Martin Marietta Materials, Inc. (NYSE:MLM) Stake Decreased by Lathrop Investment Management Corp

Lathrop Investment Management Corp lowered its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 4.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 43,363 shares of the construction company's stock after selling 1,974 shares during the period. Martin Marietta Materials comprises 4.4% of Lathrop Investment Management Corp's holdings, making the stock its 2nd largest holding. Lathrop Investment Management Corp owned about 0.07% of Martin Marietta Materials worth $21,634,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Pinnacle Bancorp Inc. bought a new stake in Martin Marietta Materials in the fourth quarter worth about $26,000. MV Capital Management Inc. raised its holdings in Martin Marietta Materials by 144.4% during the 3rd 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 last quarter. Exchange Traded Concepts LLC bought a new stake in Martin Marietta Materials during the 4th quarter valued at $27,000. Covestor Ltd raised its holdings in Martin Marietta Materials by 84.6% in the 3rd quarter. Covestor Ltd now owns 72 shares of the construction company's stock worth $30,000 after purchasing an additional 33 shares in the last quarter. Finally, Oliver Lagore Vanvalin Investment Group raised its holdings in Martin Marietta Materials by 74.3% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 61 shares of the construction company's stock worth $30,000 after purchasing an additional 26 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO C Howard Nye sold 15,000 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $604.26, for a total value of $9,063,900.00. Following the completion of 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 legal filing with the SEC, which is available through this link. In related news, CEO C Howard Nye sold 15,000 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $604.26, for a total value of $9,063,900.00. Following the completion of the transaction, the chief executive officer now owns 134,640 shares of the company's stock, valued at $81,357,566.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sue W. Cole sold 1,724 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $543.48, for a total value of $936,959.52. Following the transaction, the director now directly 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 ninety days, insiders have sold 26,724 shares of company stock worth $16,033,760. 0.61% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on the stock. Wolfe Research downgraded shares of Martin Marietta Materials from an "outperform" rating to a "peer perform" rating in a research report on Friday, March 8th. Raymond James upped their target price on shares of Martin Marietta Materials from $505.00 to $555.00 and gave the company an "outperform" rating in a research note on Thursday, January 25th. Morgan Stanley initiated coverage on shares of Martin Marietta Materials in a research note on Monday, January 8th. They issued an "overweight" rating and a $595.00 price objective on the stock. Truist Financial raised 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 note on Tuesday, April 2nd. Finally, The Goldman Sachs Group increased their price objective on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the company a "buy" rating in a report on Tuesday, April 16th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $588.69.

Martin Marietta Materials Price Performance

MLM stock traded up $7.92 on Friday, reaching $604.99. 386,242 shares of the company's stock were exchanged, compared to its average volume of 397,845. The stock has a fifty day moving average of $593.37 and a 200-day moving average of $516.59. Martin Marietta Materials, Inc. has a twelve month low of $345.03 and a twelve month high of $626.67. The firm has a market cap of $37.34 billion, a PE ratio of 32.13, a P/E/G ratio of 2.89 and a beta of 0.96. The company has a quick ratio of 2.50, a current ratio of 3.35 and a debt-to-equity ratio of 0.49.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its earnings results on Wednesday, February 14th. The construction company reported $4.63 EPS for the quarter, topping analysts' consensus estimates of $3.96 by $0.67. Martin Marietta Materials had a return on equity of 15.77% and a net margin of 17.25%. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same period in the previous year, the business earned $3.04 earnings per share. Martin Marietta Materials's quarterly revenue was up 8.9% compared to the same quarter last year. As a group, equities analysts predict that Martin Marietta Materials, Inc. will post 21.3 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 4th were given a dividend of $0.74 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $2.96 annualized dividend and a yield of 0.49%. Martin Marietta Materials's dividend payout ratio (DPR) is presently 15.72%.

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.