Franklin Street Advisors Inc. NC Cuts Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Franklin Street Advisors Inc. NC decreased its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 12.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 475 shares of the construction company’s stock after selling 70 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in Martin Marietta Materials were worth $237,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. MV Capital Management Inc. lifted its holdings in shares of Martin Marietta Materials by 144.4% in the 3rd quarter. MV Capital Management Inc. now owns 66 shares of the construction company’s stock valued at $27,000 after acquiring an additional 39 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in shares of Martin Marietta Materials in the 4th quarter worth approximately $27,000. Householder Group Estate & Retirement Specialist LLC purchased a new stake in Martin Marietta Materials during the 3rd quarter valued at $30,000. Covestor Ltd raised its holdings in Martin Marietta Materials by 84.6% during the 3rd quarter. Covestor Ltd now owns 72 shares of the construction company’s stock valued at $30,000 after buying an additional 33 shares during the period. Finally, Quarry LP bought a new stake in Martin Marietta Materials in the first quarter worth $30,000. Institutional investors own 95.04% of the company’s stock.

Insider Activity

In other news, CEO C Howard Nye sold 15,000 shares of Martin Marietta Materials stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $604.26, for a total transaction of $9,063,900.00. Following the completion of the transaction, the chief executive officer now directly owns 134,640 shares of the company’s stock, valued at approximately $81,357,566.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO C Howard Nye sold 15,000 shares of Martin Marietta Materials stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $604.26, for a total value of $9,063,900.00. Following the completion of the transaction, the chief executive officer now owns 134,640 shares in the company, valued at approximately $81,357,566.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Roselyn R. Bar sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $603.29, for a total value of $6,032,900.00. Following the completion of the sale, the executive vice president now owns 59,970 shares of the company’s stock, valued at $36,179,301.30. The disclosure for this sale can be found here. Insiders sold a total of 26,724 shares of company stock valued at $16,033,760 in the last quarter. 0.61% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MLM has been the topic of several recent analyst reports. Truist Financial increased their target price on shares of Martin Marietta Materials from $550.00 to $610.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Wolfe Research lowered Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a report on Friday, March 8th. StockNews.com lowered shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Stephens boosted their price objective on shares of Martin Marietta Materials from $575.00 to $605.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. Finally, Stifel Nicolaus raised their target price on shares of Martin Marietta Materials from $510.00 to $598.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $564.85.

Martin Marietta Materials Price Performance

Shares of NYSE MLM opened at $613.94 on Friday. Martin Marietta Materials, Inc. has a 52 week low of $332.13 and a 52 week high of $617.08. The company has a quick ratio of 2.50, a current ratio of 3.35 and a debt-to-equity ratio of 0.49. The firm has a market cap of $37.95 billion, a P/E ratio of 32.60, a P/E/G ratio of 2.99 and a beta of 0.95. The business’s 50 day moving average price is $558.13 and its 200 day moving average price is $489.53.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Wednesday, February 14th. The construction company reported $4.63 EPS for the quarter, beating the consensus estimate of $3.96 by $0.67. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.62 billion. Martin Marietta Materials had a net margin of 17.25% and a return on equity of 15.77%. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.04 EPS. On average, sell-side analysts expect that Martin Marietta Materials, Inc. will post 21.09 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 4th were paid a dividend of $0.74 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.48%. Martin Marietta Materials’s payout ratio is currently 15.72%.

About Martin Marietta Materials

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.