Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Schroder Investment Management Group

Schroder Investment Management Group cut its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 6.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,734 shares of the construction company’s stock after selling 501 shares during the period. Schroder Investment Management Group’s holdings in Martin Marietta Materials were worth $3,478,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Franklin Street Advisors Inc. NC lifted its stake in shares of 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 during the last quarter. Sanctuary Advisors LLC lifted its position 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 buying an additional 1,286 shares during the last quarter. RMR Wealth Builders boosted its stake in Martin Marietta Materials by 431.3% during the fourth quarter. RMR Wealth Builders now owns 2,391 shares of the construction company’s stock worth $1,235,000 after buying an additional 1,941 shares during the period. Benjamin Edwards Inc. increased its position 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 acquiring an additional 1,322 shares during the last quarter. Finally, InTrack Investment Management Inc raised its stake in shares of Martin Marietta Materials by 33.9% in the 4th quarter. InTrack Investment Management Inc now owns 3,446 shares of the construction company’s stock valued at $1,784,000 after acquiring an additional 872 shares during the period. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials Price Performance

Shares of NYSE MLM opened at $470.33 on Friday. The stock’s 50-day simple moving average is $500.39 and its 200-day simple moving average is $537.18. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50. The firm has a market capitalization of $28.68 billion, a PE ratio of 14.55, a price-to-earnings-growth ratio of 4.45 and a beta of 0.81. Martin Marietta Materials, Inc. has a fifty-two week low of $448.50 and a fifty-two week high of $633.23.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, beating analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. As a group, equities research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.67%. The ex-dividend date was Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio is presently 9.77%.

Insiders Place Their Bets

In other Martin Marietta Materials news, EVP Donald A. Mccunniff sold 1,332 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now owns 3,523 shares in the company, valued at approximately $1,673,425. This represents a 27.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael J. Petro purchased 550 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were purchased 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 of the company’s stock, valued at approximately $4,082,514.45. This trade represents a 6.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.68% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MLM has been the subject of several research reports. Morgan Stanley dropped their target price on shares of Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Seaport Res Ptn upgraded Martin Marietta Materials to a “strong-buy” rating in a report on Friday, March 21st. Loop Capital lowered their target price on Martin Marietta Materials from $645.00 to $615.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. JPMorgan Chase & Co. lowered shares of Martin Marietta Materials from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $640.00 to $560.00 in a research note on Wednesday, March 19th. Finally, Truist Financial lowered 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 note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Martin Marietta Materials has an average rating of “Moderate Buy” and a consensus price target of $626.50.

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.