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

Fred Alger Management LLC decreased its holdings in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 38.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 89,281 shares of the construction company's stock after selling 55,458 shares during the period. Fred Alger Management LLC owned about 0.15% of Martin Marietta Materials worth $46,114,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Lee Danner & Bass Inc. bought a new position in shares of Martin Marietta Materials during the 4th quarter worth approximately $28,000. Whipplewood Advisors LLC purchased a new position in Martin Marietta Materials in the fourth quarter worth $32,000. Kestra Investment Management LLC acquired a new position in shares of Martin Marietta Materials during the fourth quarter worth $35,000. Hopwood Financial Services Inc. purchased a new stake in shares of Martin Marietta Materials during the 4th quarter valued at $36,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Martin Marietta Materials by 91.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company's stock worth $37,000 after purchasing an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Price Performance

NYSE MLM traded up $0.05 on Friday, hitting $541.61. The company had a trading volume of 320,149 shares, compared to its average volume of 486,301. 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 company has a market capitalization of $32.65 billion, a PE ratio of 16.75, a PEG ratio of 4.45 and a beta of 0.89. Martin Marietta Materials, Inc. has a 12-month low of $441.95 and a 12-month high of $633.23. The company's fifty day moving average price is $491.51 and its 200-day moving average price is $529.26.

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

Martin Marietta Materials Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis 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%.

Insider Buying and Selling

In related news, SVP Michael J. Petro acquired 550 shares of the stock in a transaction on Tuesday, March 4th. The shares were bought at an average price of $454.37 per share, with a total value of $249,903.50. Following the completion of 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Donald A. Mccunniff sold 1,332 shares of the company'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 sale, the executive vice president now 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 disclosure for this sale can be found here. 0.69% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on MLM shares. Raymond James lowered their target price on shares of Martin Marietta Materials from $600.00 to $597.00 and set an "outperform" rating for the company in a research note on Tuesday, April 29th. UBS Group downgraded shares of Martin Marietta Materials from a "buy" rating to a "neutral" rating and set a $491.00 price objective for the company. in a research note on Monday, April 7th. Barclays cut their target price on 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. Loop Capital reduced their target price on Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Finally, Truist Financial dropped 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. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus 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.