Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC trimmed its stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 89.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 653 shares of the construction company's stock after selling 5,812 shares during the period. Cresset Asset Management LLC's holdings in Martin Marietta Materials were worth $337,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Checchi Capital Advisers LLC raised 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 acquiring an additional 19 shares during the period. OneDigital Investment Advisors LLC boosted 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 valued at $527,000 after acquiring an additional 19 shares during the period. Brooklyn Investment Group increased its stake in Martin Marietta Materials by 4.7% in the fourth quarter. Brooklyn Investment Group now owns 447 shares of the construction company's stock worth $231,000 after purchasing an additional 20 shares during the period. OLD National Bancorp IN lifted its position in shares of Martin Marietta Materials by 4.5% during the fourth quarter. OLD National Bancorp IN now owns 483 shares of the construction company's stock worth $249,000 after purchasing an additional 21 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in shares of Martin Marietta Materials by 2.6% during the fourth quarter. Signaturefd LLC now owns 835 shares of the construction company's stock valued at $431,000 after purchasing an additional 21 shares during the period. Institutional investors own 95.04% of the company's stock.

Insider Transactions at Martin Marietta Materials

In other news, SVP Michael J. Petro purchased 550 shares of the stock in a transaction dated Tuesday, March 4th. The shares were purchased 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 directly owns 8,985 shares of the company's stock, valued at approximately $4,082,514.45. The trade was a 6.52% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Donald A. Mccunniff sold 1,332 shares of the firm's stock in a transaction 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 completion of the transaction, the executive vice president now owns 3,523 shares in the company, valued at $1,673,425. The trade was a 27.44% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.69% of the company's stock.

Analyst Upgrades and Downgrades

MLM has been the topic of several research reports. Loop Capital reduced their price objective on Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Barclays cut their target price on shares of Martin Marietta Materials from $645.00 to $600.00 and set an "overweight" rating on the stock in a research report on Thursday, February 13th. UBS Group upgraded shares of Martin Marietta Materials from a "neutral" rating to a "buy" rating and increased their price objective for the company from $548.00 to $634.00 in a research note on Friday, May 16th. Stifel Nicolaus lifted their target price on Martin Marietta Materials from $559.00 to $609.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Raymond James cut their price target on shares of Martin Marietta Materials from $600.00 to $597.00 and set an "outperform" rating on the stock in a report on Tuesday, April 29th. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $610.69.

Martin Marietta Materials Stock Performance

MLM stock traded up $0.86 during midday trading on Thursday, hitting $560.90. 90,117 shares of the stock traded hands, compared to its average volume of 484,452. 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 stock's fifty day simple moving average is $505.40 and its 200-day simple moving average is $528.16. The firm has a market cap of $33.81 billion, a P/E ratio of 17.34, a PEG ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its earnings results on Wednesday, April 30th. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $1.36 billion. During the same period in the prior year, the company posted $1.93 EPS. The company's revenue for the quarter was up 8.2% on a year-over-year basis. On average, analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend is Monday, June 2nd. Martin Marietta Materials's dividend payout ratio (DPR) is presently 18.20%.

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.