Bogart Wealth LLC Lowers Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Bogart Wealth LLC trimmed its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 37.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 84 shares of the construction company’s stock after selling 50 shares during the period. Bogart Wealth LLC’s holdings in Martin Marietta Materials were worth $42,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Pinnacle Bancorp Inc. purchased a new position in Martin Marietta Materials in the 4th quarter worth approximately $26,000. MV Capital Management Inc. raised its stake 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 purchased a new stake in Martin Marietta Materials during the 4th quarter valued at $27,000. Benjamin Edwards Inc. raised its stake in Martin Marietta Materials by 78.8% during the 4th quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock valued at $29,000 after buying an additional 26 shares during the last quarter. Finally, Covestor Ltd raised its stake in Martin Marietta Materials by 84.6% during the 3rd 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 last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials Price Performance

MLM stock traded up $5.75 during mid-day trading on Thursday, hitting $602.39. The company had a trading volume of 33,624 shares, compared to its average volume of 412,312. The company has a market capitalization of $37.13 billion, a price-to-earnings ratio of 17.74, a P/E/G ratio of 2.80 and a beta of 0.95. Martin Marietta Materials, Inc. has a 12-month low of $389.90 and a 12-month high of $626.67. The company has a quick ratio of 2.41, a current ratio of 3.16 and a debt-to-equity ratio of 0.44. The company has a 50-day moving average price of $600.80 and a 200 day moving average price of $526.10.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.05. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the company earned $2.16 EPS. On average, research analysts anticipate that Martin Marietta Materials, Inc. will post 21.7 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Friday, March 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 8.77%.

Insiders Place Their Bets

In other Martin Marietta Materials news, Director Sue W. Cole sold 1,724 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 19,793 shares of the company’s stock, valued at $10,757,099.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO C Howard Nye sold 15,000 shares of Martin Marietta Materials stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $604.26, for a total transaction of $9,063,900.00. Following the completion of the sale, the chief executive officer now owns 134,640 shares of the company’s stock, valued at $81,357,566.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sue W. Cole sold 1,724 shares of Martin Marietta Materials stock in a transaction that occurred 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 sale, the director now directly owns 19,793 shares of the company’s stock, valued at approximately $10,757,099.64. The disclosure for this sale can be found here. Insiders sold a total of 26,724 shares of company stock valued at $16,033,760 over the last 90 days. Insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. StockNews.com lowered shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a research note on Thursday. Stifel Nicolaus boosted their price objective on shares of Martin Marietta Materials from $621.00 to $650.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Stephens boosted their price objective on shares of Martin Marietta Materials from $575.00 to $605.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. 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. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $600.00 price objective (up previously from $530.00) on shares of Martin Marietta Materials in a research report on Friday, March 22nd. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $598.17.

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.