Martin Marietta Materials Inc. (MLM) Position Boosted by Strs Ohio
Strs Ohio increased its position in shares of Martin Marietta Materials Inc. (NYSE:MLM) by 0.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 59,357 shares of the company’s stock after buying an additional 426 shares during the period. Strs Ohio owned approximately 0.09% of Martin Marietta Materials worth $11,396,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in MLM. Adage Capital Partners GP L.L.C. boosted its stake in shares of Martin Marietta Materials by 21.7% in the first quarter. Adage Capital Partners GP L.L.C. now owns 111,702 shares of the company’s stock worth $17,818,000 after buying an additional 19,900 shares during the period. Wellington Management Group LLP boosted its stake in shares of Martin Marietta Materials by 0.6% in the first quarter. Wellington Management Group LLP now owns 341,521 shares of the company’s stock worth $54,477,000 after buying an additional 2,045 shares during the period. Peregrine Asset Advisers Inc. bought a new stake in shares of Martin Marietta Materials during the first quarter worth approximately $319,000. Amici Capital LLC bought a new stake in shares of Martin Marietta Materials during the first quarter worth approximately $4,466,000. Finally, National Pension Service boosted its stake in shares of Martin Marietta Materials by 4.4% in the first quarter. National Pension Service now owns 40,754 shares of the company’s stock worth $6,501,000 after buying an additional 1,732 shares during the period. 97.18% of the stock is owned by institutional investors.
Martin Marietta Materials Inc. (NYSE:MLM) traded down 1.86% during trading on Friday, reaching $179.11. The company’s stock had a trading volume of 1,117,760 shares. The company’s 50-day moving average is $185.08 and its 200-day moving average is $182.34. Martin Marietta Materials Inc. has a 12 month low of $108.31 and a 12 month high of $206.36. The stock has a market cap of $11.36 billion, a PE ratio of 31.91 and a beta of 1.37.
Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $1.90 EPS for the quarter, missing the Zacks’ consensus estimate of $2.02 by $0.12. Martin Marietta Materials had a net margin of 9.96% and a return on equity of 9.36%. The firm had revenue of $915.40 million for the quarter, compared to analyst estimates of $953.30 million. During the same period in the previous year, the business posted $1.22 earnings per share. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. Equities analysts expect that Martin Marietta Materials Inc. will post $7.19 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 1st were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.94%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Tuesday, August 30th. Martin Marietta Materials’s dividend payout ratio (DPR) is 30.05%.
MLM has been the subject of a number of recent analyst reports. Zacks Investment Research cut Martin Marietta Materials from a “buy” rating to a “hold” rating in a research note on Tuesday, July 5th. Jefferies Group reaffirmed a “hold” rating on shares of Martin Marietta Materials in a research note on Wednesday, August 31st. Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $209.00 price objective (up from $191.00) on shares of Martin Marietta Materials in a research report on Wednesday, June 8th. Bank of America Corp. reiterated a “buy” rating on shares of Martin Marietta Materials in a research report on Friday, June 17th. Finally, Alembic Global Advisors initiated coverage on Martin Marietta Materials in a research report on Thursday, June 9th. They issued an “overweight” rating and a $220.00 price objective for the company. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $201.86.
In other news, EVP Roselyn R. Bar sold 5,830 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $199.98, for a total transaction of $1,165,883.40. Following the completion of the transaction, the executive vice president now directly owns 42,588 shares in the company, valued at $8,516,748.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David G. Maffucci sold 6,779 shares of the firm’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $199.90, for a total value of $1,355,122.10. Following the transaction, the director now owns 20,326 shares of the company’s stock, valued at $4,063,167.40. The disclosure for this sale can be found here. Insiders own 1.06% of the company’s stock.
Martin Marietta Materials Company Profile
Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand and gravel) for the construction industry, used for the construction of infrastructure, non-residential, and residential projects. The Company operates through three businesses: Aggregates Business, Cement Business and Magnesia Specialties Business.
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