Martin Marietta Materials, Inc. (NYSE:MLM) Stock Position Reduced by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. lessened its position in shares of Martin Marietta Materials, Inc. (NYSE:MLMFree Report) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,933 shares of the construction company’s stock after selling 36 shares during the period. Pinnacle Associates Ltd.’s holdings in Martin Marietta Materials were worth $1,962,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of MLM. Fairfield Bush & CO. bought a new position in Martin Marietta Materials during the 1st quarter worth approximately $46,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Martin Marietta Materials by 4.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 391,276 shares of the construction company’s stock worth $150,599,000 after buying an additional 15,163 shares during the last quarter. Yousif Capital Management LLC lifted its holdings in Martin Marietta Materials by 0.4% during the 1st quarter. Yousif Capital Management LLC now owns 9,391 shares of the construction company’s stock worth $3,615,000 after buying an additional 40 shares during the last quarter. Prudential PLC bought a new position in Martin Marietta Materials during the 1st quarter worth approximately $456,000. Finally, Cetera Investment Advisers lifted its holdings in Martin Marietta Materials by 12.8% during the 1st quarter. Cetera Investment Advisers now owns 950 shares of the construction company’s stock worth $366,000 after buying an additional 108 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,724 shares of company stock valued at $16,033,760. Corporate insiders own 0.59% of the company’s stock.

Martin Marietta Materials Stock Down 1.6 %

Shares of Martin Marietta Materials stock opened at $604.42 on Tuesday. The business’s fifty day moving average price is $562.23 and its two-hundred day moving average price is $492.71. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.35 and a quick ratio of 2.50. The company has a market capitalization of $37.37 billion, a P/E ratio of 32.10, a PEG ratio of 3.00 and a beta of 0.96. Martin Marietta Materials, Inc. has a 1-year low of $332.13 and a 1-year high of $617.08.

Martin Marietta Materials (NYSE:MLMGet Free Report) last posted its quarterly earnings data on Wednesday, February 14th. The construction company reported $4.63 EPS 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 company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the previous year, the business earned $3.04 EPS. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. As a group, research analysts forecast that Martin Marietta Materials, Inc. will post 21.09 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 4th were paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Friday, March 1st. Martin Marietta Materials’s dividend payout ratio is presently 15.72%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MLM shares. Wolfe Research downgraded Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a report on Friday, March 8th. StockNews.com lowered Martin Marietta Materials from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Citigroup boosted their price objective on Martin Marietta Materials from $573.00 to $635.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Morgan Stanley started coverage on Martin Marietta Materials in a research report on Monday, January 8th. They set an “overweight” rating and a $595.00 price objective for the company. Finally, Stifel Nicolaus boosted their price objective on Martin Marietta Materials from $510.00 to $598.00 and gave the company a “buy” rating in a research report on Tuesday, December 19th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and an average target price of $564.85.

Read Our Latest Stock Analysis on Martin Marietta Materials

About Martin Marietta Materials

(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.

Further Reading

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

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