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

Voya Investment Management LLC reduced its stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 7.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 18,965 shares of the construction company's stock after selling 1,489 shares during the quarter. Voya Investment Management LLC's holdings in Martin Marietta Materials were worth $9,795,000 at the end of the most recent reporting period.

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

Martin Marietta Materials Price Performance

Shares of MLM traded up $13.73 on Friday, reaching $536.61. The stock had a trading volume of 386,424 shares, compared to its average volume of 485,352. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $633.23. The firm has a market capitalization of $32.35 billion, a PE ratio of 16.60, a PEG ratio of 4.45 and a beta of 0.89. The firm has a 50-day moving average of $485.33 and a 200 day moving average of $530.06. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56.

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

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were issued a $0.79 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.59%. Martin Marietta Materials's dividend payout ratio (DPR) is 18.20%.

Insider Activity

In other news, SVP Michael J. Petro purchased 550 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were bought at an average cost of $454.37 per share, with a total value 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 transaction was disclosed in a legal filing 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 that occurred on Wednesday, March 5th. The shares were 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 in the company, valued at $1,673,425. The trade was a 27.44 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.68% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Loop Capital dropped their price target on shares of 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. Wolfe Research upgraded Martin Marietta Materials from a "peer perform" rating to an "outperform" rating and set a $563.00 price target on the stock in a report on Wednesday, January 8th. Stephens reduced their price target on Martin Marietta Materials from $675.00 to $650.00 and set an "overweight" rating on the stock in a research report on Thursday, February 13th. UBS Group downgraded Martin Marietta Materials from a "buy" rating to a "neutral" rating and set a $491.00 price objective for the company. in a research report on Monday, April 7th. Finally, Seaport Res Ptn raised shares of Martin Marietta Materials to a "strong-buy" rating in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $603.23.

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.