Martin Marietta Materials (NYSE:MLM) Reaches New 1-Year Low After Insider Selling

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) reached a new 52-week low during mid-day trading on Friday after an insider sold shares in the company. The stock traded as low as $448.50 and last traded at $452.98, with a volume of 333928 shares trading hands. The stock had previously closed at $475.91.

Specifically, EVP Donald A. Mccunniff sold 1,332 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total transaction of $632,700.00. Following the completion of the sale, the executive vice president now directly owns 3,523 shares in the company, valued at $1,673,425. This represents a 27.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analysts Forecast Growth

MLM has been the subject of a number of recent analyst reports. Raymond James decreased 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. Truist Financial cut their price objective on shares of Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Hsbc Global Res raised shares of Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Morgan Stanley cut their price objective on shares of Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Finally, Barclays cut their price objective on shares of Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $634.36.

Martin Marietta Materials Trading Down 3.1 %

The company has a market cap of $28.11 billion, a price-to-earnings ratio of 14.26, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. The company’s fifty day moving average price is $518.87 and its two-hundred day moving average price is $543.18. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, topping 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%. Research analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The business 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 dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $3.16 annualized dividend and a dividend yield of 0.69%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 9.77%.

Institutional Trading of Martin Marietta Materials

Hedge funds have recently modified their holdings of the stock. Franklin Street Advisors Inc. NC grew its stake in shares of Martin Marietta Materials by 15.5% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 25,242 shares of the construction company’s stock valued at $13,037,000 after purchasing an additional 3,384 shares during the last quarter. Sanctuary Advisors LLC grew its stake in shares of Martin Marietta Materials by 18.5% during the third quarter. Sanctuary Advisors LLC now owns 8,220 shares of the construction company’s stock valued at $4,914,000 after purchasing an additional 1,286 shares during the last quarter. RMR Wealth Builders grew its stake in shares of Martin Marietta Materials by 431.3% during the fourth quarter. RMR Wealth Builders now owns 2,391 shares of the construction company’s stock valued at $1,235,000 after purchasing an additional 1,941 shares during the last quarter. Kovack Advisors Inc. bought a new stake in shares of Martin Marietta Materials during the third quarter valued at approximately $734,000. Finally, Benjamin Edwards Inc. grew its stake in shares of Martin Marietta Materials by 2,448.1% during the third quarter. Benjamin Edwards Inc. now owns 1,376 shares of the construction company’s stock valued at $741,000 after purchasing an additional 1,322 shares during the last quarter. 95.04% of the stock is owned by institutional investors.

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.