Vontobel Asset Management Inc. cut its position in shares of Martin Marietta Materials Inc. (NYSE:MLM) by 3.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 884,105 shares of the company’s stock after selling 31,004 shares during the period. Vontobel Asset Management Inc. owned approximately 1.39% of Martin Marietta Materials worth $163,605,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Adage Capital Partners GP L.L.C. increased its position in shares of Martin Marietta Materials by 513.2% in the second quarter. Adage Capital Partners GP L.L.C. now owns 685,002 shares of the company’s stock worth $131,520,000 after buying an additional 573,300 shares during the period. Egerton Capital UK LLP increased its position in shares of Martin Marietta Materials by 53.4% in the second quarter. Egerton Capital UK LLP now owns 1,472,952 shares of the company’s stock worth $282,807,000 after buying an additional 512,574 shares during the period. FMR LLC increased its position in shares of Martin Marietta Materials by 16.7% in the second quarter. FMR LLC now owns 2,362,045 shares of the company’s stock worth $453,512,000 after buying an additional 338,399 shares during the period. Capital Growth Management LP increased its position in shares of Martin Marietta Materials by 73.1% in the second quarter. Capital Growth Management LP now owns 580,000 shares of the company’s stock worth $111,360,000 after buying an additional 245,000 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Martin Marietta Materials by 38.6% in the second quarter. Bank of New York Mellon Corp now owns 813,382 shares of the company’s stock worth $156,170,000 after buying an additional 226,403 shares during the period. 97.35% of the stock is owned by hedge funds and other institutional investors.

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

Shares of Martin Marietta Materials Inc. (NYSE:MLM) traded up 1.43% during midday trading on Monday, hitting $222.82. The company had a trading volume of 748,118 shares. The company has a market cap of $14.14 billion, a price-to-earnings ratio of 35.16 and a beta of 1.35. Martin Marietta Materials Inc. has a 12 month low of $108.31 and a 12 month high of $236.41. The stock’s 50-day moving average price is $190.49 and its 200-day moving average price is $189.21.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data 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. Martin Marietta Materials had a return on equity of 9.95% and a net margin of 11.03%. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the firm earned $2.04 earnings per share. Martin Marietta Materials’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, equities research analysts forecast that Martin Marietta Materials Inc. will post $7.14 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 1st will be issued a dividend of $0.42 per share. The ex-dividend date is Tuesday, November 29th. This represents a $1.68 annualized dividend and a yield of 0.75%. Martin Marietta Materials’s dividend payout ratio is presently 26.50%.

A number of equities analysts recently issued reports on MLM shares. Zacks Investment Research downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. SunTrust Banks Inc. raised Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $206.00 price objective for the company in a report on Wednesday, October 26th. Jefferies Group reissued a “hold” rating on shares of Martin Marietta Materials in a report on Monday, August 1st. DA Davidson increased their price objective on Martin Marietta Materials from $190.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, August 3rd. Finally, Bank of America Corp. downgraded Martin Marietta Materials from a “buy” rating to a “neutral” rating in a report on Wednesday, November 16th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $203.43.

In other Martin Marietta Materials news, Chairman C Howard Nye sold 8,691 shares of Martin Marietta Materials stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $224.68, for a total transaction of $1,952,693.88. Following the sale, the chairman now directly owns 120,406 shares in the company, valued at approximately $27,052,820.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Anne H. Lloyd sold 2,929 shares of Martin Marietta Materials stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $224.74, for a total value of $658,263.46. Following the sale, the chief financial officer now owns 59,503 shares in the company, valued at $13,372,704.22. The disclosure for this sale can be found here. Company insiders own 1.06% of the company’s stock.

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.

5 Day Chart for NYSE:MLM

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