Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD decreased its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 8.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 768,082 shares of the construction company’s stock after selling 69,016 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Martin Marietta Materials were worth $396,715,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MLM. Proficio Capital Partners LLC grew its stake in shares of Martin Marietta Materials by 54,277.3% during the 4th quarter. Proficio Capital Partners LLC now owns 918,432 shares of the construction company’s stock valued at $474,370,000 after buying an additional 916,743 shares during the period. Principal Financial Group Inc. grew its position in Martin Marietta Materials by 76.2% during the third quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock valued at $876,648,000 after acquiring an additional 704,460 shares during the period. Norges Bank acquired a new stake in Martin Marietta Materials during the fourth quarter worth about $306,863,000. JPMorgan Chase & Co. increased its stake in Martin Marietta Materials by 23.3% during the third quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock worth $1,441,663,000 after acquiring an additional 506,705 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Martin Marietta Materials in the 4th quarter worth about $196,374,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

Shares of NYSE MLM opened at $509.87 on Friday. 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, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $633.23. The business has a 50 day moving average price of $484.04 and a two-hundred day moving average price of $531.70. The firm has a market cap of $30.90 billion, a PE ratio of 15.77, a price-to-earnings-growth ratio of 4.45 and a beta of 0.81.

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

Martin Marietta Materials Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were paid a $0.79 dividend. The ex-dividend date was Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.62%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.77%.

Insider Transactions at Martin Marietta Materials

In other Martin Marietta Materials news, EVP Donald A. Mccunniff sold 1,332 shares of Martin Marietta Materials stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total value of $632,700.00. Following the completion of the transaction, the executive vice president now owns 3,523 shares of the company’s stock, valued at $1,673,425. The trade was a 27.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Michael J. Petro bought 550 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were acquired at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the completion of the acquisition, the senior vice president now directly owns 8,985 shares of the company’s stock, valued at $4,082,514.45. This trade represents a 6.52 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Barclays dropped their target price 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. Seaport Res Ptn raised shares of Martin Marietta Materials to a “strong-buy” rating in a research note on Friday, March 21st. Citigroup reduced their target price on shares of Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Raymond James lowered their price target on Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Finally, Wolfe Research upgraded Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price objective on the stock in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Martin Marietta Materials has a consensus rating of “Moderate Buy” and a consensus target price of $599.62.

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.