Corebridge Financial Inc. Sells 438 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Corebridge Financial Inc. decreased its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,010 shares of the construction company’s stock after selling 438 shares during the period. Corebridge Financial Inc.’s holdings in Martin Marietta Materials were worth $8,786,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MLM. Lee Danner & Bass Inc. bought a new stake in shares of Martin Marietta Materials in the fourth quarter worth $28,000. Whipplewood Advisors LLC bought a new stake in shares of Martin Marietta Materials during the 4th quarter valued at about $32,000. Kestra Investment Management LLC purchased a new stake in shares of Martin Marietta Materials during the 4th quarter valued at about $35,000. Hopwood Financial Services Inc. bought a new position in shares of Martin Marietta Materials in the 4th quarter worth approximately $36,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Martin Marietta Materials by 91.9% in the fourth 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. 95.04% of the stock is owned by institutional investors.

Insider Buying and Selling at Martin Marietta Materials

In related news, SVP Michael J. Petro acquired 550 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost of $454.37 per share, with a total value of $249,903.50. Following the transaction, the senior vice president now directly owns 8,985 shares of the company’s stock, valued at $4,082,514.45. This trade represents a 6.52 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Donald A. Mccunniff sold 1,332 shares of Martin Marietta Materials stock in a transaction that occurred on Wednesday, March 5th. The stock was 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 of the company’s stock, valued at $1,673,425. This trade represents a 27.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by company insiders.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock opened at $485.04 on Friday. The company has a market capitalization of $29.57 billion, a PE ratio of 15.00, a P/E/G ratio of 4.45 and a beta of 0.89. The company has a 50-day simple moving average of $508.34 and a two-hundred day simple moving average of $538.54. Martin Marietta Materials, Inc. has a one year low of $448.50 and a one year high of $633.23. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, topping the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. Research analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.65%. The ex-dividend date is Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio is currently 9.77%.

Analysts Set New Price Targets

Several research firms have weighed in on MLM. Barclays decreased their price target on shares of Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Seaport Res Ptn raised Martin Marietta Materials to a “strong-buy” rating in a report on Friday, March 21st. Loop Capital cut their price target on Martin Marietta Materials from $680.00 to $645.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Stifel Nicolaus started coverage on Martin Marietta Materials in a research note on Tuesday, March 4th. They issued a “buy” rating and a $559.00 price objective on the stock. Finally, StockNews.com downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Martin Marietta Materials has an average rating of “Moderate Buy” and an average price target of $628.64.

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.