Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Penn Capital Management Company LLC

Penn Capital Management Company LLC cut its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 33.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 405 shares of the construction company’s stock after selling 202 shares during the quarter. Penn Capital Management Company LLC’s holdings in Martin Marietta Materials were worth $209,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Lee Danner & Bass Inc. acquired a new position in shares of Martin Marietta Materials during the 4th quarter worth $28,000. Whipplewood Advisors LLC purchased a new position in Martin Marietta Materials in the fourth quarter valued at about $32,000. Kestra Investment Management LLC acquired a new stake in shares of Martin Marietta Materials during the 4th quarter valued at approximately $35,000. Hopwood Financial Services Inc. acquired a new stake in shares of Martin Marietta Materials in the 4th quarter worth approximately $36,000. Finally, EverSource Wealth Advisors LLC increased its stake in Martin Marietta Materials by 91.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company’s stock valued at $37,000 after purchasing an additional 34 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Stock Up 2.3 %

Shares of NYSE MLM opened at $509.87 on Friday. The stock has a market capitalization of $30.90 billion, a PE ratio of 15.77, a P/E/G ratio of 4.45 and a beta of 0.81. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56. The firm has a fifty day moving average of $484.04 and a 200-day moving average of $531.70. Martin Marietta Materials, Inc. has a 52-week low of $441.95 and a 52-week high of $633.23.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, topping the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. On average, analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date was Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio is presently 9.77%.

Insider Activity

In other Martin Marietta Materials news, 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 owns 3,523 shares of the company’s stock, valued at $1,673,425. This trade represents a 27.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael J. Petro bought 550 shares of Martin Marietta Materials stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the completion of the transaction, the senior vice president now owns 8,985 shares of the company’s stock, valued at approximately $4,082,514.45. This represents a 6.52 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.68% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on MLM shares. Stifel Nicolaus started coverage on Martin Marietta Materials in a report on Tuesday, March 4th. They issued a “buy” rating and a $559.00 target price on the stock. Barclays dropped their target price on shares of Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Loop Capital reduced their price target on shares of Martin Marietta Materials from $645.00 to $615.00 and set a “buy” rating on the stock in a report on Tuesday, April 1st. JPMorgan Chase & Co. cut shares of Martin Marietta Materials from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $640.00 to $560.00 in a research note on Wednesday, March 19th. Finally, Truist Financial reduced their target price on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Martin Marietta Materials has an average rating of “Moderate Buy” and an average target price of $599.62.

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.