Comerica Securities Inc. raised its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 27.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,927 shares of the construction company’s stock after buying an additional 1,066 shares during the quarter. Comerica Securities Inc.’s holdings in Martin Marietta Materials were worth $1,097,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. First Personal Financial Services grew its holdings in Martin Marietta Materials by 4.5% in the 1st quarter. First Personal Financial Services now owns 513 shares of the construction company’s stock valued at $112,000 after buying an additional 22 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Martin Marietta Materials by 130.9% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 538 shares of the construction company’s stock valued at $120,000 after buying an additional 305 shares during the last quarter. Dupont Capital Management Corp acquired a new stake in Martin Marietta Materials in the 2nd quarter valued at approximately $128,000. Northwest Investment Counselors LLC acquired a new stake in Martin Marietta Materials in the 2nd quarter valued at approximately $134,000. Finally, FNY Partners Fund LP acquired a new stake in Martin Marietta Materials in the 1st quarter valued at approximately $174,000. 95.80% of the stock is currently owned by hedge funds and other institutional investors.
MLM has been the topic of a number of research analyst reports. Zacks Investment Research raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Monday, September 4th. BidaskClub raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Finally, Jefferies Group LLC set a $166.00 target price on Martin Marietta Materials and gave the company a “hold” rating in a report on Monday, August 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. Martin Marietta Materials has an average rating of “Hold” and an average target price of $220.57.
Shares of Martin Marietta Materials, Inc. (NYSE MLM) traded down 1.236% during mid-day trading on Friday, hitting $196.974. The company’s stock had a trading volume of 220,493 shares. The company has a 50-day moving average of $208.16 and a 200 day moving average of $219.19. Martin Marietta Materials, Inc. has a 1-year low of $167.06 and a 1-year high of $244.32. The company has a market cap of $12.38 billion, a price-to-earnings ratio of 28.346 and a beta of 1.15.
Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Tuesday, August 1st. The construction company reported $2.25 EPS for the quarter, missing the consensus estimate of $2.38 by ($0.13). Martin Marietta Materials had a net margin of 11.19% and a return on equity of 10.69%. The firm had revenue of $996.30 million during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the company posted $1.90 EPS. Martin Marietta Materials’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, analysts expect that Martin Marietta Materials, Inc. will post $7.14 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Tuesday, September 5th will be given a $0.44 dividend. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.42. The ex-dividend date is Thursday, August 31st. This represents a $1.76 annualized dividend and a dividend yield of 0.88%. Martin Marietta Materials’s dividend payout ratio is presently 25.29%.
In other news, Director John J. Koraleski bought 500 shares of the firm’s stock in a transaction dated Friday, August 18th. The shares were bought at an average price of $198.37 per share, with a total value of $99,185.00. Following the completion of the transaction, the director now owns 1,439 shares of the company’s stock, valued at $285,454.43. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.45% of the stock is currently owned by corporate 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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