Corient Private Wealth LLC Sells 3,352 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Corient Private Wealth LLC lessened its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 4.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,026 shares of the construction company’s stock after selling 3,352 shares during the period. Corient Private Wealth LLC owned about 0.12% of Martin Marietta Materials worth $36,685,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Proficio Capital Partners LLC boosted its holdings in shares of Martin Marietta Materials by 54,277.3% during the fourth quarter. Proficio Capital Partners LLC now owns 918,432 shares of the construction company’s stock worth $474,370,000 after purchasing an additional 916,743 shares during the period. Principal Financial Group Inc. boosted its position in shares of 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 valued at $876,648,000 after purchasing an additional 704,460 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Martin Marietta Materials by 23.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock worth $1,441,663,000 after buying an additional 506,705 shares during the period. Raymond James Financial Inc. purchased a new stake in Martin Marietta Materials in the fourth quarter worth about $196,374,000. Finally, FMR LLC grew its stake in shares of Martin Marietta Materials by 15.3% in the 3rd quarter. FMR LLC now owns 2,515,441 shares of the construction company’s stock worth $1,353,936,000 after buying an additional 334,605 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MLM. BNP Paribas downgraded shares of Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Hsbc Global Res raised Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Morgan Stanley reduced their target price on shares of Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Citigroup decreased their price objective on Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, StockNews.com downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $634.36.

Martin Marietta Materials Trading Up 2.5 %

MLM stock opened at $489.30 on Tuesday. Martin Marietta Materials, Inc. has a fifty-two week low of $448.50 and a fifty-two week high of $633.23. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50. The firm has a fifty day moving average price of $513.52 and a 200 day moving average price of $540.64. The firm has a market cap of $29.83 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $3.16 annualized dividend and a dividend yield of 0.65%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.77%.

Insider Activity at Martin Marietta Materials

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

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.