Vanguard Trims Martin Marietta Stake to 14.4%

Ticker: MLM · Form: SC 13G/A · Filed: 2024-02-13T00:00:00.000Z

Sentiment: neutral

Topics: institutional-ownership, amendment, passive-investing

TL;DR

**Vanguard cut its stake in Martin Marietta to 14.4%, watch for other institutional moves.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended SC 13G/A on February 13, 2024, disclosing its ownership in Martin Marietta Materials Inc. As of December 29, 2023, Vanguard beneficially owned 8,973,619 shares of Martin Marietta's Common Stock, representing 14.4% of the company. This filing indicates a slight decrease in Vanguard's reported stake from its previous filing, which matters to investors as large institutional ownership changes can influence stock perception and liquidity.

Why It Matters

This filing shows that a major institutional investor, Vanguard, has slightly reduced its stake in Martin Marietta Materials, which could signal a shift in their investment strategy or outlook for the company.

Risk Assessment

Risk Level: low — A minor adjustment by a large institutional investor like Vanguard typically poses low risk, as it doesn't indicate a fundamental problem with the company.

Analyst Insight

An investor should note Vanguard's slight reduction in ownership, but recognize that a 14.4% stake still represents significant institutional confidence. Monitor future institutional filings for a clearer trend.

Key Numbers

8,973,619 — Shares Beneficially Owned (This is the total number of Martin Marietta Materials Inc. common stock shares Vanguard reported owning as of December 29, 2023.)
14.4% — Percentage of Class (This represents the percentage of Martin Marietta Materials Inc. common stock that Vanguard beneficially owns, indicating a significant institutional holding.)
11 — Amendment Number (This is the 11th amendment to Vanguard's Schedule 13G filing for Martin Marietta Materials Inc., showing ongoing adjustments to their reported stake.)
20240213 — Filing Date (This is the date the SC 13G/A was filed, providing the most recent public disclosure of Vanguard's position.)
573284106 — CUSIP Number (This unique identifier confirms the specific class of securities (Common Stock) of Martin Marietta Materials Inc. to which the filing pertains.)

Key Players & Entities

The Vanguard Group (company) — reporting person and institutional investor
Martin Marietta Materials Inc (company) — subject company whose shares are being reported
8,973,619 shares (dollar_amount) — number of shares beneficially owned by Vanguard
14.4% (dollar_amount) — percentage of common stock owned by Vanguard
December 29, 2023 (date) — date of the event requiring the filing

Forward-Looking Statements

Vanguard's slight reduction in stake may lead to minor short-term price volatility for Martin Marietta Materials Inc. (Martin Marietta Materials Inc.) — medium confidence, target: Q1 2024

FAQ

What is the purpose of this SC 13G/A filing?

This SC 13G/A filing is an amendment (Amendment No. 11) to a Schedule 13G, indicating that The Vanguard Group is updating its previously reported beneficial ownership of Common Stock in Martin Marietta Materials Inc. as of December 29, 2023.

Who is the reporting person in this filing and what is their IRS Identification Number?

The reporting person is The Vanguard Group, and their IRS Identification Number is 23-1945930, as stated in Item 1 of the filing.

What percentage of Martin Marietta Materials Inc.'s Common Stock does The Vanguard Group beneficially own according to this filing?

According to the filing, The Vanguard Group beneficially owns 14.4% of the Common Stock of Martin Marietta Materials Inc. as of December 29, 2023.

What is the CUSIP Number for the class of securities reported in this filing?

The CUSIP Number for the Common Stock of Martin Marietta Materials Inc. is 573284106, as specified on the cover page and Item 1 of the filing.

When was the event that required this filing, and when was the filing submitted?

The date of the event which required the filing of this statement was December 29, 2023, and the filing was submitted on February 13, 2024, as indicated by the 'Date of Event Which Requires Filing of this Statement' and 'FILED AS OF DATE' respectively.

From the Filing

0001104659-24-021419.txt : 20240213 0001104659-24-021419.hdr.sgml : 20240213 20240213170937 ACCESSION NUMBER: 0001104659-24-021419 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240213 DATE AS OF CHANGE: 20240213 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: 24628942 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: VANGUARD GROUP INC CENTRAL INDEX KEY: 0000102909 ORGANIZATION NAME: IRS NUMBER: 231945930 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482-2600 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482-2600 SC 13G/A 1 tv01408-martinmariettamateri.htm SCHEDULE 13G/A martinmariettamaterialsinc SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13G Under the Securities Exchange Act of 1934 (Amendment No.: 11)* Name of issuer:  Martin Marietta Materials Inc Title of Class of Securities:  Common Stock CUSIP Number:  573284106 Date of Event Which Requires Filing of this Statement: December 29, 2023 Check the appropriate box to designate the rule pursuant to which this Schedule is filed: ☒ 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). (Continued on the following page(s))     13G CUSIP No.:  573284106 1.  NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON The Vanguard Group - 23-1945930 2.  CHECK THE APPROPRIATE [LINE] IF A MEMBER OF A GROUP A.  B.  X 3.  SEC USE ONLY 4.  CITIZENSHIP OF PLACE OF ORGANIZATION Pennsylvania (For questions 5-8, report the number of shares beneficially owned by each reporting person with:) 5.  SOLE VOTING POWER 0 6.  SHARED VOTING POWER 81,795 7.  SOLE DISPOSITIVE POWER 6,903,108 8.  SHARED DISPOSITIVE POWER 265,481 9.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 7,168,589 10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES N/A 11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 11.60% 12.  TYPE OF REPORTING PERSON IA     SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13G Under the Securities Act of 1934 Item 1(a) - Name of Issuer: Martin Marietta Materials Inc Item 1(b) - Address of Issuer's Principal Executive Offices: 4123 Parklake Avenue Raleigh, NC 27607-3033 Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930 Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355 Item 2(c) – Citizenship: Pennsylvania Item 2(d) - Title of Class of Securities: Common Sto