Martin Marietta Materials, Inc. (MLM) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 16.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,345 shares of the construction company’s stock after buying an additional 2,477 shares during the period. Envestnet Asset Management Inc.’s holdings in Martin Marietta Materials were worth $3,785,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of MLM. Boys Arnold & Co. Inc. increased its stake in Martin Marietta Materials by 18.5% in the first quarter. Boys Arnold & Co. Inc. now owns 3,260 shares of the construction company’s stock worth $711,000 after buying an additional 510 shares in the last quarter. Reliance Trust Co. of Delaware increased its stake in Martin Marietta Materials by 19.5% in the first quarter. Reliance Trust Co. of Delaware now owns 3,475 shares of the construction company’s stock worth $759,000 after buying an additional 568 shares in the last quarter. Princeton Capital Management Inc. increased its stake in Martin Marietta Materials by 1.3% in the third quarter. Princeton Capital Management Inc. now owns 28,595 shares of the construction company’s stock worth $5,122,000 after buying an additional 359 shares in the last quarter. First Eagle Investment Management LLC increased its stake in Martin Marietta Materials by 3.8% in the third quarter. First Eagle Investment Management LLC now owns 1,446,940 shares of the construction company’s stock worth $259,162,000 after buying an additional 53,431 shares in the last quarter. Finally, Heritage Investors Management Corp increased its stake in Martin Marietta Materials by 3.9% in the first quarter. Heritage Investors Management Corp now owns 80,577 shares of the construction company’s stock worth $17,586,000 after buying an additional 3,016 shares in the last quarter. 97.24% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

Martin Marietta Materials, Inc. (NYSE MLM) opened at 230.33 on Friday. Martin Marietta Materials, Inc. has a 12 month low of $167.06 and a 12 month high of $244.32. The firm has a 50-day moving average of $230.65 and a 200 day moving average of $223.31. The firm has a market capitalization of $14.46 billion, a PE ratio of 34.76 and a beta of 1.21.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Tuesday, May 2nd. The construction company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.05. Martin Marietta Materials had a net margin of 10.91% and a return on equity of 10.32%. The firm had revenue of $791.70 million during the quarter, compared to analyst estimates of $729.28 million. During the same period last year, the firm posted $0.69 earnings per share. Martin Marietta Materials’s revenue for the quarter was up 7.9% compared to the same quarter last year. Equities research analysts forecast that Martin Marietta Materials, Inc. will post $7.14 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 1st will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date is Tuesday, May 30th. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 25.42%.

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MLM has been the subject of a number of recent analyst reports. Stifel Nicolaus upped their price target on shares of Martin Marietta Materials from $258.00 to $265.00 and gave the stock a “buy” rating in a report on Wednesday, May 3rd. Cleveland Research raised shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating in a report on Friday, March 31st. Zacks Investment Research downgraded shares of Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a report on Friday, February 17th. BidaskClub raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Citigroup Inc. began coverage on shares of Martin Marietta Materials in a research note on Wednesday, March 29th. They issued a “buy” rating and a $245.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $229.29.

In related news, Chairman C Howard Nye sold 10,258 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $239.16, for a total value of $2,453,303.28. Following the completion of the sale, the chairman now directly owns 143,038 shares in the company, valued at $34,208,968.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Donald A. Mccunniff sold 1,391 shares of the firm’s stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $240.17, for a total value of $334,076.47. Following the completion of the sale, the senior vice president now owns 19,858 shares of the company’s stock, valued at $4,769,295.86. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,121 shares of company stock valued at $4,332,440. 1.06% of the stock is currently owned by insiders.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.

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