Bank of America Corp DE Has $821.63 Million Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Bank of America Corp DE reduced its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 6.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,590,765 shares of the construction company's stock after selling 116,425 shares during the quarter. Bank of America Corp DE owned about 2.60% of Martin Marietta Materials worth $821,630,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MLM. Lee Danner & Bass Inc. acquired a new position in Martin Marietta Materials in the fourth quarter valued at about $28,000. Whipplewood Advisors LLC bought a new position in Martin Marietta Materials in the fourth quarter valued at approximately $32,000. Kestra Investment Management LLC acquired a new stake in shares of Martin Marietta Materials during the 4th quarter worth about $35,000. Hopwood Financial Services Inc. acquired a new stake in shares of Martin Marietta Materials during the fourth quarter worth $36,000. Finally, EverSource Wealth Advisors LLC boosted 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 during the period. 95.04% of the stock is currently owned by institutional investors.

Insider Transactions at Martin Marietta Materials

In related news, EVP Donald A. Mccunniff sold 1,332 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total transaction of $632,700.00. Following the transaction, the executive vice president now directly owns 3,523 shares of the company's stock, valued at $1,673,425. This represents a 27.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Michael J. Petro acquired 550 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average price of $454.37 per share, for a total transaction of $249,903.50. Following the purchase, the senior vice president now directly owns 8,985 shares of the company's stock, valued at approximately $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. Company insiders own 0.69% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Stephens decreased their price target 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 lowered their price target for the stock from $640.00 to $560.00 in a report on Wednesday, March 19th. StockNews.com raised Martin Marietta Materials from a "sell" rating to a "hold" rating in a research note on Tuesday, May 6th. 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 research note on Tuesday, May 6th. Finally, Barclays decreased their price target on shares of Martin Marietta Materials from $645.00 to $600.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. Four 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's stock. Based on data from MarketBeat.com, Martin Marietta Materials presently has an average rating of "Moderate Buy" and a consensus target price of $599.69.

Martin Marietta Materials Trading Up 0.0 %

Shares of Martin Marietta Materials stock traded up $0.05 on Friday, reaching $541.61. 320,149 shares of the company's stock were exchanged, compared to its average volume of 486,301. The company has a market capitalization of $32.65 billion, a P/E ratio of 16.75, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. Martin Marietta Materials, Inc. has a 52 week low of $441.95 and a 52 week high of $633.23. The firm's 50-day moving average is $491.51 and its two-hundred day moving average is $529.26. 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 (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, topping analysts' consensus estimates 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 analyst estimates of $1.36 billion. During the same period in the previous year, the business posted $1.93 EPS. The business's quarterly revenue was up 8.2% on a year-over-year basis. Sell-side analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

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