King Luther Capital Management Corp Sells 496 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

King Luther Capital Management Corp decreased its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 0.1% in the fourth quarter, Holdings Channel reports. The firm owned 717,349 shares of the construction company’s stock after selling 496 shares during the quarter. Martin Marietta Materials accounts for about 1.6% of King Luther Capital Management Corp’s portfolio, making the stock its 13th biggest position. King Luther Capital Management Corp’s holdings in Martin Marietta Materials were worth $370,511,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Net Worth Advisory Group increased its holdings in shares of Martin Marietta Materials by 2.4% in the 4th quarter. Net Worth Advisory Group now owns 972 shares of the construction company’s stock worth $502,000 after purchasing an additional 23 shares in the last quarter. Bluegrass Capital Partners LP increased its holdings in shares of Martin Marietta Materials by 180.0% in the 4th quarter. Bluegrass Capital Partners LP now owns 21,000 shares of the construction company’s stock worth $10,846,000 after purchasing an additional 13,500 shares in the last quarter. Independent Advisor Alliance bought a new stake in shares of Martin Marietta Materials in the fourth quarter worth $394,000. Daiwa Securities Group Inc. grew its holdings in shares of Martin Marietta Materials by 18.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 19,227 shares of the construction company’s stock worth $9,931,000 after acquiring an additional 3,063 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Martin Marietta Materials by 13.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,102 shares of the construction company’s stock worth $6,767,000 after acquiring an additional 1,555 shares during the period. Institutional investors own 95.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on MLM shares. Citigroup cut their price objective on Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating for the company in a report on Monday, January 6th. StockNews.com lowered Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. raised Martin Marietta Materials from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $515.00 to $640.00 in a report on Wednesday, November 27th. Loop Capital cut their price objective on Martin Marietta Materials from $680.00 to $645.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, Truist Financial cut their price target on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Martin Marietta Materials currently has an average rating of “Moderate Buy” and an average price target of $634.36.

Insider Activity at Martin Marietta Materials

In related news, EVP Donald A. Mccunniff sold 1,332 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was 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 represents a 27.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael J. Petro purchased 550 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average cost of $454.37 per share, with a total value of $249,903.50. Following the completion of the purchase, the senior vice president now owns 8,985 shares of the company’s stock, valued at $4,082,514.45. The trade was a 6.52 % increase in their position. The disclosure for this purchase can be found here. 0.68% of the stock is owned by corporate insiders.

Martin Marietta Materials Stock Performance

NYSE MLM opened at $467.37 on Tuesday. The firm has a market cap of $28.50 billion, a price-to-earnings ratio of 14.46, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average price of $517.81 and a 200-day moving average price of $542.72. Martin Marietta Materials, Inc. has a twelve month low of $448.50 and a twelve month high of $633.23.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, topping 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%. As a group, equities research analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Monday, March 3rd. Martin Marietta Materials’s 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.