Flputnam Investment Management Co. Has $382,000 Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Flputnam Investment Management Co. trimmed its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 52.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 765 shares of the construction company’s stock after selling 835 shares during the quarter. Flputnam Investment Management Co.’s holdings in Martin Marietta Materials were worth $382,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of MLM. Pinnacle Bancorp Inc. acquired a new position in Martin Marietta Materials in the fourth quarter valued at about $26,000. Exchange Traded Concepts LLC bought a new stake in shares of Martin Marietta Materials during the 4th quarter worth approximately $27,000. MV Capital Management Inc. increased its stake in Martin Marietta Materials by 144.4% in the third quarter. MV Capital Management Inc. now owns 66 shares of the construction company’s stock valued at $27,000 after acquiring an additional 39 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in Martin Marietta Materials during the fourth quarter valued at approximately $34,000. Finally, Covestor Ltd boosted its holdings in shares of Martin Marietta Materials by 84.6% in the 3rd quarter. Covestor Ltd now owns 72 shares of the construction company’s stock valued at $30,000 after purchasing an additional 33 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Insider Buying and Selling

In other Martin Marietta Materials news, EVP Roselyn R. Bar sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were 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 can be accessed through the SEC website. 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 shares were sold at an average price of $604.26, for a total transaction of $9,063,900.00. Following the sale, the chief executive officer now owns 134,640 shares of the company’s stock, valued at $81,357,566.40. The sale 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 stock in a transaction dated 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 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 have sold a total of 26,724 shares of company stock valued at $16,033,760 over the last ninety days. 0.61% of the stock is owned by company insiders.

Martin Marietta Materials Trading Down 1.0 %

Shares of NYSE MLM opened at $587.13 on Friday. The stock has a market cap of $36.24 billion, a P/E ratio of 31.18, a price-to-earnings-growth ratio of 2.88 and a beta of 0.96. The firm has a 50 day moving average price of $586.40 and a two-hundred day moving average price of $508.75. 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, Inc. has a 52-week low of $343.79 and a 52-week high of $626.67.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Wednesday, February 14th. The construction company reported $4.63 earnings per share for the quarter, beating analysts’ consensus estimates of $3.96 by $0.67. The business had revenue of $1.61 billion during 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%. Martin Marietta Materials’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the business posted $3.04 earnings per share. As a group, equities analysts forecast that Martin Marietta Materials, Inc. will post 21.23 EPS for the current year.

Martin Marietta Materials Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MLM shares. Truist Financial upped their price objective on Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. The Goldman Sachs Group increased their target price on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a report on Tuesday. Stephens raised their price target 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. StockNews.com cut shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $600.00 price objective (up previously from $530.00) on shares of Martin Marietta Materials in a research note on Friday, March 22nd. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Martin Marietta Materials has an average rating of “Moderate Buy” and a consensus price target of $588.69.

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.