Insider Selling: Martin Marietta Materials Inc. (MLM) CFO Sells $658,263.46 in Stock
Martin Marietta Materials Inc. (NYSE:MLM) CFO Anne H. Lloyd sold 2,929 shares of the business’s stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $224.74, for a total transaction of $658,263.46. Following the sale, the chief financial officer now directly owns 59,503 shares of the company’s stock, valued at $13,372,704.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of Martin Marietta Materials Inc. (NYSE:MLM) opened at 231.50 on Tuesday. The stock has a market capitalization of $14.69 billion, a PE ratio of 36.53 and a beta of 1.35. Martin Marietta Materials Inc. has a 1-year low of $108.31 and a 1-year high of $236.41. The firm has a 50-day moving average of $184.76 and a 200 day moving average of $187.31.
Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Tuesday, November 1st. The company reported $2.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.57 by $0.08. The firm earned $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Martin Marietta Materials had a return on equity of 9.95% and a net margin of 11.03%. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the firm posted $2.04 earnings per share. Analysts predict 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, December 30th. Shareholders of record on Thursday, December 1st will be issued a $0.42 dividend. The ex-dividend date is Tuesday, November 29th. This represents a $1.68 annualized dividend and a yield of 0.73%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 26.50%.
A number of hedge funds and other institutional investors have recently modified their holdings of MLM. Strs Ohio boosted its position in shares of Martin Marietta Materials by 0.7% in the second quarter. Strs Ohio now owns 59,357 shares of the company’s stock valued at $11,396,000 after buying an additional 426 shares during the period. Frontier Capital Management Co. LLC raised its stake in shares of Martin Marietta Materials by 223.2% in the second quarter. Frontier Capital Management Co. LLC now owns 300,772 shares of the company’s stock worth $57,748,000 after buying an additional 207,710 shares in the last quarter. Hanlon Investment Management Inc. bought a new stake in shares of Martin Marietta Materials during the second quarter worth approximately $4,585,000. Public Employees Retirement Association of Colorado raised its stake in shares of Martin Marietta Materials by 56.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 101,208 shares of the company’s stock worth $19,432,000 after buying an additional 36,475 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. bought a new stake in shares of Martin Marietta Materials during the second quarter worth approximately $12,417,000. 96.36% of the stock is owned by institutional investors and hedge funds.
MLM has been the subject of a number of research reports. Zacks Investment Research raised shares of Martin Marietta Materials from a “hold” rating to a “strong-buy” rating and set a $227.00 target price for the company in a research report on Monday, July 18th. Jefferies Group reissued a “hold” rating on shares of Martin Marietta Materials in a research report on Monday, August 1st. DA Davidson increased their target price on shares of Martin Marietta Materials from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, August 3rd. Goldman Sachs Group Inc. downgraded shares of Martin Marietta Materials from a “buy” rating to a “neutral” rating and reduced their target price for the company from $210.00 to $202.00 in a research report on Tuesday, October 11th. Finally, SunTrust Banks Inc. raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $206.00 target price for the company in a research report on Wednesday, October 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $203.43.
About Martin Marietta Materials
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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