Gilder Gagnon Howe & Co. LLC lowered its position in shares of Martin Marietta Materials Inc. (NYSE:MLM) by 1.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 331,148 shares of the company’s stock after selling 5,537 shares during the period. Martin Marietta Materials accounts for approximately 1.3% of Gilder Gagnon Howe & Co. LLC’s holdings, making the stock its 22nd largest position. Gilder Gagnon Howe & Co. LLC owned approximately 0.52% of Martin Marietta Materials worth $63,580,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Checchi Capital Advisers LLC boosted its position 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 worth $132,000 after buying an additional 38 shares in the last quarter. Atria Investments LLC acquired a new position in shares of Martin Marietta Materials during the second quarter worth about $225,000. Beck Mack & Oliver LLC acquired a new position in shares of Martin Marietta Materials during the second quarter worth about $230,000. BB&T Corp acquired a new position in shares of Martin Marietta Materials during the second quarter worth about $258,000. Finally, ING Groep NV acquired a new position in shares of Martin Marietta Materials during the first quarter worth about $233,000. Hedge funds and other institutional investors own 97.11% of the company’s stock.

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

Shares of Martin Marietta Materials Inc. (NYSE:MLM) traded down 0.13% during mid-day trading on Wednesday, reaching $177.97. 215,701 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $178.22 and its 200-day moving average price is $184.12. The stock has a market cap of $11.29 billion, a price-to-earnings ratio of 31.71 and a beta of 1.36. Martin Marietta Materials Inc. has a 12-month low of $108.31 and a 12-month high of $206.36.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.02 by $0.12. The company had revenue of $915.40 million for the quarter, compared to the consensus estimate of $953.30 million. Martin Marietta Materials had a net margin of 9.96% and a return on equity of 9.36%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.22 EPS. Equities research analysts forecast that Martin Marietta Materials Inc. will post $7.14 earnings per share for the current 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. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $1.68 annualized dividend and a dividend yield of 0.94%. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.40. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 30.05%.

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

In other news, EVP Roselyn R. Bar sold 5,830 shares of Martin Marietta Materials stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $199.98, for a total transaction of $1,165,883.40. Following the sale, the executive vice president now owns 42,588 shares in the company, valued at $8,516,748.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director David G. Maffucci sold 6,779 shares of Martin Marietta Materials stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $199.90, for a total transaction of $1,355,122.10. Following the sale, the director now owns 20,326 shares in the company, valued at approximately $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.

5 Day Chart for NYSE:MLM

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