Weik Capital Management Sells 65 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Weik Capital Management cut its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,685 shares of the construction company’s stock after selling 65 shares during the period. Martin Marietta Materials accounts for about 2.2% of Weik Capital Management’s investment portfolio, making the stock its 8th biggest holding. Weik Capital Management’s holdings in Martin Marietta Materials were worth $5,519,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of MLM. Lee Danner & Bass Inc. acquired a new position in Martin Marietta Materials during the fourth quarter worth $28,000. Whipplewood Advisors LLC acquired a new position in shares of Martin Marietta Materials during the 4th quarter worth about $32,000. Kestra Investment Management LLC acquired a new position in shares of Martin Marietta Materials during the 4th quarter worth about $35,000. Hopwood Financial Services Inc. bought a new stake in shares of Martin Marietta Materials in the 4th quarter valued at about $36,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Martin Marietta Materials by 91.9% in the 4th 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 last quarter. 95.04% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MLM shares. Raymond James dropped their price objective on Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. StockNews.com cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. Barclays dropped their price objective on shares of Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Stifel Nicolaus began coverage on shares of Martin Marietta Materials in a report on Tuesday, March 4th. They set a “buy” rating and a $559.00 target price for the company. Finally, Stephens lowered their price target on shares of Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Martin Marietta Materials has a consensus rating of “Moderate Buy” and an average price target of $628.64.

Martin Marietta Materials Stock Up 0.4 %

Shares of NYSE MLM opened at $485.04 on Friday. The stock has a market capitalization of $29.57 billion, a P/E ratio of 15.00, a PEG ratio of 4.45 and a beta of 0.89. The stock’s fifty day moving average is $508.34 and its 200 day moving average is $538.54. Martin Marietta Materials, Inc. has a 52 week low of $448.50 and a 52 week high of $633.23. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, beating the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. Sell-side analysts forecast 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 declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be paid a $0.79 dividend. The ex-dividend date is Monday, March 3rd. This represents a $3.16 annualized dividend and a dividend yield of 0.65%. Martin Marietta Materials’s payout ratio is 9.77%.

Insider Transactions at Martin Marietta Materials

In other Martin Marietta Materials news, EVP Donald A. Mccunniff sold 1,332 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total transaction of $632,700.00. Following the completion of the transaction, the executive vice president now owns 3,523 shares of the company’s stock, valued at approximately $1,673,425. The trade was a 27.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael J. Petro purchased 550 shares of Martin Marietta Materials stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $454.37 per share, for a total transaction of $249,903.50. Following the completion of the purchase, the senior vice president now 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. 0.68% of the stock is owned by insiders.

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.