Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 2.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 37,218 shares of the construction company’s stock after selling 756 shares during the period. Victory Capital Management Inc.’s holdings in Martin Marietta Materials were worth $18,568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in the stock. Cannell & Co. grew its position in shares of Martin Marietta Materials by 155.3% during the fourth quarter. Cannell & Co. now owns 4,110 shares of the construction company’s stock worth $2,051,000 after acquiring an additional 2,500 shares during the last quarter. Beck Bode LLC boosted its stake in Martin Marietta Materials by 107.0% during the 4th quarter. Beck Bode LLC now owns 5,993 shares of the construction company’s stock valued at $2,990,000 after purchasing an additional 3,098 shares during the period. Savant Capital LLC grew its position in Martin Marietta Materials by 23.7% in the 4th quarter. Savant Capital LLC now owns 1,169 shares of the construction company’s stock worth $583,000 after purchasing an additional 224 shares during the last quarter. Kestra Private Wealth Services LLC increased its stake in shares of Martin Marietta Materials by 6.8% in the fourth quarter. Kestra Private Wealth Services LLC now owns 923 shares of the construction company’s stock valued at $460,000 after purchasing an additional 59 shares during the period. Finally, Gilbert & Cook Inc. raised its holdings in shares of Martin Marietta Materials by 3.1% during the fourth quarter. Gilbert & Cook Inc. now owns 1,436 shares of the construction company’s stock valued at $716,000 after buying an additional 43 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

Insider Transactions at Martin Marietta Materials

In related news, Director Sue W. Cole sold 1,724 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $543.48, for a total value of $936,959.52. Following the transaction, the director now owns 19,793 shares in the company, valued at $10,757,099.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Sue W. Cole sold 1,724 shares of the company’s stock in a transaction on Friday, February 16th. The shares were 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 directly owns 19,793 shares in the company, valued at $10,757,099.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the chief executive officer now directly owns 134,640 shares in the company, valued at $81,357,566.40. The disclosure for this sale can be found here. Insiders sold 26,724 shares of company stock valued at $16,033,760 in the last three months. Corporate insiders own 0.68% of the company’s stock.

Martin Marietta Materials Stock Up 1.1 %

MLM stock opened at $603.20 on Friday. The firm has a 50 day simple moving average of $601.31 and a 200 day simple moving average of $526.64. The firm has a market cap of $37.18 billion, a PE ratio of 17.87, a P/E/G ratio of 2.80 and a beta of 0.95. Martin Marietta Materials, Inc. has a 12 month low of $389.90 and a 12 month high of $626.67. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.16 and a quick ratio of 2.41.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share for the quarter, topping 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 business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period last year, the firm posted $2.16 earnings per share. The firm’s quarterly revenue was down 7.6% compared to the same quarter last year. Equities research analysts forecast that Martin Marietta Materials, Inc. will post 21.7 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 4th were paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Friday, March 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 8.77%.

Analysts Set New Price Targets

Several analysts recently commented on MLM shares. The Goldman Sachs Group raised their target price on Martin Marietta Materials from $642.00 to $737.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Truist Financial lifted their price objective 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. Raymond James increased their target price on shares of Martin Marietta Materials from $505.00 to $555.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Stephens boosted their price target 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. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $600.00 price target (up from $530.00) on shares of Martin Marietta Materials in a research note on Friday, March 22nd. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $598.17.

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.