Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by SVB Wealth LLC

SVB Wealth LLC reduced its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 26.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 13,033 shares of the construction company’s stock after selling 4,649 shares during the quarter. SVB Wealth LLC’s holdings in Martin Marietta Materials were worth $6,502,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Amalgamated Bank boosted its stake in shares of Martin Marietta Materials by 2.5% in the 3rd quarter. Amalgamated Bank now owns 16,460 shares of the construction company’s stock valued at $6,757,000 after buying an additional 397 shares during the period. Hudson Bay Capital Management LP purchased a new stake in Martin Marietta Materials in the third quarter valued at approximately $3,284,000. Cultivar Capital Inc. purchased a new stake in Martin Marietta Materials in the fourth quarter valued at approximately $2,260,000. Nordea Investment Management AB lifted its stake in Martin Marietta Materials by 2.8% in the third quarter. Nordea Investment Management AB now owns 4,050 shares of the construction company’s stock valued at $1,681,000 after buying an additional 111 shares during the last quarter. Finally, Fenimore Asset Management Inc. purchased a new stake in Martin Marietta Materials in the fourth quarter valued at approximately $23,468,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Down 0.8 %

Shares of MLM stock opened at $594.59 on Wednesday. The business’s fifty day moving average price is $582.21 and its 200 day moving average price is $506.31. Martin Marietta Materials, Inc. has a 1-year low of $343.79 and a 1-year high of $626.67. The firm has a market capitalization of $36.76 billion, a PE ratio of 31.58, a P/E/G ratio of 2.93 and a beta of 0.96. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.35 and a quick ratio of 2.50.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, February 14th. The construction company reported $4.63 earnings per share for the quarter, topping analysts’ consensus estimates of $3.96 by $0.67. Martin Marietta Materials had a return on equity of 15.77% and a net margin of 17.25%. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same quarter in the prior year, the company posted $3.04 earnings per share. Martin Marietta Materials’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, sell-side analysts forecast that Martin Marietta Materials, Inc. will post 21.09 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 4th were given a dividend of $0.74 per share. 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 payout ratio is 15.72%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MLM shares. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $600.00 price objective (up previously from $530.00) on shares of Martin Marietta Materials in a research note on Friday, March 22nd. Truist Financial boosted their price objective on Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Raymond James boosted their target price on Martin Marietta Materials from $505.00 to $555.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Citigroup boosted their target price on Martin Marietta Materials from $635.00 to $708.00 and gave the company a “buy” rating in a report on Friday, April 5th. Finally, StockNews.com lowered Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Martin Marietta Materials has an average rating of “Moderate Buy” and an average target price of $588.69.

Insiders Place Their Bets

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 stock was sold at an average price of $603.29, for a total transaction of $6,032,900.00. Following the sale, the executive vice president now directly owns 59,970 shares in the company, valued at $36,179,301.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO C Howard Nye sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $604.26, for a total value of $9,063,900.00. Following the sale, the chief executive officer now owns 134,640 shares of the company’s stock, valued at approximately $81,357,566.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Roselyn R. Bar sold 10,000 shares of Martin Marietta Materials 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 $36,179,301.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,724 shares of company stock worth $16,033,760. 0.59% of the stock is owned by corporate insiders.

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.