Metis Global Partners LLC Sells 56 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Metis Global Partners LLC lowered its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 2.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,521 shares of the construction company’s stock after selling 56 shares during the period. Metis Global Partners LLC’s holdings in Martin Marietta Materials were worth $1,258,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of MLM. Pinnacle Bancorp Inc. purchased a new stake in Martin Marietta Materials in the fourth quarter valued at about $26,000. MV Capital Management Inc. raised its position in Martin Marietta Materials by 144.4% during the third quarter. MV Capital Management Inc. now owns 66 shares of the construction company’s stock valued at $27,000 after acquiring an additional 39 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in Martin Marietta Materials in the fourth quarter valued at approximately $27,000. Benjamin Edwards Inc. lifted its holdings in Martin Marietta Materials by 78.8% in the fourth quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock valued at $29,000 after acquiring an additional 26 shares during the period. Finally, Covestor Ltd boosted its position in Martin Marietta Materials by 84.6% in the 3rd quarter. Covestor Ltd now owns 72 shares of the construction company’s stock worth $30,000 after purchasing an additional 33 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Insider Buying and Selling

In other Martin Marietta Materials news, CEO C Howard Nye sold 15,000 shares of the company’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 directly owns 134,640 shares in the company, valued at approximately $81,357,566.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Martin Marietta Materials news, EVP Roselyn R. Bar sold 10,000 shares of Martin Marietta Materials stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $603.29, for a total value of $6,032,900.00. Following the sale, 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 Securities & Exchange Commission, which is available through the SEC website. Also, CEO C Howard Nye sold 15,000 shares of the 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 transaction, the chief executive officer now owns 134,640 shares of the company’s stock, valued at $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. 0.68% of the stock is owned by corporate insiders.

Martin Marietta Materials Price Performance

Martin Marietta Materials stock opened at $596.64 on Thursday. The company has a fifty day simple moving average of $600.80 and a 200-day simple moving average of $526.10. The firm has a market capitalization of $36.78 billion, a price-to-earnings ratio of 17.68, a PEG ratio of 2.80 and a beta of 0.95. The company has a quick ratio of 2.41, a current ratio of 3.16 and a debt-to-equity ratio of 0.44. Martin Marietta Materials, Inc. has a 52-week low of $389.90 and a 52-week high of $626.67.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.05. The firm 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 quarterly revenue was down 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.16 earnings per share. On average, equities analysts anticipate that Martin Marietta Materials, Inc. will post 21.7 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 4th were issued a $0.74 dividend. The ex-dividend date was Friday, March 1st. This represents a $2.96 annualized dividend and a dividend yield of 0.50%. Martin Marietta Materials’s dividend payout ratio is presently 8.77%.

Wall Street Analyst Weigh In

MLM has been the topic of a number of recent analyst reports. Truist Financial increased their price target on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. The Goldman Sachs Group increased their price target on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $600.00 price target (up from $530.00) on shares of Martin Marietta Materials in a report on Friday, March 22nd. Stephens increased their price target on shares of Martin Marietta Materials from $575.00 to $605.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Finally, HSBC upgraded Martin Marietta Materials from a “reduce” rating to a “hold” rating and boosted their price objective for the company from $376.00 to $543.00 in a research report on Thursday, February 22nd. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $598.17.

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.