TimesSquare Capital Management LLC Trims Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

TimesSquare Capital Management LLC trimmed its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 22.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 120,609 shares of the construction company’s stock after selling 34,867 shares during the period. TimesSquare Capital Management LLC owned 0.20% of Martin Marietta Materials worth $60,173,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Wealthspire Advisors LLC boosted its position in shares of Martin Marietta Materials by 3.2% during the fourth quarter. Wealthspire Advisors LLC now owns 1,151 shares of the construction company’s stock valued at $574,000 after purchasing an additional 36 shares in the last quarter. Catalyst Financial Partners LLC purchased a new position in Martin Marietta Materials during the 4th quarter valued at about $201,000. Everpar Advisors LLC purchased a new stake in Martin Marietta Materials in the fourth quarter worth about $1,203,000. Patrick M Sweeney & Associates Inc. bought a new position in shares of Martin Marietta Materials during the fourth quarter valued at approximately $210,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Martin Marietta Materials by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 364,283 shares of the construction company’s stock valued at $181,744,000 after purchasing an additional 10,309 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Insiders Place Their Bets

In other news, CEO C Howard Nye sold 15,000 shares of the company’s 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Roselyn R. Bar sold 10,000 shares of Martin Marietta Materials stock in a transaction dated 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 sale, the executive vice president now directly owns 59,970 shares of the company’s stock, valued at $36,179,301.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO C Howard Nye sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $604.26, for a total value of $9,063,900.00. Following the transaction, the chief executive officer now owns 134,640 shares of the company’s stock, valued at approximately $81,357,566.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,724 shares of company stock worth $16,033,760. Corporate insiders own 0.68% of the company’s stock.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock traded up $6.56 on Thursday, hitting $603.20. 269,177 shares of the company’s stock were exchanged, compared to its average volume of 415,079. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.41 and a current ratio of 3.16. The stock has a market capitalization of $37.18 billion, a PE ratio of 17.84, a PEG ratio of 2.80 and a beta of 0.95. Martin Marietta Materials, Inc. has a 1 year low of $389.90 and a 1 year high of $626.67. The company has a 50-day simple moving average of $600.80 and a 200-day simple moving average of $526.10.

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

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 4th were issued a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.49%. The ex-dividend date was Friday, March 1st. Martin Marietta Materials’s dividend payout ratio is currently 8.77%.

Analysts Set New Price Targets

A number of brokerages have issued reports on MLM. Raymond James lifted their price objective on Martin Marietta Materials from $505.00 to $555.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Truist Financial raised their price objective on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Citigroup upped their target price on shares of Martin Marietta Materials from $635.00 to $708.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Wolfe Research lowered shares of Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a report on Friday, March 8th. Finally, StockNews.com cut Martin Marietta Materials from a “buy” rating to a “hold” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Martin Marietta Materials has a consensus rating of “Moderate Buy” and a consensus price target of $598.17.

Martin Marietta Materials 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.