Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Penn Capital Management Company LLC

Penn Capital Management Company LLC reduced its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 33.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 405 shares of the construction company’s stock after selling 202 shares during the period. Penn Capital Management Company LLC’s holdings in Martin Marietta Materials were worth $209,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Checchi Capital Advisers LLC increased its holdings in Martin Marietta Materials by 1.4% in the fourth quarter. Checchi Capital Advisers LLC now owns 1,336 shares of the construction company’s stock valued at $690,000 after buying an additional 19 shares during the last quarter. OneDigital Investment Advisors LLC raised its position in shares of Martin Marietta Materials by 1.9% during the 4th quarter. OneDigital Investment Advisors LLC now owns 1,020 shares of the construction company’s stock valued at $527,000 after acquiring an additional 19 shares in the last quarter. Brooklyn Investment Group lifted its stake in Martin Marietta Materials by 4.7% during the fourth quarter. Brooklyn Investment Group now owns 447 shares of the construction company’s stock worth $231,000 after purchasing an additional 20 shares during the last quarter. OLD National Bancorp IN boosted its holdings in Martin Marietta Materials by 4.5% in the fourth quarter. OLD National Bancorp IN now owns 483 shares of the construction company’s stock worth $249,000 after purchasing an additional 21 shares during the period. Finally, Signaturefd LLC increased its stake in Martin Marietta Materials by 2.6% during the fourth quarter. Signaturefd LLC now owns 835 shares of the construction company’s stock valued at $431,000 after purchasing an additional 21 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $509.87 on Friday. The stock has a market cap of $30.90 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 4.45 and a beta of 0.81. 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 12 month low of $441.95 and a 12 month high of $633.23. The stock’s 50 day moving average price is $484.04 and its 200 day moving average price is $531.70.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, topping 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%. Equities research 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 disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were paid a $0.79 dividend. The ex-dividend date was Monday, March 3rd. This represents a $3.16 annualized dividend and a dividend yield of 0.62%. Martin Marietta Materials’s dividend payout ratio is currently 9.77%.

Analysts Set New Price Targets

MLM has been the subject of several research reports. Wolfe Research raised shares of 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 dropped their price target 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. Citigroup reduced their price objective on Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating for the company in a research report on Monday, January 6th. StockNews.com lowered Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. Finally, Raymond James reduced their price target on shares of Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $599.62.

Insider Buying and Selling

In other news, EVP Donald A. Mccunniff sold 1,332 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total transaction of $632,700.00. Following the sale, the executive vice president now directly owns 3,523 shares of the company’s stock, valued at $1,673,425. The trade was a 27.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael J. Petro purchased 550 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the purchase, the senior vice president now directly owns 8,985 shares in the company, 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 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.