Martin Marietta Materials, Inc. (NYSE:MLM) CFO Anne H. Lloyd sold 6,472 shares of Martin Marietta Materials stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $238.73, for a total transaction of $1,545,060.56. Following the transaction, the chief financial officer now directly owns 69,941 shares in the company, valued at $16,697,014.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Tuesday, May 2nd. The construction company reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.05. Martin Marietta Materials had a return on equity of 9.95% and a net margin of 11.03%. The company had revenue of $791.70 million for the quarter, compared to the consensus estimate of $729.28 million. During the same quarter in the previous year, the business earned $0.69 earnings per share. The company’s revenue for the quarter was up 7.9% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 1st will be given a $0.42 dividend. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $1.68 dividend on an annualized basis and a yield of 0.73%. Martin Marietta Materials’s dividend payout ratio is currently 26.50%.
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Several research analysts have commented on the stock. Stephens lifted their price target on shares of Martin Marietta Materials from $246.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 4th. Stifel Nicolaus raised their target price on shares of Martin Marietta Materials from $258.00 to $265.00 and gave the stock a “buy” rating in a report on Wednesday, May 3rd. Zacks Investment Research upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Monday, May 1st. Cleveland Research upgraded shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating in a report on Friday, March 31st. Finally, Citigroup Inc started coverage on shares of Martin Marietta Materials in a report on Wednesday, March 29th. They issued a “buy” rating and a $245.00 target price on the stock. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Martin Marietta Materials currently has a consensus rating of “Hold” and a consensus price target of $228.13.
A number of large investors have recently bought and sold shares of the stock. FineMark National Bank & Trust increased its stake in Martin Marietta Materials by 96.8% in the third quarter. FineMark National Bank & Trust now owns 610 shares of the construction company’s stock worth $109,000 after buying an additional 300 shares in the last quarter. First Personal Financial Services increased its stake in Martin Marietta Materials by 4.5% in the first quarter. First Personal Financial Services now owns 513 shares of the construction company’s stock worth $112,000 after buying an additional 22 shares in the last quarter. FNY Partners Fund LP acquired a new stake in Martin Marietta Materials during the first quarter worth approximately $174,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in Martin Marietta Materials during the fourth quarter worth approximately $177,000. Finally, Sunbelt Securities Inc. purchased a new stake in Martin Marietta Materials during the fourth quarter valued at about $197,000. Institutional investors own 97.26% of the company’s stock.
About Martin Marietta Materials
Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.
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