Mirae Asset Global Investments Co. Ltd. Decreases Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Mirae Asset Global Investments Co. Ltd. decreased its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 335,758 shares of the construction company's stock after selling 4,604 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.54% of Martin Marietta Materials worth $167,513,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. MV Capital Management Inc. grew its position in Martin Marietta Materials by 144.4% during the third quarter. MV Capital Management Inc. now owns 66 shares of the construction company's stock valued at $27,000 after buying an additional 39 shares during the period. Exchange Traded Concepts LLC bought a new position in Martin Marietta Materials during the fourth quarter valued at about $27,000. Householder Group Estate & Retirement Specialist LLC bought a new position in Martin Marietta Materials during the third quarter valued at about $30,000. Covestor Ltd grew its position in Martin Marietta Materials by 84.6% during the third quarter. Covestor Ltd now owns 72 shares of the construction company's stock valued at $30,000 after buying an additional 33 shares during the period. Finally, Quarry LP bought a new position in Martin Marietta Materials during the first quarter valued at about $30,000. Institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Price Performance

Shares of Martin Marietta Materials stock traded up $15.32 on Friday, reaching $619.41. The stock had a trading volume of 392,431 shares, compared to its average volume of 387,137. The business's 50 day moving average is $570.92 and its two-hundred day moving average is $497.91. The company has a market cap of $38.29 billion, a P/E ratio of 32.89, a price-to-earnings-growth ratio of 3.03 and a beta of 0.96. The company has a current ratio of 3.35, a quick ratio of 2.50 and a debt-to-equity ratio of 0.49. Martin Marietta Materials, Inc. has a 1 year low of $332.13 and a 1 year high of $622.28.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its earnings results on Wednesday, February 14th. The construction company reported $4.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.96 by $0.67. Martin Marietta Materials had a net margin of 17.25% and a return on equity of 15.77%. The firm had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.62 billion. During the same quarter last year, the business earned $3.04 earnings per share. The business's revenue was up 8.9% on a year-over-year basis. As a group, research analysts anticipate that Martin Marietta Materials, Inc. will post 21.09 EPS for the current year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 4th were issued a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Friday, March 1st. Martin Marietta Materials's dividend payout ratio is 15.72%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MLM shares. Citigroup increased their price target on shares of Martin Marietta Materials from $635.00 to $708.00 and gave the company a "buy" rating in a research report on Friday. Raymond James increased their target price on shares of Martin Marietta Materials from $505.00 to $555.00 and gave the stock an "outperform" rating in a research report on Thursday, January 25th. Morgan Stanley began coverage on shares of Martin Marietta Materials in a research report on Monday, January 8th. They set an "overweight" rating and a $595.00 target price for the company. HSBC upgraded shares of Martin Marietta Materials from a "reduce" rating to a "hold" rating and increased their target price for the stock from $376.00 to $543.00 in a research report on Thursday, February 22nd. Finally, Truist Financial increased their target price on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the stock a "buy" rating in a research report on Tuesday, April 2nd. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Martin Marietta Materials has a consensus rating of "Moderate Buy" and an average target price of $577.38.

Insider Transactions at Martin Marietta Materials

In related news, Director Sue W. Cole sold 1,724 shares of Martin Marietta Materials stock in a transaction on Friday, February 16th. The shares were sold at an average price of $543.48, for a total value of $936,959.52. Following the sale, the director now owns 19,793 shares in the company, valued at $10,757,099.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO C Howard Nye sold 15,000 shares of Martin Marietta Materials stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $604.26, for a total value of $9,063,900.00. Following the sale, the chief executive officer now owns 134,640 shares in the company, valued at $81,357,566.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sue W. Cole sold 1,724 shares of Martin Marietta Materials stock in a transaction on Friday, February 16th. The shares were sold at an average price of $543.48, for a total transaction of $936,959.52. Following the completion of the sale, the director now owns 19,793 shares in the company, valued at approximately $10,757,099.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,724 shares of company stock worth $16,033,760. Insiders own 0.61% of the company's stock.

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.