Huber Capital Management LLC Lowers Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Huber Capital Management LLC trimmed its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 35.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,992 shares of the construction company’s stock after selling 1,100 shares during the period. Huber Capital Management LLC’s holdings in Martin Marietta Materials were worth $1,029,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the business. Principal Financial Group Inc. grew its stake in shares of Martin Marietta Materials by 76.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock worth $876,648,000 after purchasing an additional 704,460 shares during the period. Verition Fund Management LLC grew its position in Martin Marietta Materials by 180.7% during the third quarter. Verition Fund Management LLC now owns 7,812 shares of the construction company’s stock worth $4,205,000 after buying an additional 5,029 shares during the period. Edgestream Partners L.P. increased its holdings in Martin Marietta Materials by 170.0% in the third quarter. Edgestream Partners L.P. now owns 3,354 shares of the construction company’s stock valued at $1,805,000 after buying an additional 2,112 shares in the last quarter. Benjamin Edwards Inc. lifted its position in shares of Martin Marietta Materials by 2,448.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 1,376 shares of the construction company’s stock valued at $741,000 after acquiring an additional 1,322 shares during the period. Finally, Hilltop Holdings Inc. boosted its position in Martin Marietta Materials by 184.0% during the third quarter. Hilltop Holdings Inc. now owns 2,082 shares of the construction company’s stock worth $1,121,000 after purchasing an additional 1,349 shares in the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Raymond James cut their price objective on shares of Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. HSBC upgraded Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 target price for the company in a research note on Wednesday, December 11th. Truist Financial reduced 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 note on Thursday, February 13th. JPMorgan Chase & Co. lowered Martin Marietta Materials from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $640.00 to $560.00 in a research report on Wednesday, March 19th. Finally, Wolfe Research raised shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price objective for the company in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $626.50.

Martin Marietta Materials Stock Up 1.6 %

Shares of Martin Marietta Materials stock opened at $492.54 on Thursday. The stock has a market cap of $30.03 billion, a PE ratio of 15.23, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. Martin Marietta Materials, Inc. has a 12 month low of $448.50 and a 12 month high of $633.23. The business has a fifty day simple moving average of $503.23 and a 200 day simple moving average of $537.94. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, beating 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%. Research analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date was Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.77%.

Insider Transactions at Martin Marietta Materials

In other news, SVP Michael J. Petro purchased 550 shares of Martin Marietta Materials stock in a transaction dated 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 acquisition, the senior vice president now owns 8,985 shares in the company, valued at approximately $4,082,514.45. This trade represents a 6.52 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Donald A. Mccunniff sold 1,332 shares of Martin Marietta Materials stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 3,523 shares in the company, valued at approximately $1,673,425. This represents a 27.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by corporate insiders.

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.