Insider Selling: Martin Marietta Materials, Inc. (NYSE:MLM) EVP Sells $632,700.00 in Stock

Martin Marietta Materials, Inc. (NYSE:MLM) EVP Donald A. Mccunniff sold 1,332 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total value of $632,700.00. Following 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Martin Marietta Materials Stock Performance

Martin Marietta Materials stock opened at $461.02 on Friday. The firm has a 50 day simple moving average of $518.87 and a 200-day simple moving average of $543.22. The stock 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 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, Inc. has a 1-year low of $448.50 and a 1-year high of $633.23.

Martin Marietta Materials (NYSE:MLM) last issued 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 return on equity of 12.11% and a net margin of 30.54%. On average, analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is 9.77%.

Hedge Funds Weigh In On Martin Marietta Materials

Hedge funds and other institutional investors have recently bought and sold shares of the company. Franklin Street Advisors Inc. NC raised its position in Martin Marietta Materials by 15.5% in the 4th 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 in the last quarter. Sanctuary Advisors LLC raised its holdings in Martin Marietta Materials by 18.5% in the third quarter. Sanctuary Advisors LLC now owns 8,220 shares of the construction company’s stock valued at $4,914,000 after acquiring an additional 1,286 shares in the last quarter. RMR Wealth Builders lifted its stake in Martin Marietta Materials by 431.3% in the fourth quarter. RMR Wealth Builders now owns 2,391 shares of the construction company’s stock worth $1,235,000 after acquiring an additional 1,941 shares during the last quarter. Kovack Advisors Inc. acquired a new position in Martin Marietta Materials during the 3rd quarter worth approximately $734,000. Finally, Benjamin Edwards Inc. increased its position in shares of Martin Marietta Materials by 2,448.1% in the 3rd 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 currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Raymond James cut their price objective on shares of Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating on the stock 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 on the stock in a report on Thursday, February 13th. JPMorgan Chase & Co. raised shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $515.00 to $640.00 in a report on Wednesday, November 27th. Wolfe Research raised shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price objective on the stock in a report on Wednesday, January 8th. Finally, Stifel Nicolaus began coverage on shares of Martin Marietta Materials in a report on Tuesday, March 4th. They issued a “buy” rating and a $559.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $634.36.

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.