Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Angeles Investment Advisors LLC

Angeles Investment Advisors LLC lessened its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLMFree Report) by 3.6% during the fourth quarter, HoldingsChannel reports. The fund owned 1,407 shares of the construction company’s stock after selling 53 shares during the period. Angeles Investment Advisors LLC’s holdings in Martin Marietta Materials were worth $702,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vinva Investment Management Ltd lifted its position in shares of Martin Marietta Materials by 21.3% in the fourth quarter. Vinva Investment Management Ltd now owns 2,086 shares of the construction company’s stock valued at $1,039,000 after acquiring an additional 366 shares in the last quarter. Morningstar Investment Services LLC purchased a new position in Martin Marietta Materials during the fourth quarter worth about $297,000. Envestnet Asset Management Inc. lifted its position in Martin Marietta Materials by 8.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 171,571 shares of the construction company’s stock worth $85,598,000 after buying an additional 13,718 shares during the period. Stephens Inc. AR lifted its position in Martin Marietta Materials by 24.1% during the fourth quarter. Stephens Inc. AR now owns 38,678 shares of the construction company’s stock worth $19,297,000 after buying an additional 7,512 shares during the period. Finally, American International Group Inc. grew its holdings in Martin Marietta Materials by 2.1% in the fourth quarter. American International Group Inc. now owns 16,694 shares of the construction company’s stock valued at $8,329,000 after purchasing an additional 341 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Stephens increased their price objective on shares of Martin Marietta Materials from $575.00 to $605.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. Truist Financial upped their target price on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Citigroup upped their target price on shares of Martin Marietta Materials from $635.00 to $708.00 and gave the company a “buy” rating in a research note on Friday, April 5th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $600.00 target price (up from $530.00) on shares of Martin Marietta Materials in a report on Friday, March 22nd. Finally, Stifel Nicolaus increased their target price on shares of Martin Marietta Materials from $621.00 to $650.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $610.27.

View Our Latest Stock Report on Martin Marietta Materials

Insider Activity

In other Martin Marietta Materials news, EVP Roselyn R. Bar sold 10,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 59,970 shares of the company’s stock, valued at approximately $36,179,301.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.68% of the stock is currently owned by company insiders.

Martin Marietta Materials Stock Performance

MLM traded down $0.84 during trading on Friday, reaching $550.44. 430,490 shares of the company’s stock were exchanged, compared to its average volume of 414,538. Martin Marietta Materials, Inc. has a fifty-two week low of $389.90 and a fifty-two week high of $626.67. The company has a quick ratio of 2.41, a current ratio of 3.16 and a debt-to-equity ratio of 0.44. The business has a 50 day moving average price of $591.10 and a 200 day moving average price of $546.50. The company has a market capitalization of $33.93 billion, a P/E ratio of 16.33, a PEG ratio of 2.45 and a beta of 0.93.

Martin Marietta Materials (NYSE:MLMGet Free Report) last issued its earnings results on Tuesday, April 30th. The construction company reported $1.93 EPS 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 company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the company earned $2.16 EPS. The firm’s revenue for the quarter was down 7.6% compared to the same quarter last year. As a group, analysts predict that Martin Marietta Materials, Inc. will post 23.38 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 3rd will be paid a $0.74 dividend. The ex-dividend date is Monday, June 3rd. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.54%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 8.77%.

Martin Marietta Materials Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

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