Martin Marietta Materials Inc. (MLM) Chairman Sells $1,952,693.88 in Stock
Martin Marietta Materials Inc. (NYSE:MLM) Chairman C Howard Nye sold 8,691 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $224.68, for a total value of $1,952,693.88. Following the transaction, the chairman now owns 120,406 shares of the company’s stock, valued at approximately $27,052,820.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Martin Marietta Materials Inc. (NYSE:MLM) opened at 231.50 on Tuesday. The stock has a market cap of $14.69 billion, a price-to-earnings ratio of 36.53 and a beta of 1.35. The company has a 50 day moving average price of $184.76 and a 200-day moving average price of $187.31. Martin Marietta Materials Inc. has a one year low of $108.31 and a one year high of $236.41.
Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Tuesday, November 1st. The company reported $2.49 earnings per share for the quarter, missing the consensus estimate of $2.57 by $0.08. Martin Marietta Materials had a return on equity of 9.95% and a net margin of 11.03%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the company earned $2.04 EPS. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities analysts predict that Martin Marietta Materials Inc. will post $7.14 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 1st will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $1.68 annualized dividend and a dividend yield of 0.73%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 26.50%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caledonia Private Investments Pty Ltd increased its position in Martin Marietta Materials by 20.0% in the first quarter. Caledonia Private Investments Pty Ltd now owns 519,453 shares of the company’s stock valued at $82,858,000 after buying an additional 86,658 shares during the period. Squarepoint Ops LLC bought a new position in Martin Marietta Materials during the first quarter valued at $748,000. Amici Capital LLC bought a new position in Martin Marietta Materials during the first quarter valued at $4,466,000. Westend Capital Management LLC bought a new position in Martin Marietta Materials during the first quarter valued at $919,000. Finally, Ulysses Management LLC increased its position in Martin Marietta Materials by 4.6% in the first quarter. Ulysses Management LLC now owns 113,000 shares of the company’s stock valued at $18,024,000 after buying an additional 5,000 shares during the period. Hedge funds and other institutional investors own 96.36% of the company’s stock.
Several research analysts have issued reports on the company. Jefferies Group restated a “hold” rating on shares of Martin Marietta Materials in a research report on Monday, August 1st. Zacks Investment Research lowered Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 19th. DA Davidson boosted their target price on Martin Marietta Materials from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, August 3rd. SunTrust Banks Inc. upgraded 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. Finally, Goldman Sachs Group Inc. lowered Martin Marietta Materials from a “buy” rating to a “neutral” rating and dropped their target price for the company from $210.00 to $202.00 in a research report on Tuesday, October 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $203.43.
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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