martin Marietta Materials in a research note on Friday, March 22nd. Stifel Nicolaus lifted their price target on shares of Martin Marietta Materials from $621.00 to $650.00 and gave the company a “buy” rating in a report on Monday, April 15th. StockNews.com lowered shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Thursday. Truist Financial lifted their price target on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Finally, Wolfe Research lowered shares of Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a report on Friday, March 8th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Martin Marietta Materials has a consensus rating of “Moderate Buy” and an average target price of $598.17.

Insiders Place Their Bets

In other Martin Marietta Materials news, CEO C Howard Nye sold 15,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $604.26, for a total value of $9,063,900.00. Following the transaction, the chief executive officer now owns 134,640 shares in the company, valued at approximately $81,357,566.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Martin Marietta Materials news, EVP Roselyn R. Bar sold 10,000 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $603.29, for a total value of $6,032,900.00. Following the transaction, the executive vice president now owns 59,970 shares in the company, valued at approximately $36,179,301.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO C Howard Nye sold 15,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $604.26, for a total transaction of $9,063,900.00. Following the completion of the sale, the chief executive officer now directly owns 134,640 shares of the company’s stock, valued at approximately $81,357,566.40. The disclosure for this sale can be found here. Insiders have sold 26,724 shares of company stock worth $16,033,760 in the last quarter. 0.68% of the stock is owned by corporate insiders.

Martin Marietta Materials Stock Performance

NYSE:MLM opened at $596.64 on Thursday. The company has a current ratio of 3.16, a quick ratio of 2.41 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $36.78 billion, a price-to-earnings ratio of 17.68, a PEG ratio of 2.80 and a beta of 0.95. The firm’s fifty day simple moving average is $600.80 and its 200 day simple moving average is $526.10. Martin Marietta Materials, Inc. has a twelve month low of $389.90 and a twelve month high of $626.67.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.05. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the business posted $2.16 EPS. The business’s quarterly revenue was down 7.6% on a year-over-year basis. As a group, equities research analysts expect that Martin Marietta Materials, Inc. will post 21.7 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 4th were issued a $0.74 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $2.96 dividend on an annualized basis and a yield of 0.50%. Martin Marietta Materials’s dividend payout ratio is currently 8.77%.

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.