Gulf International Bank UK Ltd Cuts Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Gulf International Bank UK Ltd lowered its stake in Martin Marietta Materials, Inc. (NYSE:MLMFree Report) by 10.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,113 shares of the construction company’s stock after selling 595 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Martin Marietta Materials were worth $2,550,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Spreng Capital Management Inc. boosted its holdings in Martin Marietta Materials by 3.4% in the third quarter. Spreng Capital Management Inc. now owns 752 shares of the construction company’s stock worth $309,000 after purchasing an additional 25 shares during the last quarter. Centaurus Financial Inc. raised its position in Martin Marietta Materials by 9.4% in the first quarter. Centaurus Financial Inc. now owns 336 shares of the construction company’s stock worth $119,000 after acquiring an additional 29 shares during the period. Gilbert & Cook Inc. raised its position in Martin Marietta Materials by 2.6% in the second quarter. Gilbert & Cook Inc. now owns 1,171 shares of the construction company’s stock worth $541,000 after acquiring an additional 30 shares during the period. Mitchell Capital Management Co. raised its position in Martin Marietta Materials by 0.5% in the third quarter. Mitchell Capital Management Co. now owns 5,763 shares of the construction company’s stock worth $2,366,000 after acquiring an additional 30 shares during the period. Finally, CWM LLC raised its position in Martin Marietta Materials by 2.1% in the third quarter. CWM LLC now owns 1,478 shares of the construction company’s stock worth $607,000 after acquiring an additional 31 shares during the period. Hedge funds and other institutional investors own 93.22% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Citigroup increased their price target on shares of Martin Marietta Materials from $573.00 to $635.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Truist Financial increased their price target on shares of Martin Marietta Materials from $550.00 to $610.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. JPMorgan Chase & Co. upgraded shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $490.00 to $530.00 in a research report on Tuesday, December 12th. The Goldman Sachs Group raised their price objective on shares of Martin Marietta Materials from $560.00 to $642.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Finally, Wolfe Research downgraded shares of Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research report on Friday, March 8th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $559.46.

Check Out Our Latest Analysis on MLM

Martin Marietta Materials Stock Performance

NYSE MLM opened at $612.57 on Friday. The company has a market cap of $37.87 billion, a P/E ratio of 32.53, a P/E/G ratio of 2.93 and a beta of 0.95. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.50 and a current ratio of 3.35. The business’s 50 day moving average price is $546.85 and its 200-day moving average price is $483.74. Martin Marietta Materials, Inc. has a fifty-two week low of $326.61 and a fifty-two week high of $617.08.

Martin Marietta Materials (NYSE:MLMGet Free Report) last released its earnings results on Wednesday, February 14th. The construction company reported $4.63 earnings per share for the quarter, beating the consensus estimate of $3.96 by $0.67. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.62 billion. Martin Marietta Materials had a return on equity of 15.77% and a net margin of 17.25%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.04 EPS. Sell-side analysts predict that Martin Marietta Materials, Inc. will post 21.25 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Monday, March 4th will be given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Friday, March 1st. Martin Marietta Materials’s dividend payout ratio is currently 15.72%.

Insider Activity at Martin Marietta Materials

In related news, EVP Roselyn R. Bar sold 10,000 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 59,970 shares in the company, valued at approximately $36,179,301.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Martin Marietta Materials news, CEO C Howard Nye sold 15,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $604.26, for a total value of $9,063,900.00. Following the completion of the sale, the chief executive officer now directly owns 134,640 shares in the company, valued at approximately $81,357,566.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Roselyn R. Bar sold 10,000 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $603.29, for a total value of $6,032,900.00. Following the completion of the sale, the executive vice president now 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 sold a total of 26,724 shares of company stock worth $16,033,760 in the last quarter. 0.61% of the stock is owned by company insiders.

Martin Marietta Materials Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

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