FORA Capital LLC Sells 8,795 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

FORA Capital LLC trimmed its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 77.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,591 shares of the construction company's stock after selling 8,795 shares during the quarter. FORA Capital LLC's holdings in Martin Marietta Materials were worth $1,338,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Deutsche Bank AG raised its stake in Martin Marietta Materials by 24.1% during the 4th quarter. Deutsche Bank AG now owns 218,110 shares of the construction company's stock valued at $112,654,000 after purchasing an additional 42,304 shares during the period. Concentric Capital Strategies LP acquired a new position in Martin Marietta Materials during the fourth quarter worth $3,028,000. Crestline Management LP acquired a new position in Martin Marietta Materials during the fourth quarter worth $5,527,000. Camrose Capital Investment Partners LLP acquired a new position in Martin Marietta Materials during the fourth quarter valued at approximately $9,990,000. Finally, Cetera Investment Advisers grew its holdings in Martin Marietta Materials by 10.0% in the 4th quarter. Cetera Investment Advisers now owns 9,282 shares of the construction company's stock valued at $4,794,000 after buying an additional 847 shares during the last quarter. Institutional investors own 95.04% of the company's stock.

Insider Buying and Selling

In other Martin Marietta Materials news, SVP Michael J. Petro acquired 550 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $454.37 per share, with a total value of $249,903.50. Following the completion of the acquisition, the senior vice president now owns 8,985 shares of the company's stock, valued at $4,082,514.45. This trade represents a 6.52% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Donald A. Mccunniff sold 1,332 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president now directly owns 3,523 shares of the company's stock, valued at approximately $1,673,425. This represents a 27.44% decrease in their position. The disclosure for this sale can be found here. 0.69% of the stock is currently owned by corporate insiders.

Martin Marietta Materials Price Performance

Shares of MLM traded down $1.84 during mid-day trading on Wednesday, reaching $542.05. The company had a trading volume of 178,978 shares, compared to its average volume of 485,032. 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 quick ratio of 1.40 and a current ratio of 2.50. The company has a market capitalization of $32.68 billion, a price-to-earnings ratio of 16.77, a P/E/G ratio of 4.45 and a beta of 0.89. The company's 50 day simple moving average is $494.38 and its 200 day simple moving average is $528.96.

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 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 firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the prior year, the business earned $1.93 earnings per share. The business's quarterly revenue was up 8.2% compared to the same quarter last year. Analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Monday, March 3rd. Martin Marietta Materials's dividend payout ratio is presently 18.20%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MLM. Raymond James decreased their target price on shares of Martin Marietta Materials from $600.00 to $597.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 29th. Truist Financial cut their price target on Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Stephens cut their price objective on shares of Martin Marietta Materials from $675.00 to $650.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. JPMorgan Chase & Co. downgraded shares of Martin Marietta Materials from an "overweight" rating to a "neutral" rating and cut their price target for the company from $640.00 to $560.00 in a research report on Wednesday, March 19th. Finally, StockNews.com upgraded shares of Martin Marietta Materials from a "sell" rating to a "hold" rating in a report on Tuesday, May 6th. Four 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 stock. According to MarketBeat, Martin Marietta Materials presently has an average rating of "Moderate Buy" and an average target price of $599.69.

Martin Marietta Materials 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.