Stifel Financial Corp Sells 1,120 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Stifel Financial Corp reduced its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 2.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 46,001 shares of the construction company's stock after selling 1,120 shares during the period. Stifel Financial Corp owned 0.08% of Martin Marietta Materials worth $23,763,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Proficio Capital Partners LLC boosted its holdings in Martin Marietta Materials by 54,277.3% during the fourth quarter. Proficio Capital Partners LLC now owns 918,432 shares of the construction company's stock valued at $474,370,000 after acquiring an additional 916,743 shares during the period. Principal Financial Group Inc. lifted its position in shares of Martin Marietta Materials by 76.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company's stock worth $876,648,000 after purchasing an additional 704,460 shares during the last quarter. Norges Bank acquired a new position in shares of Martin Marietta Materials during the 4th quarter worth about $306,863,000. JPMorgan Chase & Co. boosted its stake in Martin Marietta Materials by 23.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company's stock valued at $1,441,663,000 after purchasing an additional 506,705 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Martin Marietta Materials in the 4th quarter valued at approximately $196,374,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Price Performance

Martin Marietta Materials stock traded up $9.36 during mid-day trading on Wednesday, hitting $514.22. 147,538 shares of the company were exchanged, compared to its average volume of 485,216. The business has a fifty day moving average of $483.04 and a 200 day moving average of $531.06. 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, Inc. has a 1-year low of $441.95 and a 1-year high of $633.23. The company has a market capitalization of $31.16 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 4.45 and a beta of 0.81.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The construction company reported $1.90 EPS for the quarter, beating analysts' consensus estimates of $1.88 by $0.02. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.36 billion. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. The company's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.93 earnings per share. As a group, sell-side analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were given a $0.79 dividend. The ex-dividend date was Monday, March 3rd. This represents a $3.16 annualized dividend and a yield of 0.61%. Martin Marietta Materials's payout ratio is 9.77%.

Insiders Place Their Bets

In other Martin Marietta Materials news, EVP Donald A. Mccunniff sold 1,332 shares of the firm's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total value of $632,700.00. Following the completion of the sale, the executive vice president now owns 3,523 shares in the company, valued at approximately $1,673,425. This trade represents a 27.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michael J. Petro bought 550 shares of Martin Marietta Materials stock in a transaction dated Tuesday, March 4th. The shares were bought at an average price of $454.37 per share, for a total transaction of $249,903.50. Following the completion of the transaction, the senior vice president now directly owns 8,985 shares of the company's stock, valued at $4,082,514.45. This represents a 6.52 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.68% of the company's stock.

Wall Street Analysts Forecast Growth

MLM has been the subject of several research reports. JPMorgan Chase & Co. cut Martin Marietta Materials from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $640.00 to $560.00 in a research report on Wednesday, March 19th. Truist Financial reduced their price target on shares of Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Stifel Nicolaus assumed coverage on shares of Martin Marietta Materials in a research report on Tuesday, March 4th. They issued a "buy" rating and a $559.00 price target on the stock. Barclays cut their price objective on shares of Martin Marietta Materials from $645.00 to $600.00 and set an "overweight" rating for the company in a research report on Thursday, February 13th. Finally, Seaport Res Ptn raised Martin Marietta Materials to a "strong-buy" rating in a research report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $599.38.

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.