Atalanta Sosnoff Capital LLC Has $26.25 Million Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Atalanta Sosnoff Capital LLC lowered its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 3.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 50,820 shares of the construction company's stock after selling 1,668 shares during the period. Atalanta Sosnoff Capital LLC owned about 0.08% of Martin Marietta Materials worth $26,248,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MLM. DoubleLine ETF Adviser LP purchased a new stake in shares of Martin Marietta Materials in the fourth quarter worth about $3,520,000. Wahed Invest LLC increased its stake in shares of Martin Marietta Materials by 5.4% during the fourth quarter. Wahed Invest LLC now owns 1,568 shares of the construction company's stock valued at $810,000 after buying an additional 81 shares during the period. Westbourne Investments Inc. purchased a new position in shares of Martin Marietta Materials during the fourth quarter valued at about $2,474,000. Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Martin Marietta Materials during the fourth quarter valued at approximately $37,704,000. Finally, Bridgewealth Advisory Group LLC bought a new stake in Martin Marietta Materials during the fourth quarter worth about $639,000. Institutional investors and hedge funds own 95.04% of the company's stock.

Insiders Place Their Bets

In related 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 sale, the executive vice president now directly owns 3,523 shares in the company, valued at $1,673,425. This trade represents a 27.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Michael J. Petro bought 550 shares of Martin Marietta Materials stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average cost of $454.37 per share, with a total value of $249,903.50. Following the completion of the purchase, the senior vice president now owns 8,985 shares in the company, valued at approximately $4,082,514.45. This trade 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.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. UBS Group cut shares of Martin Marietta Materials from a "buy" rating to a "neutral" rating and set a $491.00 price objective for the company. in a report on Monday, April 7th. Stifel Nicolaus boosted their target price on shares of Martin Marietta Materials from $559.00 to $609.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Barclays reduced their target price on Martin Marietta Materials from $645.00 to $600.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. Loop Capital decreased their price objective on Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Finally, StockNews.com upgraded Martin Marietta Materials from a "sell" rating to a "hold" rating in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Martin Marietta Materials currently has an average rating of "Moderate Buy" and a consensus price target of $599.69.

Martin Marietta Materials Stock Up 1.6 %

Martin Marietta Materials stock traded up $8.74 during midday trading on Thursday, hitting $543.20. 122,378 shares of the stock were exchanged, compared to its average volume of 483,820. Martin Marietta Materials, Inc. has a 1 year low of $441.95 and a 1 year high of $633.23. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. The firm has a market cap of $32.75 billion, a P/E ratio of 16.80, a P/E/G ratio of 4.45 and a beta of 0.89. The company has a 50 day moving average price of $488.47 and a two-hundred day moving average price of $529.87.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its earnings results 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 company had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.36 billion. During the same period in the prior year, the company earned $1.93 earnings per share. The firm's revenue was up 8.2% compared to the same quarter last year. On average, sell-side analysts predict 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 disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Monday, March 3rd. Martin Marietta Materials's payout ratio is presently 18.20%.

About Martin Marietta Materials

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.