Southeast Asset Advisors LLC Has $4.75 Million Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Southeast Asset Advisors LLC lowered its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 15.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,205 shares of the construction company’s stock after selling 1,737 shares during the quarter. Martin Marietta Materials comprises about 0.6% of Southeast Asset Advisors LLC’s investment portfolio, making the stock its 25th biggest position. Southeast Asset Advisors LLC’s holdings in Martin Marietta Materials were worth $4,754,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Principal Financial Group Inc. boosted its position 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 purchasing an additional 704,460 shares during the period. Benjamin Edwards Inc. boosted its holdings in shares of Martin Marietta Materials by 2,448.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 1,376 shares of the construction company’s stock worth $741,000 after buying an additional 1,322 shares during the period. Integrated Wealth Concepts LLC grew its stake in Martin Marietta Materials by 2.5% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 782 shares of the construction company’s stock valued at $421,000 after buying an additional 19 shares during the last quarter. IHT Wealth Management LLC raised its holdings in Martin Marietta Materials by 13.9% in the 3rd quarter. IHT Wealth Management LLC now owns 468 shares of the construction company’s stock worth $252,000 after acquiring an additional 57 shares during the period. Finally, Quarry LP acquired a new position in Martin Marietta Materials during the 3rd quarter worth $87,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Stock Down 3.0 %

Shares of Martin Marietta Materials stock opened at $470.33 on Monday. Martin Marietta Materials, Inc. has a 52-week low of $430.00 and a 52-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 business’s 50 day simple moving average is $500.39 and its 200 day simple moving average is $537.21. The firm has a market cap of $28.68 billion, a PE ratio of 14.55, a P/E/G ratio of 4.45 and a beta of 0.81.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 earnings per share 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%. On average, analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were given a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Monday, March 3rd. Martin Marietta Materials’s payout ratio is presently 9.77%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. downgraded Martin Marietta Materials from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $640.00 to $560.00 in a research report on Wednesday, March 19th. 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 report on Tuesday, December 17th. Wolfe Research upgraded Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price target for the company in a report on Wednesday, January 8th. Truist Financial reduced their price objective on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, StockNews.com lowered shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $626.50.

Insider Activity

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

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.