OLD National Bancorp IN Lowers Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

OLD National Bancorp IN reduced its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 12.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 816 shares of the construction company’s stock after selling 115 shares during the quarter. OLD National Bancorp IN’s holdings in Martin Marietta Materials were worth $407,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Schear Investment Advisers LLC raised its stake in Martin Marietta Materials by 1.2% in the fourth quarter. Schear Investment Advisers LLC now owns 1,647 shares of the construction company’s stock valued at $822,000 after purchasing an additional 20 shares in the last quarter. Independence Bank of Kentucky raised its stake in Martin Marietta Materials by 16.9% in the fourth quarter. Independence Bank of Kentucky now owns 152 shares of the construction company’s stock valued at $76,000 after purchasing an additional 22 shares in the last quarter. Global Retirement Partners LLC raised its stake in Martin Marietta Materials by 5.0% in the fourth quarter. Global Retirement Partners LLC now owns 460 shares of the construction company’s stock valued at $228,000 after purchasing an additional 22 shares in the last quarter. Spreng Capital Management Inc. raised its stake in Martin Marietta Materials by 3.1% in the fourth quarter. Spreng Capital Management Inc. now owns 775 shares of the construction company’s stock valued at $387,000 after purchasing an additional 23 shares in the last quarter. Finally, Park Place Capital Corp raised its stake in Martin Marietta Materials by 11.3% in the fourth quarter. Park Place Capital Corp now owns 247 shares of the construction company’s stock valued at $123,000 after purchasing an additional 25 shares in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Down 0.4 %

Shares of Martin Marietta Materials stock opened at $591.82 on Thursday. The company’s 50 day moving average price is $590.82 and its 200-day moving average price is $514.16. Martin Marietta Materials, Inc. has a 52-week low of $343.79 and a 52-week high of $626.67. The stock has a market capitalization of $36.53 billion, a price-to-earnings ratio of 31.43, a P/E/G ratio of 2.88 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 (NYSE:MLM) last announced its quarterly earnings results on Wednesday, February 14th. The construction company reported $4.63 EPS for the quarter, topping analysts’ consensus estimates of $3.96 by $0.67. Martin Marietta Materials had a return on equity of 15.77% and a net margin of 17.25%. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same quarter last year, the firm posted $3.04 earnings per share. The firm’s revenue was up 8.9% on a year-over-year basis. Equities research analysts forecast that Martin Marietta Materials, Inc. will post 21.24 EPS for the current year.

Martin Marietta Materials Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Morgan Stanley assumed coverage on shares of Martin Marietta Materials in a research report on Monday, January 8th. They set an “overweight” rating and a $595.00 price target on the stock. Stephens increased their price target on shares of Martin Marietta Materials from $575.00 to $605.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. StockNews.com cut shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Raymond James increased their price target on shares of Martin Marietta Materials from $505.00 to $555.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Finally, Stifel Nicolaus increased their price target on shares of Martin Marietta Materials from $621.00 to $650.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Martin Marietta Materials has a consensus rating of “Moderate Buy” and a consensus price target of $588.69.

Insider Buying and Selling

In related news, CEO C Howard Nye sold 15,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $604.26, for a total value of $9,063,900.00. Following the completion of the sale, the chief executive officer now owns 134,640 shares of the company’s stock, valued at $81,357,566.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 completion of the transaction, the executive vice president now owns 59,970 shares of the company’s stock, valued at $36,179,301.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO C Howard Nye sold 15,000 shares of Martin Marietta Materials stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $604.26, for a total value of $9,063,900.00. Following the completion of the transaction, the chief executive officer now directly owns 134,640 shares of the company’s stock, valued at approximately $81,357,566.40. The disclosure for this sale can be found here. Insiders sold 26,724 shares of company stock valued at $16,033,760 over the last quarter. 0.61% of the stock is owned by company 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.