Amalgamated Bank Sells 601 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Amalgamated Bank lowered its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 3.7% during the 4th quarter, HoldingsChannel reports. The fund owned 15,859 shares of the construction company’s stock after selling 601 shares during the period. Amalgamated Bank’s holdings in Martin Marietta Materials were worth $7,912,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in shares of Martin Marietta Materials by 9.7% in the third quarter. JPMorgan Chase & Co. now owns 2,042,537 shares of the construction company’s stock worth $838,421,000 after acquiring an additional 181,136 shares during the last quarter. FMR LLC boosted its stake in Martin Marietta Materials by 225.3% during the 3rd quarter. FMR LLC now owns 1,833,959 shares of the construction company’s stock valued at $752,803,000 after purchasing an additional 1,270,116 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Martin Marietta Materials by 3.8% in the 3rd quarter. Northern Trust Corp now owns 615,467 shares of the construction company’s stock worth $252,637,000 after purchasing an additional 22,391 shares in the last quarter. Invesco Ltd. raised its stake in shares of Martin Marietta Materials by 22.6% in the third quarter. Invesco Ltd. now owns 570,193 shares of the construction company’s stock worth $234,053,000 after purchasing an additional 104,981 shares during the last quarter. Finally, DAVENPORT & Co LLC lifted its holdings in shares of Martin Marietta Materials by 0.8% during the fourth quarter. DAVENPORT & Co LLC now owns 423,953 shares of the construction company’s stock valued at $211,103,000 after purchasing an additional 3,292 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Up 0.2 %

Martin Marietta Materials stock opened at $591.03 on Friday. Martin Marietta Materials, Inc. has a 1 year low of $384.61 and a 1 year high of $626.67. The firm’s 50 day moving average price is $598.46 and its 200-day moving average price is $522.18. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.16 and a quick ratio of 2.50. The stock has a market cap of $36.43 billion, a P/E ratio of 17.51, a PEG ratio of 2.80 and a beta of 0.95.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.88 by $0.05. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.31 billion. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. The business’s revenue was down 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.16 EPS. On average, equities analysts predict that Martin Marietta Materials, Inc. will post 21.7 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 4th were given a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Friday, March 1st. Martin Marietta Materials’s dividend payout ratio is presently 8.77%.

Wall Street Analyst Weigh In

Several research firms have issued reports on MLM. JPMorgan Chase & Co. restated a “neutral” rating and set a $600.00 target price (up previously from $530.00) on shares of Martin Marietta Materials in a research note on Friday, March 22nd. Wolfe Research lowered shares of Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research report on Friday, March 8th. Stifel Nicolaus raised their price objective on shares of Martin Marietta Materials from $621.00 to $650.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Citigroup upped their target price on shares of Martin Marietta Materials from $635.00 to $708.00 and gave the company a “buy” rating in a report on Friday, April 5th. Finally, HSBC upgraded Martin Marietta Materials from a “reduce” rating to a “hold” rating and upped their price objective for the stock from $376.00 to $543.00 in a research note on Thursday, February 22nd. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $588.69.

Insider Activity at Martin Marietta Materials

In other Martin Marietta Materials 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 completion of the transaction, the director now directly owns 19,793 shares of the company’s stock, valued at approximately $10,757,099.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Roselyn R. Bar sold 10,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $603.29, for a total value of $6,032,900.00. Following the completion of the sale, the executive vice president now directly owns 59,970 shares in the company, valued at $36,179,301.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Sue W. Cole sold 1,724 shares of the business’s 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 transaction, 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. Insiders have sold a total of 26,724 shares of company stock valued at $16,033,760 over the last 90 days. 0.61% of the stock is owned by corporate insiders.

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.