Advisors Asset Management Inc. trimmed its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 6.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,955 shares of the construction company’s stock after selling 2,865 shares during the quarter. Advisors Asset Management Inc. owned 0.07% of Martin Marietta Materials worth $8,859,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in MLM. Egerton Capital UK LLP boosted its holdings in Martin Marietta Materials by 329.1% in the second quarter. Egerton Capital UK LLP now owns 1,967,865 shares of the construction company’s stock worth $438,007,000 after acquiring an additional 1,509,258 shares in the last quarter. Harbour Capital Advisors LLC boosted its holdings in Martin Marietta Materials by 22,705.9% in the second quarter. Harbour Capital Advisors LLC now owns 370,596 shares of the construction company’s stock worth $1,665,000 after acquiring an additional 368,971 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Martin Marietta Materials by 20.5% in the third quarter. Principal Financial Group Inc. now owns 1,660,752 shares of the construction company’s stock worth $342,497,000 after acquiring an additional 282,189 shares in the last quarter. CI Investments Inc. bought a new stake in Martin Marietta Materials in the third quarter worth $54,546,000. Finally, Janus Henderson Group PLC boosted its holdings in Martin Marietta Materials by 2,682.2% in the second quarter. Janus Henderson Group PLC now owns 225,165 shares of the construction company’s stock worth $50,117,000 after acquiring an additional 217,072 shares in the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have commented on MLM. Zacks Investment Research downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Friday, July 28th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $228.00 target price on shares of Martin Marietta Materials in a report on Friday, October 27th. BidaskClub cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. DA Davidson restated a “hold” rating and issued a $225.00 price target on shares of Martin Marietta Materials in a research note on Friday, November 3rd. Finally, Citigroup Inc. restated a “buy” rating and issued a $260.00 price target (down previously from $270.00) on shares of Martin Marietta Materials in a research note on Monday, October 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $242.43.
Martin Marietta Materials, Inc. (NYSE MLM) traded down $1.66 during mid-day trading on Friday, hitting $207.72. The stock had a trading volume of 361,357 shares, compared to its average volume of 645,486. Martin Marietta Materials, Inc. has a 52-week low of $191.09 and a 52-week high of $244.32. The company has a quick ratio of 1.50, a current ratio of 2.73 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $13,210.00, a PE ratio of 30.93, a P/E/G ratio of 2.21 and a beta of 1.14.
Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Thursday, November 2nd. The construction company reported $2.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.45 by ($0.06). Martin Marietta Materials had a return on equity of 10.39% and a net margin of 11.03%. The business had revenue of $1.02 million during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the firm earned $2.49 EPS. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. analysts expect that Martin Marietta Materials, Inc. will post 6.92 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend is Thursday, November 30th. Martin Marietta Materials’s dividend payout ratio is currently 25.66%.
Martin Marietta Materials 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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