Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lessened its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 64.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,991 shares of the construction company’s stock after selling 8,996 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in Martin Marietta Materials were worth $2,578,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Lee Danner & Bass Inc. acquired a new position in Martin Marietta Materials in the 4th quarter worth approximately $28,000. Whipplewood Advisors LLC purchased a new stake in shares of Martin Marietta Materials in the 4th quarter valued at $32,000. Kestra Investment Management LLC acquired a new stake in shares of Martin Marietta Materials in the fourth quarter worth $35,000. Hopwood Financial Services Inc. acquired a new stake in shares of Martin Marietta Materials in the fourth quarter worth $36,000. Finally, EverSource Wealth Advisors LLC lifted its position in Martin Marietta Materials by 91.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company’s stock valued at $37,000 after purchasing an additional 34 shares during the period. 95.04% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Martin Marietta Materials

In related news, EVP Donald A. Mccunniff sold 1,332 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was 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. This trade represents a 27.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael J. Petro acquired 550 shares of the stock in a transaction on Tuesday, March 4th. The shares were 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 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. 0.69% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on MLM shares. 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 note on Thursday, February 13th. JPMorgan Chase & Co. downgraded Martin Marietta Materials from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $640.00 to $560.00 in a report on Wednesday, March 19th. Seaport Res Ptn raised shares of Martin Marietta Materials to a “strong-buy” rating in a research note on Friday, March 21st. Raymond James decreased their target price on shares of Martin Marietta Materials from $600.00 to $597.00 and set an “outperform” rating for the company in a research note on Tuesday, April 29th. Finally, Stifel Nicolaus raised their price target on shares of Martin Marietta Materials from $559.00 to $609.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $599.69.

Martin Marietta Materials Price Performance

Shares of Martin Marietta Materials stock opened at $541.61 on Friday. The stock has a market capitalization of $32.65 billion, a P/E ratio of 16.75, a PEG ratio of 4.45 and a beta of 0.89. The business has a 50 day simple moving average of $491.51 and a two-hundred day simple moving average of $529.26. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $633.23. 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 (NYSE:MLM) last posted its quarterly earnings data on Wednesday, April 30th. The construction company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.88 by $0.02. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the company earned $1.93 EPS. The firm’s revenue was up 8.2% compared to the same quarter last year. As a group, analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS 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. Investors of record on Monday, March 3rd were paid a dividend of $0.79 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $3.16 annualized dividend and a yield of 0.58%. Martin Marietta Materials’s dividend payout ratio is presently 18.20%.

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.