Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 9.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,379 shares of the construction company’s stock after selling 3,418 shares during the quarter. PNC Financial Services Group Inc. owned 0.06% of Martin Marietta Materials worth $17,757,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Martin Marietta Materials by 14.5% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 20,797 shares of the construction company’s stock valued at $10,909,000 after purchasing an additional 2,639 shares in the last quarter. AMG National Trust Bank grew its position in Martin Marietta Materials by 5.5% during the fourth quarter. AMG National Trust Bank now owns 462 shares of the construction company’s stock valued at $238,000 after buying an additional 24 shares during the period. Mesirow Financial Investment Management Inc. increased its holdings in Martin Marietta Materials by 55.9% in the fourth quarter. Mesirow Financial Investment Management Inc. now owns 959 shares of the construction company’s stock valued at $495,000 after buying an additional 344 shares in the last quarter. Callan Family Office LLC acquired a new position in shares of Martin Marietta Materials in the fourth quarter worth about $729,000. Finally, Welch & Forbes LLC purchased a new stake in shares of Martin Marietta Materials during the 4th quarter worth about $206,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Donald A. Mccunniff sold 1,332 shares of Martin Marietta Materials stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total transaction of $632,700.00. Following 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael J. Petro acquired 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 acquisition, the senior vice president now directly owns 8,985 shares of the company’s stock, valued at $4,082,514.45. The trade was a 6.52 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.68% of the company’s stock.

Martin Marietta Materials Stock Up 1.5 %

MLM stock opened at $467.37 on Tuesday. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average of $517.81 and a two-hundred day moving average of $542.72. Martin Marietta Materials, Inc. has a 12 month low of $448.50 and a 12 month high of $633.23. The company has a market cap of $28.50 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 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%. As a group, analysts forecast 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 declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be issued 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 0.68%. Martin Marietta Materials’s dividend payout ratio is presently 9.77%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MLM. Raymond James cut their price target on Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. JPMorgan Chase & Co. upgraded Martin Marietta Materials from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $515.00 to $640.00 in a research report on Wednesday, November 27th. Truist Financial decreased their target price on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Stifel Nicolaus started coverage on shares of Martin Marietta Materials in a report on Tuesday, March 4th. They issued a “buy” rating and a $559.00 price target for the company. Finally, Loop Capital decreased their price objective on shares of Martin Marietta Materials from $680.00 to $645.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $634.36.

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.