Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp reduced its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 7.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 175,184 shares of the construction company’s stock after selling 13,753 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Martin Marietta Materials were worth $90,483,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Lee Danner & Bass Inc. acquired a new position in Martin Marietta Materials in the fourth quarter valued at approximately $28,000. Whipplewood Advisors LLC purchased a new stake in shares of Martin Marietta Materials during the 4th quarter worth about $32,000. Kestra Investment Management LLC purchased a new position in shares of Martin Marietta Materials in the 4th quarter valued at about $35,000. Hopwood Financial Services Inc. acquired a new position in Martin Marietta Materials in the 4th quarter worth about $36,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Martin Marietta Materials by 91.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company’s stock valued at $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.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MLM. BNP Paribas lowered Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Citigroup dropped their target price on shares of Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Loop Capital decreased their price target on shares of Martin Marietta Materials from $680.00 to $645.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Morgan Stanley cut their price objective on Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Finally, Stifel Nicolaus assumed coverage on Martin Marietta Materials in a research report on Tuesday, March 4th. They issued a “buy” rating and a $559.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $628.64.

Insider Activity

In other Martin Marietta Materials news, EVP Donald A. Mccunniff sold 1,332 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total transaction of $632,700.00. Following the sale, the executive vice president now directly owns 3,523 shares in the company, valued at $1,673,425. This represents a 27.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael J. Petro purchased 550 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $454.37 per share, with a total value of $249,903.50. Following the purchase, the senior vice president now owns 8,985 shares of the company’s stock, valued at approximately $4,082,514.45. This represents a 6.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.68% of the company’s stock.

Martin Marietta Materials Stock Up 2.8 %

MLM stock opened at $490.51 on Tuesday. The firm has a market cap of $29.91 billion, a PE ratio of 15.17, a PEG ratio of 4.45 and a beta of 0.89. Martin Marietta Materials, Inc. has a one year low of $448.50 and a one year high of $633.23. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50. The firm’s 50 day moving average price is $510.82 and its 200-day moving average price is $539.41.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, beating analysts’ consensus estimates 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 anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently declared 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. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date is Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio is presently 9.77%.

Martin Marietta Materials 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.