Voya Investment Management LLC Reduces Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Voya Investment Management LLC cut its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 7.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,965 shares of the construction company’s stock after selling 1,489 shares during the quarter. Voya Investment Management LLC’s holdings in Martin Marietta Materials were worth $9,795,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Checchi Capital Advisers LLC increased its holdings in Martin Marietta Materials by 1.4% during the 4th quarter. Checchi Capital Advisers LLC now owns 1,336 shares of the construction company’s stock worth $690,000 after purchasing an additional 19 shares during the last quarter. OneDigital Investment Advisors LLC increased its holdings in Martin Marietta Materials by 1.9% during the 4th quarter. OneDigital Investment Advisors LLC now owns 1,020 shares of the construction company’s stock worth $527,000 after purchasing an additional 19 shares during the last quarter. Brooklyn Investment Group increased its holdings in shares of Martin Marietta Materials by 4.7% in the 4th quarter. Brooklyn Investment Group now owns 447 shares of the construction company’s stock valued at $231,000 after acquiring an additional 20 shares during the last quarter. OLD National Bancorp IN increased its holdings in shares of Martin Marietta Materials by 4.5% in the 4th quarter. OLD National Bancorp IN now owns 483 shares of the construction company’s stock valued at $249,000 after acquiring an additional 21 shares during the last quarter. Finally, Signaturefd LLC increased its holdings in shares of Martin Marietta Materials by 2.6% in the 4th quarter. Signaturefd LLC now owns 835 shares of the construction company’s stock valued at $431,000 after acquiring an additional 21 shares during the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MLM has been the subject of a number of research analyst reports. Truist Financial lowered their price target on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Wolfe Research upgraded Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price target for the company in a report on Wednesday, January 8th. Raymond James lowered their price target on Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. UBS Group downgraded Martin Marietta Materials from a “buy” rating to a “neutral” rating and set a $491.00 price target for the company. in a report on Monday, April 7th. Finally, Stifel Nicolaus began coverage on Martin Marietta Materials in a report on Tuesday, March 4th. They issued a “buy” rating and a $559.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $599.62.

Martin Marietta Materials Stock Down 0.3 %

MLM stock opened at $502.89 on Tuesday. Martin Marietta Materials, Inc. has a 52 week low of $441.95 and a 52 week high of $633.23. The company has a market capitalization of $30.48 billion, a price-to-earnings ratio of 15.55, a price-to-earnings-growth ratio of 4.45 and a beta of 0.81. The firm’s 50-day moving average is $483.08 and its two-hundred day moving average is $531.26. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, topping 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%. On average, analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were given a dividend of $0.79 per share. The ex-dividend date was Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.63%. Martin Marietta Materials’s dividend payout ratio (DPR) is 9.77%.

Insiders Place Their Bets

In other Martin Marietta Materials news, SVP Michael J. Petro acquired 550 shares of the stock in a transaction dated Tuesday, March 4th. The shares were bought at an average price of $454.37 per share, with a total value of $249,903.50. Following the purchase, the senior vice president now directly owns 8,985 shares of the company’s stock, valued at approximately $4,082,514.45. This trade represents a 6.52 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Donald A. Mccunniff sold 1,332 shares of Martin Marietta Materials stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total transaction of $632,700.00. Following the completion of the transaction, the executive vice president now directly owns 3,523 shares in the company, valued at $1,673,425. This represents a 27.44 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is owned by 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.