Nuveen Asset Management LLC Grows Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Nuveen Asset Management LLC raised its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 4.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 0.22% of Martin Marietta Materials worth $69,292,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Lee Danner & Bass Inc. bought a new stake in Martin Marietta Materials in the 4th quarter worth about $28,000. Whipplewood Advisors LLC purchased a new stake in shares of Martin Marietta Materials in the 4th quarter valued at $32,000. Kestra Investment Management LLC purchased a new position in Martin Marietta Materials in the 4th quarter valued at about $35,000. Hopwood Financial Services Inc. acquired a new stake in Martin Marietta Materials during the fourth quarter worth about $36,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Martin Marietta Materials by 91.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company's stock valued at $37,000 after buying an additional 34 shares in the last quarter. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Stock Down 0.6%

NYSE MLM traded down $3.31 during trading hours on Wednesday, hitting $560.31. The company had a trading volume of 622,551 shares, compared to its average volume of 485,633. The firm's 50 day moving average is $505.40 and its 200 day moving average is $528.16. The company has a market capitalization of $33.78 billion, a price-to-earnings ratio of 17.33, a P/E/G ratio of 4.45 and a beta of 0.89. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The construction company reported $1.90 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the business earned $1.93 EPS. The firm's revenue was up 8.2% on a year-over-year basis. Sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company 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 dividend of $0.79 per share. The ex-dividend date is Monday, June 2nd. This represents a $3.16 annualized dividend and a dividend yield of 0.56%. Martin Marietta Materials's payout ratio is 18.20%.

Analyst Ratings Changes

MLM has been the topic of several recent analyst reports. UBS Group upgraded shares of Martin Marietta Materials from a "neutral" rating to a "buy" rating and upped their target price for the stock from $548.00 to $634.00 in a research report on Friday, May 16th. Loop Capital decreased their target price on Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Seaport Res Ptn raised Martin Marietta Materials to a "strong-buy" rating in a research note on Friday, March 21st. Barclays decreased 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. Finally, Raymond James lowered 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. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $610.69.

Insider Activity

In related news, EVP Donald A. Mccunniff sold 1,332 shares of the company's stock in a transaction on 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 transaction, the executive vice president now directly owns 3,523 shares in the company, valued at approximately $1,673,425. This represents a 27.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Michael J. Petro bought 550 shares of Martin Marietta Materials stock in a transaction on 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 in the company, valued at $4,082,514.45. This trade represents a 6.52% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.69% of the company's stock.

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.