BI Asset Management Fondsmaeglerselskab A S Sells 760 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

BI Asset Management Fondsmaeglerselskab A S reduced its stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 31.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,662 shares of the construction company's stock after selling 760 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Martin Marietta Materials were worth $858,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Proficio Capital Partners LLC grew its holdings in shares of Martin Marietta Materials by 54,277.3% in the fourth quarter. Proficio Capital Partners LLC now owns 918,432 shares of the construction company's stock worth $474,370,000 after purchasing an additional 916,743 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Martin Marietta Materials by 76.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company's stock worth $876,648,000 after acquiring an additional 704,460 shares during the last quarter. Norges Bank purchased a new position in shares of Martin Marietta Materials in the fourth quarter valued at about $306,863,000. JPMorgan Chase & Co. raised its stake in shares of Martin Marietta Materials by 23.3% during the third quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company's stock valued at $1,441,663,000 after acquiring an additional 506,705 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Martin Marietta Materials during the fourth quarter worth about $196,374,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MLM. Stephens reduced their price target on Martin Marietta Materials from $675.00 to $650.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. Seaport Res Ptn upgraded Martin Marietta Materials to a "strong-buy" rating in a report on Friday, March 21st. Stifel Nicolaus began coverage on Martin Marietta Materials in a research note on Tuesday, March 4th. They issued a "buy" rating and a $559.00 price target for the company. Wolfe Research upgraded shares of Martin Marietta Materials from a "peer perform" rating to an "outperform" rating and set a $563.00 price objective for the company in a report on Wednesday, January 8th. Finally, Truist Financial dropped their target price on shares of Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $599.38.

Martin Marietta Materials Stock Down 0.2 %

MLM traded down $0.94 during midday trading on Tuesday, reaching $501.97. The company's stock had a trading volume of 76,326 shares, compared to its average volume of 484,864. The stock's 50-day moving average is $483.08 and its 200-day moving average is $531.26. Martin Marietta Materials, Inc. has a 1 year low of $441.95 and a 1 year high of $633.23. The firm has a market capitalization of $30.42 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 4.45 and a beta of 0.81. 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 - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share 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%. As a group, research analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were issued a dividend of $0.79 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $3.16 annualized dividend and a dividend yield of 0.63%. Martin Marietta Materials's payout ratio is presently 9.77%.

Insider Transactions at Martin Marietta Materials

In other Martin Marietta Materials news, EVP Donald A. Mccunniff sold 1,332 shares of Martin Marietta Materials 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 completion of the transaction, the executive vice president now directly owns 3,523 shares of the company's stock, valued at approximately $1,673,425. The trade was a 27.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael J. Petro bought 550 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average price 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 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. 0.68% of the stock is owned by insiders.

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.