Nuveen Asset Management LLC Has $69.29 Million Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Nuveen Asset Management LLC raised its stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 4.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 134,156 shares of the construction company's stock after buying an additional 5,402 shares during the period. Nuveen Asset Management LLC owned approximately 0.22% of Martin Marietta Materials worth $69,292,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Martin Marietta Materials by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 7,174,183 shares of the construction company's stock valued at $3,705,466,000 after buying an additional 36,531 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Martin Marietta Materials by 23.3% in 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 buying an additional 506,705 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Martin Marietta Materials by 11.7% in the fourth quarter. Principal Financial Group Inc. now owns 1,819,744 shares of the construction company's stock valued at $939,898,000 after buying an additional 191,043 shares in the last quarter. Amundi increased its holdings in shares of Martin Marietta Materials by 10.5% in the fourth quarter. Amundi now owns 1,562,146 shares of the construction company's stock valued at $808,005,000 after buying an additional 148,065 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Martin Marietta Materials by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 1,472,411 shares of the construction company's stock valued at $758,499,000 after buying an additional 32,082 shares in the last quarter. Institutional investors own 95.04% of the company's stock.

Insider Buying and Selling

In other Martin Marietta Materials news, EVP Donald A. Mccunniff sold 1,332 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total value of $632,700.00. Following the completion of the sale, the executive vice president now owns 3,523 shares of the company's stock, valued at $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 available at this hyperlink. Also, SVP Michael J. Petro purchased 550 shares of Martin Marietta Materials stock in a transaction 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 transaction, 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 ownership of the stock. The disclosure for this purchase can be found here. 0.69% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. UBS Group upgraded Martin Marietta Materials from a "neutral" rating to a "buy" rating and increased their target price for the company from $548.00 to $634.00 in a report on Friday, May 16th. Morgan Stanley increased their target price on Martin Marietta Materials from $561.00 to $576.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Raymond James reduced their target price on Martin Marietta Materials from $600.00 to $597.00 and set an "outperform" rating for the company in a report on Tuesday, April 29th. Seaport Res Ptn upgraded Martin Marietta Materials to a "strong-buy" rating in a report on Friday, March 21st. Finally, Barclays reduced their target price on Martin Marietta Materials from $645.00 to $600.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Martin Marietta Materials currently has an average rating of "Moderate Buy" and a consensus target price of $610.69.

Martin Marietta Materials Stock Down 0.5%

Shares of NYSE:MLM traded down $2.93 during midday trading on Friday, hitting $561.76. 362,949 shares of the stock were exchanged, compared to its average volume of 485,951. 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 52-week low of $441.95 and a 52-week high of $633.23. The business's fifty day simple moving average is $506.90 and its two-hundred day simple moving average is $528.04. The company has a market capitalization of $33.87 billion, a PE ratio of 17.38, a P/E/G ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings data 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 return on equity of 12.11% and a net margin of 30.54%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period last year, the company earned $1.93 earnings per share. Martin Marietta Materials's quarterly revenue was up 8.2% compared to the same quarter last year. As a group, research analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal 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 dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $3.16 annualized dividend and a dividend yield of 0.56%. Martin Marietta Materials's dividend payout ratio is 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.