Mutual of America Capital Management LLC Decreases Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Mutual of America Capital Management LLC reduced its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 4.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 8,269 shares of the construction company’s stock after selling 379 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Martin Marietta Materials were worth $4,125,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Martin Marietta Materials by 1.6% in the first quarter. Vanguard Group Inc. now owns 6,850,912 shares of the construction company’s stock valued at $2,636,848,000 after acquiring an additional 105,535 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Martin Marietta Materials by 9.7% in the third quarter. JPMorgan Chase & Co. now owns 2,042,537 shares of the construction company’s stock worth $838,421,000 after purchasing an additional 181,136 shares during the last quarter. FMR LLC increased its holdings in Martin Marietta Materials by 225.3% during the 3rd quarter. FMR LLC now owns 1,833,959 shares of the construction company’s stock valued at $752,803,000 after purchasing an additional 1,270,116 shares during the period. Geode Capital Management LLC raised its position in Martin Marietta Materials by 2.2% during the 1st quarter. Geode Capital Management LLC now owns 1,286,937 shares of the construction company’s stock valued at $455,900,000 after purchasing an additional 27,930 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Martin Marietta Materials by 8.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 919,179 shares of the construction company’s stock valued at $353,783,000 after purchasing an additional 70,072 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

Martin Marietta Materials stock opened at $594.59 on Wednesday. Martin Marietta Materials, Inc. has a twelve month low of $343.79 and a twelve month high of $626.67. The company has a quick ratio of 2.50, a current ratio of 3.35 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $36.76 billion, a P/E ratio of 31.58, a PEG ratio of 2.94 and a beta of 0.96. The stock’s 50 day moving average is $582.21 and its 200 day moving average is $506.31.

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

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 4th were issued a $0.74 dividend. The ex-dividend date was Friday, March 1st. This represents a $2.96 annualized dividend and a yield of 0.50%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 15.72%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MLM. Stephens boosted their target price on Martin Marietta Materials from $575.00 to $605.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Stifel Nicolaus raised their target price on shares of Martin Marietta Materials from $621.00 to $650.00 and gave the stock a “buy” rating in a research report on Monday. HSBC upgraded shares of Martin Marietta Materials from a “reduce” rating to a “hold” rating and boosted their price target for the company from $376.00 to $543.00 in a research report on Thursday, February 22nd. Truist Financial increased their price target on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Finally, StockNews.com downgraded 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 company. According to MarketBeat, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and a consensus target price of $588.69.

Insider Transactions at Martin Marietta Materials

In related news, Director Sue W. Cole sold 1,724 shares of the firm’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 completion of the sale, the director now owns 19,793 shares of the company’s stock, valued at $10,757,099.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO C Howard Nye sold 15,000 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sue W. Cole sold 1,724 shares of Martin Marietta Materials stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $543.48, for a total value of $936,959.52. Following the completion of the sale, the director now owns 19,793 shares of the company’s stock, valued at $10,757,099.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,724 shares of company stock worth $16,033,760. Corporate insiders own 0.59% of the company’s stock.

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.