Sumitomo Mitsui Trust Holdings Inc. Has $73.78 Million Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 0.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 147,889 shares of the construction company’s stock after purchasing an additional 568 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.24% of Martin Marietta Materials worth $73,783,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Amalgamated Bank boosted its holdings in Martin Marietta Materials by 2.5% during the third quarter. Amalgamated Bank now owns 16,460 shares of the construction company’s stock valued at $6,757,000 after purchasing an additional 397 shares in the last quarter. Simplicity Solutions LLC boosted its holdings in Martin Marietta Materials by 166.1% during the fourth quarter. Simplicity Solutions LLC now owns 2,725 shares of the construction company’s stock valued at $1,360,000 after purchasing an additional 1,701 shares in the last quarter. Hudson Bay Capital Management LP bought a new position in shares of Martin Marietta Materials in the third quarter valued at approximately $3,284,000. Cultivar Capital Inc. bought a new position in shares of Martin Marietta Materials in the fourth quarter valued at approximately $2,260,000. Finally, Nordea Investment Management AB raised its stake in shares of Martin Marietta Materials by 2.8% in the third quarter. Nordea Investment Management AB now owns 4,050 shares of the construction company’s stock valued at $1,681,000 after acquiring an additional 111 shares during the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MLM has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their target price on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the company a “buy” rating in a research note on Tuesday. Stephens lifted their target price on shares of Martin Marietta Materials from $575.00 to $605.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Morgan Stanley assumed coverage on shares of Martin Marietta Materials in a research note on Monday, January 8th. They issued an “overweight” rating and a $595.00 target price for the company. Citigroup boosted their price objective on shares of Martin Marietta Materials from $635.00 to $708.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Finally, StockNews.com cut shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $588.69.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock opened at $592.46 on Thursday. The firm has a fifty day moving average of $583.81 and a two-hundred day moving average of $507.61. The stock has a market capitalization of $36.57 billion, a price-to-earnings ratio of 31.46, a PEG ratio of 2.89 and a beta of 0.96. Martin Marietta Materials, Inc. has a 52 week low of $343.79 and a 52 week high of $626.67. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.50 and a current ratio of 3.35.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Wednesday, February 14th. The construction company reported $4.63 EPS for the quarter, beating the consensus estimate of $3.96 by $0.67. Martin Marietta Materials had a net margin of 17.25% and a return on equity of 15.77%. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter in the previous year, the company posted $3.04 EPS. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, equities research analysts predict that Martin Marietta Materials, Inc. will post 21.23 EPS for the current year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 4th were issued a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Friday, March 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is 15.72%.

Insider Activity

In other news, Director Sue W. Cole sold 1,724 shares of the business’s stock in a transaction on 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 transaction, the director now owns 19,793 shares of the company’s stock, valued at approximately $10,757,099.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO C Howard Nye sold 15,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were 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 directly owns 134,640 shares of the company’s stock, 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, Director Sue W. Cole sold 1,724 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $543.48, for a total transaction of $936,959.52. Following the completion of the transaction, the director now directly owns 19,793 shares of the company’s stock, valued at $10,757,099.64. The disclosure for this sale can be found here. Insiders sold 26,724 shares of company stock valued at $16,033,760 in the last quarter. Company insiders own 0.61% of the company’s stock.

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.