Martin Marietta Materials, Inc. (NYSE:MLM) Holdings Cut by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. decreased its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 14.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,875 shares of the construction company’s stock after selling 656 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Martin Marietta Materials were worth $2,001,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its position in Martin Marietta Materials by 23.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock worth $1,441,663,000 after buying an additional 506,705 shares in the last quarter. FMR LLC lifted its position in Martin Marietta Materials by 15.3% in the 3rd quarter. FMR LLC now owns 2,515,441 shares of the construction company’s stock worth $1,353,936,000 after buying an additional 334,605 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Martin Marietta Materials by 11.7% during the 4th quarter. Principal Financial Group Inc. now owns 1,819,744 shares of the construction company’s stock worth $939,898,000 after purchasing an additional 191,043 shares during the last quarter. Amundi increased its stake in shares of Martin Marietta Materials by 10.5% during the 4th quarter. Amundi now owns 1,562,146 shares of the construction company’s stock worth $808,005,000 after purchasing an additional 148,065 shares during the last quarter. Finally, Proficio Capital Partners LLC increased 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 worth $474,370,000 after purchasing an additional 916,743 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on MLM. Stifel Nicolaus began coverage on shares of Martin Marietta Materials in a research note on Tuesday, March 4th. They set a “buy” rating and a $559.00 price target on the stock. Citigroup dropped their price target on shares of Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Stephens dropped their price target on shares of Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Raymond James dropped their price target on shares of Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Finally, StockNews.com lowered shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Martin Marietta Materials has an average rating of “Moderate Buy” and an average price target of $628.64.

Insider Transactions at Martin Marietta Materials

In other news, EVP Donald A. Mccunniff sold 1,332 shares of the firm’s stock in a transaction dated 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 directly owns 3,523 shares of the company’s stock, valued at approximately $1,673,425. This trade represents a 27.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael J. Petro acquired 550 shares of Martin Marietta Materials stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $454.37 per share, with a total value of $249,903.50. Following the completion of the acquisition, the senior vice president now directly owns 8,985 shares in the company, 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. 0.68% of the stock is owned by insiders.

Martin Marietta Materials Stock Performance

NYSE MLM opened at $483.84 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. The firm has a market capitalization of $29.50 billion, a price-to-earnings ratio of 14.97, a P/E/G ratio of 4.45 and a beta of 0.89. The company’s fifty day moving average is $511.89 and its two-hundred day moving average is $539.58. Martin Marietta Materials, Inc. has a 52-week low of $448.50 and a 52-week high of $633.23.

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

Martin Marietta Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Monday, March 3rd. Martin Marietta Materials’s payout ratio is 9.77%.

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.