Egerton Capital UK LLP Sells 122,398 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Egerton Capital UK LLP lessened its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 59.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,276 shares of the construction company’s stock after selling 122,398 shares during the period. Martin Marietta Materials comprises 0.5% of Egerton Capital UK LLP’s holdings, making the stock its 29th largest position. Egerton Capital UK LLP’s holdings in Martin Marietta Materials were worth $42,496,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in MLM. Whipplewood Advisors LLC acquired a new position in shares of Martin Marietta Materials during the 4th quarter worth about $32,000. Kestra Investment Management LLC acquired a new position in shares of Martin Marietta Materials during the 4th quarter worth about $35,000. Hopwood Financial Services Inc. acquired a new position in shares of Martin Marietta Materials during the 4th quarter worth about $36,000. EverSource Wealth Advisors LLC boosted its stake in shares of 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 last quarter. Finally, Retirement Wealth Solutions LLC acquired a new position in shares of Martin Marietta Materials during the 4th quarter worth about $41,000. Institutional investors own 95.04% of the company’s stock.

Insider Activity at Martin Marietta Materials

In related news, SVP Michael J. Petro bought 550 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were purchased 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 approximately $4,082,514.45. This represents a 6.52 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Donald A. Mccunniff sold 1,332 shares of the firm’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 completion of the sale, the executive vice president now owns 3,523 shares in the company, valued at $1,673,425. This represents a 27.44 % decrease in their position. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by insiders.

Martin Marietta Materials Stock Performance

Shares of NYSE:MLM opened at $464.59 on Wednesday. The company’s 50 day simple moving average is $516.77 and its 200 day simple moving average is $542.07. The stock has a market capitalization of $28.33 billion, a price-to-earnings ratio of 14.37, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. Martin Marietta Materials, Inc. has a 1 year low of $448.50 and a 1 year high of $633.23.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. As a group, research analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be paid a $0.79 dividend. The ex-dividend date is Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a yield of 0.68%. Martin Marietta Materials’s dividend payout ratio (DPR) is 9.77%.

Analysts Set New Price Targets

A number of research firms have recently commented on MLM. Hsbc Global Res upgraded shares of Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. HSBC upgraded shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 target price for the company in a research note on Wednesday, December 11th. Raymond James cut their target price on shares of Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Truist Financial cut their target price on shares of Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, Morgan Stanley cut their target price on shares of Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Martin Marietta Materials has an average rating of “Moderate Buy” and an average target price of $634.36.

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.