BlackRock Trims Martin Marietta Materials Stake to 9.0%

TL;DR

**BlackRock slightly cut its stake in Martin Marietta Materials to 9.0%.**

AI Summary

BlackRock Inc. filed an amended SC 13G/A on January 26, 2024, disclosing its ownership in Martin Marietta Materials Inc. (MLM) as of December 31, 2023. BlackRock now beneficially owns 7,006,231 shares of common stock, representing 9.0% of the company's outstanding shares. This is an amendment (Amendment No. 8), indicating a change from a previous filing, and it matters to investors because BlackRock, a major institutional investor, has slightly decreased its stake from a prior 9.1% (as per their last filing on Feb 1, 2023, which reported 7,088,296 shares), signaling a minor adjustment in their conviction or portfolio allocation for MLM.

Why It Matters

This filing shows BlackRock, a significant institutional investor, slightly reduced its ownership in Martin Marietta Materials, which could indicate a minor shift in their investment strategy or outlook for the company.

Risk Assessment

Risk Level: low — A minor adjustment by a large institutional investor like BlackRock typically has a low direct impact on the stock's fundamental risk profile.

Analyst Insight

A smart investor would note BlackRock's minor reduction in stake but recognize that a 9.0% holding still signifies strong institutional presence, suggesting no immediate need for drastic action based solely on this filing.

Key Numbers

• 7,006,231 — Shares Owned (The total number of Martin Marietta Materials common shares BlackRock beneficially owns.)
• 9.0% — Ownership Percentage (The percentage of Martin Marietta Materials' common stock owned by BlackRock, indicating a significant but slightly reduced stake.)
• December 31, 2023 — Reporting Date (The specific date for which the ownership data is reported, providing a clear snapshot of BlackRock's holdings.)
• 8 — Amendment Number (This is the 8th amendment to BlackRock's Schedule 13G filing for Martin Marietta Materials, indicating ongoing adjustments to their position.)

Key Players & Entities

• BlackRock Inc. (company) — the reporting person and institutional investor
• Martin Marietta Materials Inc. (company) — the subject company whose shares are being reported
• 7,006,231 (dollar_amount) — number of shares beneficially owned by BlackRock
• 9.0% (dollar_amount) — percentage of common stock owned by BlackRock
• December 31, 2023 (date) — the date of the event requiring the filing

Forward-Looking Statements

• BlackRock will continue to hold a significant, albeit potentially fluctuating, stake in Martin Marietta Materials Inc. due to its passive investment strategies. (BlackRock Inc.) — high confidence, target: December 31, 2024
• The slight reduction in BlackRock's stake will not significantly impact Martin Marietta Materials Inc.'s stock price or investor sentiment. (Martin Marietta Materials Inc.) — medium confidence, target: March 31, 2024

FAQ

From the Filing

0001086364-24-004884.txt : 20240126 0001086364-24-004884.hdr.sgml : 20240126 20240126172650 ACCESSION NUMBER: 0001086364-24-004884 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240126 DATE AS OF CHANGE: 20240126 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: MARTIN MARIETTA MATERIALS INC CENTRAL INDEX KEY: 0000916076 STANDARD INDUSTRIAL CLASSIFICATION: MINING, QUARRYING OF NONMETALLIC MINERALS (NO FUELS) [1400] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 561848578 STATE OF INCORPORATION: NC FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-47249 FILM NUMBER: 24569215 BUSINESS ADDRESS: STREET 1: 4123 PARKLAKE AVE CITY: RALEIGH STATE: NC ZIP: 27612 BUSINESS PHONE: 919-781-4550 MAIL ADDRESS: STREET 1: 4123 PARKLAKE AVE CITY: RALEIGH STATE: NC ZIP: 27612 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Inc. CENTRAL INDEX KEY: 0001364742 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] ORGANIZATION NAME: 02 Finance IRS NUMBER: 320174431 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 BUSINESS PHONE: 212-810-5300 MAIL ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 FORMER COMPANY: FORMER CONFORMED NAME: BlackRock, Inc. DATE OF NAME CHANGE: 20060929 FORMER COMPANY: FORMER CONFORMED NAME: New BlackRock, Inc. DATE OF NAME CHANGE: 20060601 SC 13G/A 1 us5732841060_012624.txt us5732841060_012624.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No: 8) MARTIN MARIETTA MATERIALS INC -------------------------------------------------------- (Name of Issuer) Common Stock -------------------------------------------------------- (Title of Class of Securities) 573284106 -------------------------------------------------------- (CUSIP Number) December 31, 2023 -------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 573284106 (1)Names of reporting persons. BlackRock, Inc. (2) Check the appropriate box if a member of a group (a) [ ] (b) [X] (3) SEC use only (4) Citizenship or place of organization Delaware Number of shares beneficially owned by each reporting person with: (5) Sole voting power 3764294 (6) Shared voting power 0 (7) Sole dispositive power 4113718 (8) Shared dispositive power 0 (9) Aggregate amount beneficially owned by each reporting person 4113718 (10) Check if the aggregate amount in Row (9) excludes certain shares (11) Percent of class represented by amount in Row 9 6.7% (12) Type of reporting person HC Item 1. Item 1(a) Name of issuer: ----------------------------------------------------------------------- MARTIN MARIETTA MATERIALS INC Item 1(b) Address of issuer's principal executive offices: ----------------------------------------------------------------------- 4123 PARKLAKE AVERALEIGH NC 27612 RALEIGH NC 27612 Item 2. 2(a) Name of person filing: ---------------------------------------------------------------------- BlackRock, Inc. 2(b) Address or principal business offi