Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Tredje AP fonden

Tredje AP fonden trimmed its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 16.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,586 shares of the construction company’s stock after selling 4,885 shares during the quarter. Tredje AP fonden’s holdings in Martin Marietta Materials were worth $12,699,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of MLM. Principal Financial Group Inc. increased its stake in Martin Marietta Materials by 76.2% during the third quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock worth $876,648,000 after acquiring an additional 704,460 shares during the last quarter. Versor Investments LP bought a new position in Martin Marietta Materials during the 3rd quarter worth approximately $269,000. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Martin Marietta Materials by 1.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 136,970 shares of the construction company’s stock worth $73,724,000 after acquiring an additional 2,066 shares in the last quarter. Aigen Investment Management LP acquired a new position in Martin Marietta Materials in the third quarter valued at approximately $721,000. Finally, Aptus Capital Advisors LLC grew its holdings in shares of Martin Marietta Materials by 6.6% during the third quarter. Aptus Capital Advisors LLC now owns 583 shares of the construction company’s stock valued at $314,000 after purchasing an additional 36 shares during the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Michael J. Petro bought 550 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average price of $454.37 per share, for a total transaction of $249,903.50. Following the completion of the acquisition, the senior vice president now directly owns 8,985 shares in the company, valued at approximately $4,082,514.45. This represents a 6.52 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Donald A. Mccunniff sold 1,332 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total transaction of $632,700.00. Following the completion of the sale, the executive vice president now owns 3,523 shares in the company, valued at $1,673,425. This represents a 27.44 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MLM shares. Citigroup dropped their price target on Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Morgan Stanley lowered their target price on Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. HSBC raised Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price target for the company in a research note on Wednesday, December 11th. Truist Financial decreased their price target on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, Loop Capital reduced their price objective on Martin Marietta Materials from $680.00 to $645.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $634.36.

Martin Marietta Materials Price Performance

Shares of NYSE MLM opened at $465.23 on Friday. The stock has a market capitalization of $28.37 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 4.45 and a beta of 0.89. The business has a 50-day moving average of $514.83 and a 200-day moving average of $541.00. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. Martin Marietta Materials, Inc. has a fifty-two week low of $448.50 and a fifty-two week high of $633.23.

Martin Marietta Materials (NYSE:MLM) last issued 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 net margin of 30.54% and a return on equity of 12.11%. As a group, sell-side analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.68%. Martin Marietta Materials’s payout ratio is presently 9.77%.

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.