SVB Wealth LLC Trims Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

SVB Wealth LLC decreased its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 26.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,033 shares of the construction company’s stock after selling 4,649 shares during the period. SVB Wealth LLC’s holdings in Martin Marietta Materials were worth $6,502,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. FMR LLC grew its stake in Martin Marietta Materials by 225.3% during the third quarter. FMR LLC now owns 1,833,959 shares of the construction company’s stock valued at $752,803,000 after acquiring an additional 1,270,116 shares in the last quarter. Norges Bank purchased a new position in Martin Marietta Materials during the fourth quarter valued at approximately $197,591,000. Morgan Stanley grew its stake in Martin Marietta Materials by 51.6% during the fourth quarter. Morgan Stanley now owns 737,821 shares of the construction company’s stock valued at $249,362,000 after acquiring an additional 251,047 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Martin Marietta Materials by 9.7% during the third quarter. JPMorgan Chase & Co. now owns 2,042,537 shares of the construction company’s stock valued at $838,421,000 after acquiring an additional 181,136 shares in the last quarter. Finally, Barclays PLC grew its stake in Martin Marietta Materials by 147.2% during the second quarter. Barclays PLC now owns 202,847 shares of the construction company’s stock valued at $93,651,000 after acquiring an additional 120,787 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Down 0.8 %

Shares of MLM opened at $594.59 on Wednesday. The firm has a market cap of $36.76 billion, a price-to-earnings ratio of 31.58, a PEG ratio of 2.93 and a beta of 0.96. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.50 and a current ratio of 3.35. Martin Marietta Materials, Inc. has a fifty-two week low of $343.79 and a fifty-two week high of $626.67. The firm has a 50 day moving average price of $582.21 and a 200-day moving average price of $506.31.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, February 14th. The construction company reported $4.63 earnings per share for the quarter, topping analysts’ consensus estimates of $3.96 by $0.67. Martin Marietta Materials had a net margin of 17.25% and a return on equity of 15.77%. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same period in the previous year, the business posted $3.04 EPS. The business’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, equities research analysts forecast that Martin Marietta Materials, Inc. will post 21.09 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 4th were issued a dividend of $0.74 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $2.96 dividend on an annualized basis and a yield of 0.50%. Martin Marietta Materials’s dividend payout ratio is currently 15.72%.

Analyst Ratings Changes

MLM has been the subject of several recent analyst reports. StockNews.com cut shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Stephens boosted their price target on shares of Martin Marietta Materials from $575.00 to $605.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. Raymond James boosted their price target on shares of Martin Marietta Materials from $505.00 to $555.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Truist Financial boosted their price target on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Finally, HSBC raised shares of Martin Marietta Materials from a “reduce” rating to a “hold” rating and boosted their price target for the stock from $376.00 to $543.00 in a research note on Thursday, February 22nd. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Martin Marietta Materials presently has an average rating of “Moderate Buy” and an average price target of $588.69.

Insider Activity at Martin Marietta Materials

In related news, Director Sue W. Cole sold 1,724 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $543.48, for a total transaction of $936,959.52. Following the completion of the sale, the director now directly owns 19,793 shares in the company, valued at approximately $10,757,099.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO C Howard Nye sold 15,000 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $604.26, for a total transaction of $9,063,900.00. Following the sale, the chief executive officer now directly owns 134,640 shares of the company’s stock, valued at approximately $81,357,566.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sue W. Cole sold 1,724 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $543.48, for a total transaction of $936,959.52. Following the transaction, the director now owns 19,793 shares in the company, valued at approximately $10,757,099.64. The disclosure for this sale can be found here. Insiders sold 26,724 shares of company stock worth $16,033,760 in the last three months. 0.59% of the stock is owned by 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.