Weik Capital Management Has $5.52 Million Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Weik Capital Management trimmed its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,685 shares of the construction company’s stock after selling 65 shares during the period. Martin Marietta Materials comprises about 2.2% of Weik Capital Management’s investment portfolio, making the stock its 8th largest position. Weik Capital Management’s holdings in Martin Marietta Materials were worth $5,519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its holdings in shares of Martin Marietta Materials by 76.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock worth $876,648,000 after acquiring an additional 704,460 shares in the last quarter. Swedbank AB grew its holdings in shares of Martin Marietta Materials by 326.4% during the third quarter. Swedbank AB now owns 3,492 shares of the construction company’s stock worth $1,880,000 after purchasing an additional 2,673 shares during the last quarter. Larson Financial Group LLC acquired a new stake in shares of Martin Marietta Materials in the third quarter valued at $49,000. Bank of Montreal Can raised its holdings in shares of Martin Marietta Materials by 3.2% in the third quarter. Bank of Montreal Can now owns 52,647 shares of the construction company’s stock valued at $28,383,000 after buying an additional 1,622 shares during the last quarter. Finally, Dai ichi Life Insurance Company Ltd lifted its position in Martin Marietta Materials by 54.2% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 2,275 shares of the construction company’s stock worth $1,225,000 after buying an additional 800 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Price Performance

MLM opened at $485.04 on Friday. The company has a fifty day simple moving average of $508.34 and a 200 day simple moving average of $538.54. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56. The stock has a market cap of $29.57 billion, a P/E ratio of 15.00, a P/E/G ratio of 4.45 and a beta of 0.89. Martin Marietta Materials, Inc. has a 12 month low of $448.50 and a 12 month high of $633.23.

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

Martin Marietta Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.77%.

Analyst Ratings Changes

MLM has been the subject of several research reports. BNP Paribas cut shares of Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. cut shares of Martin Marietta Materials from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $640.00 to $560.00 in a research report on Wednesday, March 19th. Seaport Res Ptn raised Martin Marietta Materials to a “strong-buy” rating in a report on Friday, March 21st. Wolfe Research upgraded Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 target price for the company in a research report on Wednesday, January 8th. Finally, Hsbc Global Res upgraded Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $628.64.

Insider Transactions at Martin Marietta Materials

In related news, EVP Donald A. Mccunniff sold 1,332 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 3,523 shares in the company, valued at approximately $1,673,425. This trade represents a 27.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael J. Petro bought 550 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the transaction, the senior vice president now owns 8,985 shares in the company, valued at $4,082,514.45. The trade was a 6.52 % increase in their position. The disclosure for this purchase can be found here. 0.68% of the stock is owned by insiders.

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.