Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Gardner Russo & Quinn LLC

Gardner Russo & Quinn LLC reduced its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 5.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 707,010 shares of the construction company’s stock after selling 43,062 shares during the period. Martin Marietta Materials makes up about 4.1% of Gardner Russo & Quinn LLC’s holdings, making the stock its 9th largest position. Gardner Russo & Quinn LLC’s holdings in Martin Marietta Materials were worth $365,171,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Lee Danner & Bass Inc. acquired a new position in shares of Martin Marietta Materials during the 4th quarter valued at about $28,000. Whipplewood Advisors LLC bought a new position in shares of Martin Marietta Materials during the fourth quarter worth about $32,000. Kestra Investment Management LLC acquired a new stake in Martin Marietta Materials during the fourth quarter valued at approximately $35,000. Hopwood Financial Services Inc. acquired a new stake in shares of Martin Marietta Materials during the 4th quarter valued at approximately $36,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Martin Marietta Materials by 91.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company’s stock worth $37,000 after buying an additional 34 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MLM has been the topic of a number of research reports. JPMorgan Chase & Co. cut Martin Marietta Materials from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $640.00 to $560.00 in a research report on Wednesday, March 19th. Barclays reduced their price objective on Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Loop Capital lowered their price target on Martin Marietta Materials from $680.00 to $645.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. HSBC upgraded Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 target price for the company in a research report on Wednesday, December 11th. Finally, Seaport Res Ptn upgraded shares of Martin Marietta Materials to a “strong-buy” rating in a research report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $628.64.

Martin Marietta Materials Price Performance

MLM opened at $477.92 on Friday. The firm has a market capitalization of $29.14 billion, a P/E ratio of 14.78, a PEG ratio of 4.45 and a beta of 0.89. The stock has a fifty day moving average of $507.03 and a 200-day moving average of $538.34. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a 12-month low of $448.50 and a 12-month high of $633.23.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. Equities analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Monday, March 3rd. Martin Marietta Materials’s payout ratio is presently 9.77%.

Insider Buying and Selling at Martin Marietta Materials

In other Martin Marietta Materials news, EVP Donald A. Mccunniff sold 1,332 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total value of $632,700.00. Following the transaction, the executive vice president now owns 3,523 shares in the company, valued at $1,673,425. The trade was a 27.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Michael J. Petro purchased 550 shares of Martin Marietta Materials stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average price of $454.37 per share, with a total value of $249,903.50. Following the completion of the acquisition, the senior vice president now owns 8,985 shares in the company, valued at $4,082,514.45. The trade was a 6.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.68% of the company’s stock.

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.