Cullen Frost Bankers Inc. Sells 30 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Cullen Frost Bankers Inc. trimmed its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,365 shares of the construction company’s stock after selling 30 shares during the period. Cullen Frost Bankers Inc.’s holdings in Martin Marietta Materials were worth $681,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of MLM. Amalgamated Bank increased its position in shares of Martin Marietta Materials by 2.5% during the 3rd quarter. Amalgamated Bank now owns 16,460 shares of the construction company’s stock worth $6,757,000 after purchasing an additional 397 shares during the last quarter. Simplicity Solutions LLC increased its stake in shares of Martin Marietta Materials by 166.1% during the 4th quarter. Simplicity Solutions LLC now owns 2,725 shares of the construction company’s stock worth $1,360,000 after purchasing an additional 1,701 shares during the last quarter. Hudson Bay Capital Management LP acquired a new stake in Martin Marietta Materials in the 3rd quarter valued at about $3,284,000. Everpar Advisors LLC bought a new position in Martin Marietta Materials during the fourth quarter worth about $1,203,000. Finally, Cerity Partners LLC increased its position in Martin Marietta Materials by 199.8% during the fourth quarter. Cerity Partners LLC now owns 4,791 shares of the construction company’s stock worth $2,390,000 after buying an additional 3,193 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $603.20 on Friday. The business’s 50-day moving average price is $601.31 and its 200-day moving average price is $526.64. The firm has a market capitalization of $37.18 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 2.80 and a beta of 0.95. Martin Marietta Materials, Inc. has a 12 month low of $389.90 and a 12 month high of $626.67. The company has a current ratio of 3.16, a quick ratio of 2.41 and a debt-to-equity ratio of 0.44.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.05. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.31 billion. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. Martin Marietta Materials’s revenue was down 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.16 earnings per share. Equities research analysts forecast that Martin Marietta Materials, Inc. will post 21.7 EPS for the current year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 4th were issued a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Friday, March 1st. Martin Marietta Materials’s dividend payout ratio is currently 8.77%.

Insiders Place Their Bets

In other Martin Marietta Materials news, EVP Roselyn R. Bar sold 10,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $603.29, for a total transaction of $6,032,900.00. Following the transaction, the executive vice president now directly owns 59,970 shares in the company, valued at approximately $36,179,301.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Roselyn R. Bar sold 10,000 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $603.29, for a total transaction of $6,032,900.00. Following the completion of the transaction, the executive vice president now owns 59,970 shares in the company, valued at $36,179,301.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO C Howard Nye sold 15,000 shares of Martin Marietta Materials stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $604.26, for a total transaction of $9,063,900.00. Following the completion of the sale, the chief executive officer now directly owns 134,640 shares in the company, valued at approximately $81,357,566.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,724 shares of company stock worth $16,033,760. Insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

MLM has been the topic of a number of research analyst reports. Stephens increased their price target on Martin Marietta Materials from $575.00 to $605.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. StockNews.com lowered shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a research note on Thursday. Stifel Nicolaus raised their price objective on shares of Martin Marietta Materials from $621.00 to $650.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Raymond James increased their target price on Martin Marietta Materials from $505.00 to $555.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Finally, HSBC raised Martin Marietta Materials from a “reduce” rating to a “hold” rating and upped their price objective for the company from $376.00 to $543.00 in a report on Thursday, February 22nd. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Martin Marietta Materials has an average rating of “Moderate Buy” and an average price target of $598.17.

Martin Marietta Materials Company 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.