Mitsubishi UFJ Trust & Banking Corp Sells 13,753 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 7.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 175,184 shares of the construction company’s stock after selling 13,753 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.29% of Martin Marietta Materials worth $90,483,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Martin Marietta Materials by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 7,174,183 shares of the construction company’s stock worth $3,705,466,000 after acquiring an additional 36,531 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Martin Marietta Materials by 23.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock worth $1,441,663,000 after purchasing an additional 506,705 shares in the last quarter. FMR LLC raised its holdings in Martin Marietta Materials by 15.3% in the 3rd quarter. FMR LLC now owns 2,515,441 shares of the construction company’s stock worth $1,353,936,000 after purchasing an additional 334,605 shares during the period. Principal Financial Group Inc. lifted its position in Martin Marietta Materials by 11.7% during the fourth quarter. Principal Financial Group Inc. now owns 1,819,744 shares of the construction company’s stock valued at $939,898,000 after purchasing an additional 191,043 shares in the last quarter. Finally, Amundi grew its holdings in Martin Marietta Materials by 10.5% during the fourth quarter. Amundi now owns 1,562,146 shares of the construction company’s stock valued at $808,005,000 after purchasing an additional 148,065 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

NYSE MLM opened at $490.51 on Tuesday. The business’s 50 day moving average price is $510.82 and its 200-day moving average price is $539.41. Martin Marietta Materials, Inc. has a fifty-two week low of $448.50 and a fifty-two week high of $633.23. The company has a market cap of $29.91 billion, a P/E ratio of 15.17, a P/E/G ratio of 4.45 and a beta of 0.89. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50.

Martin Marietta Materials (NYSE:MLM) last released its earnings results 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 net margin of 30.54% and a return on equity of 12.11%. Sell-side analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current 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 dividend on an annualized basis and a dividend yield of 0.64%. Martin Marietta Materials’s dividend payout ratio is 9.77%.

Analysts Set New Price Targets

Several research firms have recently commented on MLM. Loop Capital decreased their price objective on Martin Marietta Materials from $680.00 to $645.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Truist Financial dropped their price target on shares of Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Citigroup lowered their target price on shares of Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. HSBC raised Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price target on the stock in a report on Wednesday, December 11th. Finally, Morgan Stanley dropped their price objective on Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $628.64.

Insider Transactions at Martin Marietta Materials

In other news, SVP Michael J. Petro bought 550 shares of the stock in a transaction on Tuesday, March 4th. The stock was bought at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the completion of the purchase, the senior vice president now directly owns 8,985 shares in the company, valued at approximately $4,082,514.45. The trade was a 6.52 % increase in their ownership of the stock. The acquisition 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 company’s stock in a transaction 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 transaction, the executive vice president now directly owns 3,523 shares in the company, valued at approximately $1,673,425. The trade was a 27.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.

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.