Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Summit Global Investments

Summit Global Investments lessened its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 35.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,495 shares of the construction company’s stock after selling 1,368 shares during the period. Summit Global Investments’ holdings in Martin Marietta Materials were worth $1,245,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pinnacle Bancorp Inc. acquired a new position in Martin Marietta Materials in the fourth quarter valued at approximately $26,000. MV Capital Management Inc. boosted its holdings in Martin Marietta Materials by 144.4% during 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 period. Exchange Traded Concepts LLC acquired a new position in Martin Marietta Materials in the 4th quarter valued at about $27,000. Benjamin Edwards Inc. increased its stake in Martin Marietta Materials by 78.8% during the fourth quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock worth $29,000 after purchasing an additional 26 shares during the period. Finally, Covestor Ltd increased its stake in Martin Marietta Materials by 84.6% during the third quarter. Covestor Ltd now owns 72 shares of the construction company’s stock worth $30,000 after purchasing an additional 33 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Insider Buying and Selling at Martin Marietta Materials

In other news, CEO C Howard Nye sold 15,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 134,640 shares of the company’s stock, valued at $81,357,566.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Sue W. Cole sold 1,724 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $543.48, for a total value of $936,959.52. Following the completion of the sale, the director now owns 19,793 shares in the company, valued at $10,757,099.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO C Howard Nye sold 15,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 134,640 shares in the company, valued at approximately $81,357,566.40. 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 ninety days. Insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on MLM shares. JPMorgan Chase & Co. restated a “neutral” rating and issued a $600.00 price target (up previously from $530.00) on shares of Martin Marietta Materials in a research note on Friday, March 22nd. The Goldman Sachs Group upped their price target on Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Wolfe Research downgraded Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research report on Friday, March 8th. Citigroup upped their target price on shares of Martin Marietta Materials from $635.00 to $708.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Finally, StockNews.com upgraded shares of Martin Marietta Materials from a “hold” rating to a “buy” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Martin Marietta Materials has a consensus rating of “Moderate Buy” and an average price target of $588.69.

Martin Marietta Materials Stock Performance

MLM traded up $1.07 during trading on Friday, hitting $591.03. 491,967 shares of the stock were exchanged, compared to its average volume of 472,357. The company has a quick ratio of 2.50, a current ratio of 3.16 and a debt-to-equity ratio of 0.44. Martin Marietta Materials, Inc. has a 1-year low of $384.61 and a 1-year high of $626.67. The stock has a fifty day moving average price of $598.46 and a two-hundred day moving average price of $521.59. The firm has a market capitalization of $36.43 billion, a P/E ratio of 17.50, a PEG ratio of 2.80 and a beta of 0.95.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.88 by $0.05. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.31 billion. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. Martin Marietta Materials’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.16 EPS. As a group, sell-side analysts predict that Martin Marietta Materials, Inc. will post 21.7 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 4th were given a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Friday, March 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 8.77%.

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.