Martin Marietta Materials, Inc. (NYSE:MLM - Get Free Report) EVP Donald A. Mccunniff sold 1,332 shares of the stock in a transaction that occurred 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 sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Martin Marietta Materials Stock Performance
Shares of Martin Marietta Materials stock opened at $476.02 on Friday. The stock has a market capitalization of $29.02 billion, a price-to-earnings ratio of 14.72, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. The business has a 50-day moving average of $520.23 and a 200 day moving average of $543.69. Martin Marietta Materials, Inc. has a 12 month low of $451.09 and a 12 month high of $633.23.
Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings data 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 net margin of 30.54% and a return on equity of 12.11%. As a group, sell-side analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.
Martin Marietta Materials Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Monday, March 3rd. Martin Marietta Materials's payout ratio is currently 9.77%.
Analyst Ratings Changes
MLM has been the subject of a number of recent research reports. Raymond James cut their target price on Martin Marietta Materials from $630.00 to $600.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. Stephens cut their price objective on shares of Martin Marietta Materials from $675.00 to $650.00 and set an "overweight" rating for the company in a research report on Thursday, February 13th. Truist Financial decreased their target price on shares of Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. UBS Group started coverage on shares of Martin Marietta Materials in a report on Thursday, November 7th. They set a "buy" rating and a $730.00 price target for the company. Finally, Barclays decreased their price objective on Martin Marietta Materials from $645.00 to $600.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $634.36.
Check Out Our Latest Stock Analysis on Martin Marietta Materials
Institutional Investors Weigh In On Martin Marietta Materials
Several large investors have recently bought and sold shares of MLM. Lee Danner & Bass Inc. acquired a new position in shares of Martin Marietta Materials during the fourth quarter worth about $28,000. Whipplewood Advisors LLC purchased a new stake in shares of Martin Marietta Materials in the 4th quarter valued at approximately $32,000. First Personal Financial Services acquired a new stake in shares of Martin Marietta Materials in the 3rd quarter valued at $33,000. Kestra Investment Management LLC purchased a new stake in shares of Martin Marietta Materials during the 4th quarter worth $35,000. Finally, Hopwood Financial Services Inc. purchased a new stake in shares of Martin Marietta Materials during the 4th quarter worth $36,000. Hedge funds and other institutional investors own 95.04% of the company's stock.
Martin Marietta Materials Company Profile
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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.
Further Reading
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