Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Bogart Wealth LLC

Bogart Wealth LLC lowered its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 37.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 84 shares of the construction company’s stock after selling 50 shares during the quarter. Bogart Wealth LLC’s holdings in Martin Marietta Materials were worth $42,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Schear Investment Advisers LLC boosted its holdings in shares of Martin Marietta Materials by 1.2% in the 4th quarter. Schear Investment Advisers LLC now owns 1,647 shares of the construction company’s stock valued at $822,000 after purchasing an additional 20 shares during the last quarter. Independence Bank of Kentucky increased its stake in Martin Marietta Materials by 16.9% during the 4th quarter. Independence Bank of Kentucky now owns 152 shares of the construction company’s stock worth $76,000 after buying an additional 22 shares during the period. Global Retirement Partners LLC increased its stake in Martin Marietta Materials by 5.0% during the 4th quarter. Global Retirement Partners LLC now owns 460 shares of the construction company’s stock worth $228,000 after buying an additional 22 shares during the period. Spreng Capital Management Inc. increased its stake in Martin Marietta Materials by 3.1% during the 4th quarter. Spreng Capital Management Inc. now owns 775 shares of the construction company’s stock worth $387,000 after buying an additional 23 shares during the period. Finally, Park Place Capital Corp increased its stake in Martin Marietta Materials by 11.3% during the 4th quarter. Park Place Capital Corp now owns 247 shares of the construction company’s stock worth $123,000 after buying an additional 25 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

Martin Marietta Materials stock traded up $5.75 during midday trading on Thursday, reaching $602.39. 33,624 shares of the stock traded hands, compared to its average volume of 412,312. The company has a current ratio of 3.16, a quick ratio of 2.41 and a debt-to-equity ratio of 0.44. The firm has a fifty day moving average price of $600.80 and a two-hundred day moving average price of $526.10. The firm has a market cap of $37.13 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 2.80 and a beta of 0.95. Martin Marietta Materials, Inc. has a fifty-two week low of $389.90 and a fifty-two week high of $626.67.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.05. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the firm earned $2.16 EPS. Martin Marietta Materials’s revenue was down 7.6% on a year-over-year basis. On average, equities research analysts forecast that Martin Marietta Materials, Inc. will post 21.7 earnings per share 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 dividend of $0.74 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.49%. Martin Marietta Materials’s dividend payout ratio is currently 8.77%.

Insider Activity

In related news, Director Sue W. Cole sold 1,724 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $543.48, for a total transaction of $936,959.52. Following the transaction, the director now directly owns 19,793 shares of the company’s stock, valued at $10,757,099.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Martin Marietta Materials news, Director Sue W. Cole sold 1,724 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 19,793 shares of the company’s stock, valued at $10,757,099.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Roselyn R. Bar sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $603.29, for a total transaction of $6,032,900.00. Following the completion of the sale, the executive vice president now directly owns 59,970 shares of the company’s stock, valued at $36,179,301.30. The disclosure for this sale can be found here. Insiders have sold 26,724 shares of company stock worth $16,033,760 over the last 90 days. 0.68% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MLM has been the topic of several analyst reports. StockNews.com downgraded shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a research note on Thursday. The Goldman Sachs Group lifted their price target on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Stephens lifted their price target on shares of Martin Marietta Materials from $575.00 to $605.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. Truist Financial raised their price objective on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Finally, Stifel Nicolaus raised their price objective on shares of Martin Marietta Materials from $621.00 to $650.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and a consensus price target of $598.17.

Martin Marietta Materials 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.