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

Confluence Investment Management LLC cut its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 0.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,468 shares of the construction company’s stock after selling 200 shares during the quarter. Confluence Investment Management LLC owned 0.10% of Martin Marietta Materials worth $29,868,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Checchi Capital Advisers LLC boosted its stake in shares of Martin Marietta Materials by 1.4% in the fourth quarter. Checchi Capital Advisers LLC now owns 1,336 shares of the construction company’s stock valued at $690,000 after purchasing an additional 19 shares during the period. OneDigital Investment Advisors LLC boosted its stake in shares of Martin Marietta Materials by 1.9% in the fourth quarter. OneDigital Investment Advisors LLC now owns 1,020 shares of the construction company’s stock valued at $527,000 after purchasing an additional 19 shares during the period. OLD National Bancorp IN boosted its stake in shares of Martin Marietta Materials by 4.5% in the fourth quarter. OLD National Bancorp IN now owns 483 shares of the construction company’s stock valued at $249,000 after purchasing an additional 21 shares during the period. Signaturefd LLC boosted its stake in Martin Marietta Materials by 2.6% during 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. Finally, Tokio Marine Asset Management Co. Ltd. boosted its stake in Martin Marietta Materials by 1.2% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,873 shares of the construction company’s stock valued at $967,000 after acquiring an additional 23 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

A number of research analysts have commented on the stock. Seaport Res Ptn upgraded shares of Martin Marietta Materials to a “strong-buy” rating in a research note on Friday, March 21st. Truist Financial reduced their price objective on shares of 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. Raymond James reduced their price objective on shares of Martin Marietta Materials from $600.00 to $597.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 29th. JPMorgan Chase & Co. downgraded shares of Martin Marietta Materials from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $640.00 to $560.00 in a research note on Wednesday, March 19th. Finally, Stifel Nicolaus increased their price objective on shares of Martin Marietta Materials from $559.00 to $609.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $610.69.

Martin Marietta Materials Trading Down 2.9%

Martin Marietta Materials stock opened at $550.80 on Thursday. The firm’s 50-day moving average is $512.93 and its 200-day moving average is $526.69. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50. Martin Marietta Materials, Inc. has a 1 year low of $441.95 and a 1 year high of $633.23. The company has a market cap of $33.20 billion, a P/E ratio of 17.04, a PEG ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Wednesday, April 30th. The construction company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.02. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter last year, the company earned $1.93 EPS. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be issued a $0.79 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.57%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 18.20%.

Insider Buying and Selling

In related news, EVP Donald A. Mccunniff sold 1,332 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total value of $632,700.00. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael J. Petro bought 550 shares of the stock in a transaction on Tuesday, March 4th. The shares were bought at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the purchase, the senior vice president now owns 8,985 shares in the company, valued at $4,082,514.45. This trade represents a 6.52% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.69% of the company’s stock.

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.