Independent Solutions Wealth Management LLC Sells 118 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Independent Solutions Wealth Management LLC reduced its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 19.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 486 shares of the construction company’s stock after selling 118 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in Martin Marietta Materials were worth $251,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MLM. Whittier Trust Co. of Nevada Inc. increased its holdings in Martin Marietta Materials by 1.4% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 6,177 shares of the construction company’s stock valued at $3,190,000 after buying an additional 88 shares during the last quarter. Douglass Winthrop Advisors LLC grew its position in shares of Martin Marietta Materials by 2.2% during the 4th quarter. Douglass Winthrop Advisors LLC now owns 197,762 shares of the construction company’s stock valued at $102,144,000 after acquiring an additional 4,174 shares during the period. HUB Investment Partners LLC purchased a new stake in shares of Martin Marietta Materials in the 4th quarter worth $415,000. Whittier Trust Co. raised its holdings in Martin Marietta Materials by 6.8% in the 4th quarter. Whittier Trust Co. now owns 15,647 shares of the construction company’s stock worth $8,082,000 after purchasing an additional 994 shares during the period. Finally, Teacher Retirement System of Texas lifted its position in Martin Marietta Materials by 38.5% during the fourth quarter. Teacher Retirement System of Texas now owns 572 shares of the construction company’s stock valued at $295,000 after purchasing an additional 159 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on MLM. BNP Paribas cut Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Citigroup reduced their target price on shares of Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating for the company in a report on Monday, January 6th. Morgan Stanley lowered their price target on shares of Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. JPMorgan Chase & Co. cut shares of Martin Marietta Materials from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $640.00 to $560.00 in a research note on Wednesday. Finally, Truist Financial decreased their price objective on shares of 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. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has 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 $628.64.

Insiders Place Their Bets

In related news, EVP Donald A. Mccunniff sold 1,332 shares of the stock in a transaction dated 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 approximately $1,673,425. This trade represents a 27.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael J. Petro acquired 550 shares of Martin Marietta Materials stock in a transaction on Tuesday, March 4th. The shares were bought at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the completion of the purchase, the senior vice president now directly owns 8,985 shares of the company’s stock, valued at $4,082,514.45. The trade was a 6.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.68% of the company’s stock.

Martin Marietta Materials Price Performance

NYSE:MLM opened at $483.84 on Friday. The business’s 50-day moving average is $511.89 and its 200 day moving average is $539.58. Martin Marietta Materials, Inc. has a 12 month low of $448.50 and a 12 month high of $633.23. The company has a market capitalization of $29.50 billion, a P/E ratio of 14.97, a P/E/G ratio of 4.45 and a beta of 0.89. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data 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 return on equity of 12.11% and a net margin of 30.54%. On average, equities research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.79 per share. The ex-dividend date is Monday, March 3rd. This represents a $3.16 annualized dividend and a yield of 0.65%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 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.