Martin Marietta Materials, Inc. (NYSE:MLM) Stock Holdings Cut by Gardner Russo & Quinn LLC

Gardner Russo & Quinn LLC reduced its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 5.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. 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 4.1% of Gardner Russo & Quinn LLC’s portfolio, making the stock its 9th largest holding. Gardner Russo & Quinn LLC owned approximately 1.16% of Martin Marietta Materials worth $365,171,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Martin Marietta Materials by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 7,174,183 shares of the construction company’s stock valued at $3,705,466,000 after acquiring an additional 36,531 shares during the period. JPMorgan Chase & Co. raised its position in 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 purchasing an additional 506,705 shares during the period. Principal Financial Group Inc. raised its position in Martin Marietta Materials by 11.7% in the 4th quarter. Principal Financial Group Inc. now owns 1,819,744 shares of the construction company’s stock worth $939,898,000 after purchasing an additional 191,043 shares during the period. Amundi lifted its stake in Martin Marietta Materials by 10.5% in the fourth quarter. Amundi now owns 1,562,146 shares of the construction company’s stock worth $808,005,000 after purchasing an additional 148,065 shares during the last quarter. Finally, Proficio Capital Partners LLC boosted its position 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 valued at $474,370,000 after buying an additional 916,743 shares during the period. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Trading Down 1.3 %

NYSE MLM opened at $477.92 on Friday. Martin Marietta Materials, Inc. has a 12-month low of $448.50 and a 12-month high of $633.23. The company has a fifty day simple moving average of $507.03 and a two-hundred day simple moving average of $538.34. 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 stock has a market cap of $29.14 billion, a P/E ratio of 14.78, a P/E/G ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

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

Insider Activity

In other Martin Marietta Materials news, SVP Michael J. Petro acquired 550 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased 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 owns 8,985 shares of the company’s stock, valued at approximately $4,082,514.45. This trade represents a 6.52 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Donald A. Mccunniff sold 1,332 shares of the 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 directly 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. Company insiders own 0.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MLM. JPMorgan Chase & Co. lowered Martin Marietta Materials from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $640.00 to $560.00 in a research note on Wednesday, March 19th. Barclays decreased their target price 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. Truist Financial cut their price target on shares of Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Wolfe Research raised shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price objective for the company in a research report on Wednesday, January 8th. Finally, Raymond James reduced their target price on shares of Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $628.64.

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.