Allspring Global Investments Holdings LLC Sells 479 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Allspring Global Investments Holdings LLC cut its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 11.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,599 shares of the construction company’s stock after selling 479 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Martin Marietta Materials were worth $1,796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of MLM. Pinnacle Bancorp Inc. purchased a new position in shares of Martin Marietta Materials during the fourth quarter valued at approximately $26,000. International Assets Investment Management LLC increased its position in Martin Marietta Materials by 49,790.8% during the 4th quarter. International Assets Investment Management LLC now owns 59,869 shares of the construction company’s stock valued at $29,869,000 after purchasing an additional 59,749 shares during the period. Bleakley Financial Group LLC lifted its position in shares of Martin Marietta Materials by 166.1% in the 4th quarter. Bleakley Financial Group LLC now owns 2,725 shares of the construction company’s stock worth $1,360,000 after purchasing an additional 1,701 shares during the period. One Wealth Management Investment & Advisory Services LLC bought a new stake in shares of Martin Marietta Materials during the 4th quarter valued at about $245,000. Finally, Nisa Investment Advisors LLC increased its position in shares of Martin Marietta Materials by 29.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 10,876 shares of the construction company’s stock valued at $5,426,000 after buying an additional 2,452 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Insider Activity at Martin Marietta Materials

In other Martin Marietta Materials news, CEO C Howard Nye sold 15,000 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 134,640 shares in the company, valued at $81,357,566.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Roselyn R. Bar sold 10,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $603.29, for a total transaction of $6,032,900.00. Following the sale, the executive vice president now directly owns 59,970 shares in the company, valued at approximately $36,179,301.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO C Howard Nye sold 15,000 shares of Martin Marietta Materials stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $604.26, for a total transaction of $9,063,900.00. Following the transaction, the chief executive officer now owns 134,640 shares in the company, valued at approximately $81,357,566.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,724 shares of company stock worth $16,033,760. 0.59% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MLM. StockNews.com cut Martin Marietta Materials from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Raymond James upped their target price on shares of Martin Marietta Materials from $505.00 to $555.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Citigroup lifted their price target on shares of Martin Marietta Materials from $635.00 to $708.00 and gave the company a “buy” rating in a research report on Friday, April 5th. HSBC upgraded shares of Martin Marietta Materials from a “reduce” rating to a “hold” rating and upped their price objective for the stock from $376.00 to $543.00 in a report on Thursday, February 22nd. Finally, The Goldman Sachs Group lifted their target price on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $588.69.

Martin Marietta Materials Trading Up 1.5 %

Martin Marietta Materials stock opened at $584.32 on Tuesday. Martin Marietta Materials, Inc. has a one year low of $343.79 and a one year high of $626.67. The business’s fifty day moving average is $588.42 and its 200 day moving average is $512.48. 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 stock has a market capitalization of $36.06 billion, a PE ratio of 31.03, a price-to-earnings-growth ratio of 2.79 and a beta of 0.96.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Wednesday, February 14th. The construction company reported $4.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.96 by $0.67. Martin Marietta Materials had a net margin of 17.25% and a return on equity of 15.77%. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter last year, the firm posted $3.04 EPS. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, sell-side analysts predict that Martin Marietta Materials, Inc. will post 21.24 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 4th were paid a dividend of $0.74 per share. The ex-dividend date was Friday, March 1st. This represents a $2.96 dividend on an annualized basis and a yield of 0.51%. Martin Marietta Materials’s dividend payout ratio is presently 15.72%.

Martin Marietta Materials Company 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.