Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by American Investment Services Inc.

American Investment Services Inc. reduced its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 0.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,209 shares of the construction company’s stock after selling 43 shares during the period. American Investment Services Inc.’s holdings in Martin Marietta Materials were worth $3,723,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MLM. Lee Danner & Bass Inc. purchased a new position in shares of Martin Marietta Materials in the fourth quarter valued at approximately $28,000. Whipplewood Advisors LLC purchased a new stake in Martin Marietta Materials during the 4th quarter valued at about $32,000. Kestra Investment Management LLC purchased a new position in Martin Marietta Materials during the fourth quarter worth approximately $35,000. Hopwood Financial Services Inc. purchased a new position in Martin Marietta Materials during the fourth quarter worth approximately $36,000. Finally, EverSource Wealth Advisors LLC lifted its position in Martin Marietta Materials by 91.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company’s stock worth $37,000 after buying an additional 34 shares in the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Michael J. Petro bought 550 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost of $454.37 per share, with a total value of $249,903.50. Following the purchase, 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Donald A. Mccunniff sold 1,332 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total value of $632,700.00. Following the transaction, the executive vice president now directly 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 disclosure for this sale can be found here. 0.69% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. downgraded Martin Marietta Materials from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $640.00 to $560.00 in a research report on Wednesday, March 19th. Truist Financial reduced their target price on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Raymond James reduced their target price on Martin Marietta Materials from $600.00 to $597.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 29th. Wall Street Zen upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Tuesday, May 6th. Finally, Stifel Nicolaus lifted their target price on Martin Marietta Materials from $559.00 to $609.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $610.69.

Martin Marietta Materials Trading Down 0.5%

Shares of NYSE MLM opened at $561.76 on Tuesday. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $633.23. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. The stock has a fifty day simple moving average of $509.80 and a 200-day simple moving average of $526.24. The stock has a market capitalization of $33.87 billion, a PE ratio of 17.38, a PEG ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Wednesday, April 30th. The construction company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.02. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the previous year, the firm posted $1.93 earnings per share. The company’s revenue was up 8.2% on a year-over-year basis. On average, equities analysts forecast that Martin Marietta Materials, Inc. will post 19.53 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 Monday, June 30th. Investors of record on Monday, June 2nd will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $3.16 annualized dividend and a yield of 0.56%. Martin Marietta Materials’s payout ratio is 18.20%.

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.