Martin Marietta Materials, Inc. (NYSE:MLM) Director Laree E. Perez Sells 1,038 Shares

Key Points

• Laree E. Perez, a director at Martin Marietta Materials, sold 1,038 shares of the company's stock for approximately $636,626, decreasing their position by 6.31%.
• The company's stocks traded down by 1.7% on Monday, reaching a price of $600.56, despite having an annual high of $633.23.
• Martin Marietta reported an earnings miss for the previous quarter, with an EPS of $5.43, slightly below the consensus estimate of $5.44, accompanied by a 2.7% year-over-year revenue increase.

Martin Marietta Materials, Inc. (NYSE:MLM - Get Free Report) Director Laree E. Perez sold 1,038 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $613.32, for a total transaction of $636,626.16. Following the completion of the sale, the director owned 15,417 shares in the company, valued at $9,455,554.44. This represents a 6.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Martin Marietta Materials Stock Down 1.1%

MLM traded down $6.90 during midday trading on Thursday, hitting $613.18. The company had a trading volume of 365,019 shares, compared to its average volume of 428,141. Martin Marietta Materials, Inc. has a 52 week low of $441.95 and a 52 week high of $633.23. The company has a quick ratio of 1.21, a current ratio of 2.35 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $36.98 billion, a price-to-earnings ratio of 34.01, a PEG ratio of 5.66 and a beta of 0.89. The stock's 50 day moving average price is $566.66 and its 200 day moving average price is $530.35.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The construction company reported $5.43 earnings per share for the quarter, missing the consensus estimate of $5.44 by ($0.01). Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period last year, the firm posted $4.76 earnings per share. The company's revenue for the quarter was up 2.7% on a year-over-year basis. On average, research analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd will be paid a $0.83 dividend. This is an increase from Martin Marietta Materials's previous quarterly dividend of $0.79. This represents a $3.32 annualized dividend and a yield of 0.5%. Martin Marietta Materials's payout ratio is 17.53%.

Analyst Ratings Changes

A number of analysts have weighed in on MLM shares. Stephens restated an "overweight" rating and issued a $700.00 target price on shares of Martin Marietta Materials in a research report on Monday, August 4th. DA Davidson lifted their price target on shares of Martin Marietta Materials from $625.00 to $700.00 and gave the stock a "buy" rating in a report on Monday. Bank of America lifted their price target on shares of Martin Marietta Materials from $577.00 to $643.00 and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Raymond James Financial lifted their price target on shares of Martin Marietta Materials from $600.00 to $645.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and set a $525.00 price target (up previously from $515.00) on shares of Martin Marietta Materials in a report on Friday, August 8th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $622.63.

Institutional Investors Weigh In On Martin Marietta Materials

Several hedge funds and other institutional investors have recently bought and sold shares of MLM. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Martin Marietta Materials during the second quarter worth about $28,000. Wayfinding Financial LLC bought a new stake in shares of Martin Marietta Materials during the first quarter worth about $29,000. Chilton Capital Management LLC bought a new stake in shares of Martin Marietta Materials during the first quarter worth about $30,000. Zions Bancorporation National Association UT bought a new stake in shares of Martin Marietta Materials during the first quarter worth about $30,000. Finally, NewSquare Capital LLC increased its position in shares of Martin Marietta Materials by 62.2% during the second quarter. NewSquare Capital LLC now owns 60 shares of the construction company's stock worth $33,000 after acquiring an additional 23 shares in the last quarter. 95.04% of the stock is owned by institutional investors.

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.