Martin Marietta Materials, Inc. (NYSE:MLM) Holdings Cut by Swiss National Bank

Swiss National Bank cut its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 193,170 shares of the construction company’s stock after selling 6,100 shares during the quarter. Swiss National Bank’s holdings in Martin Marietta Materials were worth $96,374,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Pinnacle Bancorp Inc. acquired a new position in Martin Marietta Materials during the 4th quarter valued at approximately $26,000. MV Capital Management Inc. grew its position in shares of Martin Marietta Materials by 144.4% during the third quarter. MV Capital Management Inc. now owns 66 shares of the construction company’s stock worth $27,000 after acquiring an additional 39 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Martin Marietta Materials in the 4th quarter worth about $27,000. Covestor Ltd lifted its position in Martin Marietta Materials by 84.6% in the 3rd quarter. Covestor Ltd now owns 72 shares of the construction company’s stock valued at $30,000 after purchasing an additional 33 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group boosted its stake in Martin Marietta Materials by 74.3% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 61 shares of the construction company’s stock valued at $30,000 after purchasing an additional 26 shares during the period. 95.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MLM has been the topic of several analyst reports. Wolfe Research lowered shares of Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research note on Friday, March 8th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $600.00 target price (up from $530.00) on shares of Martin Marietta Materials in a research report on Friday, March 22nd. Truist Financial lifted their target price 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. Stifel Nicolaus increased their price target on Martin Marietta Materials from $621.00 to $650.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Finally, StockNews.com upgraded shares of Martin Marietta Materials from a “hold” rating to a “buy” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $588.69.

Martin Marietta Materials Price Performance

Shares of NYSE MLM opened at $591.03 on Friday. Martin Marietta Materials, Inc. has a twelve month low of $384.61 and a twelve month high of $626.67. The company has a current ratio of 3.16, a quick ratio of 2.50 and a debt-to-equity ratio of 0.44. The firm has a 50-day moving average of $598.46 and a two-hundred day moving average of $522.18. The company has a market capitalization of $36.43 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 2.80 and a beta of 0.95.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Tuesday, April 30th. The construction company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $1.31 billion. During the same period in the previous year, the firm earned $2.16 EPS. The business’s revenue for the quarter was down 7.6% on a year-over-year basis. As a group, analysts expect that Martin Marietta Materials, Inc. will post 21.7 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders 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 dividend yield of 0.50%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 8.77%.

Insider Transactions at Martin Marietta Materials

In other news, CEO C Howard Nye sold 15,000 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 134,640 shares of the company’s stock, valued at $81,357,566.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Martin Marietta Materials news, CEO C Howard Nye sold 15,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 134,640 shares in the company, valued at $81,357,566.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Sue W. Cole sold 1,724 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $543.48, for a total transaction of $936,959.52. Following the sale, the director now owns 19,793 shares in the company, valued at approximately $10,757,099.64. The disclosure for this sale can be found here. Insiders sold a total of 26,724 shares of company stock valued at $16,033,760 in the last three months. 0.61% of the stock is currently 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.