Sumitomo Mitsui Trust Holdings Inc. decreased its stake in Martin Marietta Materials Inc. (NYSE:MLM) by 13.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 225,100 shares of the company’s stock after selling 33,811 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.35% of Martin Marietta Materials worth $43,219,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Checchi Capital Advisers LLC boosted its stake in shares of Martin Marietta Materials by 5.9% in the second quarter. Checchi Capital Advisers LLC now owns 686 shares of the company’s stock valued at $132,000 after buying an additional 38 shares in the last quarter. Atria Investments LLC acquired a new stake in shares of Martin Marietta Materials during the second quarter valued at about $225,000. ING Groep NV acquired a new stake in shares of Martin Marietta Materials during the first quarter valued at about $233,000. Daiwa Securities Group Inc. boosted its stake in shares of Martin Marietta Materials by 15.4% in the second quarter. Daiwa Securities Group Inc. now owns 1,500 shares of the company’s stock valued at $288,000 after buying an additional 200 shares in the last quarter. Finally, First Dallas Securities Inc. acquired a new stake in shares of Martin Marietta Materials during the second quarter valued at about $315,000. 97.11% of the stock is currently owned by institutional investors and hedge funds.

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

Shares of Martin Marietta Materials Inc. (NYSE:MLM) traded up 0.58% during trading on Tuesday, reaching $178.21. 678,570 shares of the company’s stock traded hands. Martin Marietta Materials Inc. has a 1-year low of $108.31 and a 1-year high of $206.36. The company has a 50 day moving average price of $178.55 and a 200 day moving average price of $184.00. The stock has a market capitalization of $11.31 billion, a PE ratio of 31.75 and a beta of 1.36.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $2.02 by $0.12. The firm earned $915.40 million during the quarter, compared to analyst estimates of $953.30 million. Martin Marietta Materials had a net margin of 9.96% and a return on equity of 9.36%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.22 earnings per share. On average, equities analysts forecast that Martin Marietta Materials Inc. will post $7.14 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 1st were paid a $0.42 dividend. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend was Tuesday, August 30th. Martin Marietta Materials’s payout ratio is currently 30.05%.

A number of research firms recently weighed in on MLM. Zacks Investment Research lowered shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Wednesday, July 13th. Goldman Sachs Group Inc. lowered shares of Martin Marietta Materials from a “buy” rating to a “neutral” rating and cut their target price for the stock from $210.00 to $202.00 in a research note on Tuesday, October 11th. DA Davidson restated a “hold” rating and set a $210.00 target price on shares of Martin Marietta Materials in a research note on Sunday, October 9th. Finally, Jefferies Group restated a “hold” rating on shares of Martin Marietta Materials in a research note on Wednesday, August 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. Martin Marietta Materials presently has a consensus rating of “Hold” and a consensus target price of $203.00.

In other news, Director David G. Maffucci sold 6,779 shares of Martin Marietta Materials 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 directly owns 20,326 shares of the company’s stock, valued at approximately $4,063,167.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Roselyn R. Bar sold 5,830 shares of Martin Marietta Materials stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $199.98, for a total value 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 disclosure for this sale can be found here. 1.06% of the stock is owned by insiders.

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.

5 Day Chart for NYSE:MLM

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