Dorsey & Whitney Trust CO LLC Cuts Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Dorsey & Whitney Trust CO LLC lessened its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 25.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 422 shares of the construction company’s stock after selling 144 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Martin Marietta Materials were worth $218,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MLM. Principal Financial Group Inc. grew its holdings in 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 valued at $876,648,000 after buying an additional 704,460 shares in the last quarter. Mesirow Financial Investment Management Inc. grew its holdings in Martin Marietta Materials by 8.1% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 615 shares of the construction company’s stock valued at $331,000 after buying an additional 46 shares in the last quarter. Versor Investments LP purchased a new position in Martin Marietta Materials during the 3rd quarter valued at approximately $269,000. Patron Partners LLC lifted its stake in shares of Martin Marietta Materials by 8.1% in the 3rd quarter. Patron Partners LLC now owns 535 shares of the construction company’s stock valued at $288,000 after purchasing an additional 40 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Martin Marietta Materials by 1.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 136,970 shares of the construction company’s stock valued at $73,724,000 after purchasing an additional 2,066 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Insider Buying and Selling at Martin Marietta Materials

In related news, SVP Michael J. Petro purchased 550 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the acquisition, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Donald A. Mccunniff sold 1,332 shares of Martin Marietta Materials stock in a transaction on 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 in the company, valued at $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.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MLM. Loop Capital lowered their price objective on Martin Marietta Materials from $680.00 to $645.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Wolfe Research raised 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 note on Wednesday, January 8th. Truist Financial lowered their price objective on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Stifel Nicolaus began coverage on Martin Marietta Materials in a research note on Tuesday, March 4th. They issued a “buy” rating and a $559.00 price objective for the company. Finally, Hsbc Global Res raised Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $634.36.

Martin Marietta Materials Trading Down 0.8 %

Shares of NYSE MLM opened at $464.59 on Wednesday. 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 fifty day simple moving average of $516.77 and a two-hundred day simple moving average of $542.07. The firm has a market cap of $28.33 billion, a PE ratio of 14.37, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. 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 issued its earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share 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%. Analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently announced 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 yield of 0.68%. The ex-dividend date of this dividend is Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.77%.

About Martin Marietta Materials

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.