Martin Marietta Materials, Inc. (MLM) Position Reduced by Nationwide Fund Advisors
Nationwide Fund Advisors decreased its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 17.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,955 shares of the construction company’s stock after selling 10,006 shares during the period. Nationwide Fund Advisors owned about 0.07% of Martin Marietta Materials worth $10,248,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of MLM. FineMark National Bank & Trust increased its position in Martin Marietta Materials by 96.8% in the third quarter. FineMark National Bank & Trust now owns 610 shares of the construction company’s stock worth $109,000 after buying an additional 300 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in Martin Marietta Materials during the fourth quarter valued at $177,000. Sunbelt Securities Inc. bought a new stake in Martin Marietta Materials during the fourth quarter valued at $197,000. Calamos Advisors LLC bought a new stake in Martin Marietta Materials during the fourth quarter valued at $206,000. Finally, Frontier Wealth Management LLC bought a new stake in Martin Marietta Materials during the fourth quarter valued at $208,000. 97.26% of the stock is owned by hedge funds and other institutional investors.
Shares of Martin Marietta Materials, Inc. (NYSE:MLM) traded up 0.07% on Friday, hitting $229.43. The stock had a trading volume of 74,394 shares. Martin Marietta Materials, Inc. has a 12 month low of $167.06 and a 12 month high of $244.32. The firm has a market cap of $14.40 billion, a P/E ratio of 34.63 and a beta of 1.41. The firm’s 50-day moving average price is $223.56 and its 200 day moving average price is $221.01.
Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Tuesday, May 2nd. The construction company reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.05. Martin Marietta Materials had a net margin of 11.03% and a return on equity of 9.95%. The firm had revenue of $791.70 million during the quarter, compared to analysts’ expectations of $729.28 million. During the same quarter last year, the business earned $0.69 earnings per share. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. Analysts anticipate that Martin Marietta Materials, Inc. will post $7.14 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 1st will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 0.73%. Martin Marietta Materials’s payout ratio is currently 26.50%.
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Several equities analysts recently issued reports on the company. Zacks Investment Research cut Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a research report on Friday, February 17th. Stephens upped their price objective on Martin Marietta Materials from $246.00 to $250.00 and gave the company an “equal weight” rating in a research report on Thursday, May 4th. Cleveland Research raised Martin Marietta Materials from a “neutral” rating to a “buy” rating in a report on Friday, March 31st. Stifel Nicolaus increased their price target on Martin Marietta Materials from $258.00 to $265.00 and gave the company a “buy” rating in a report on Wednesday, May 3rd. Finally, Citigroup Inc began coverage on Martin Marietta Materials in a report on Wednesday, March 29th. They issued a “buy” rating and a $245.00 target price on the stock. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Martin Marietta Materials has a consensus rating of “Hold” and an average target price of $228.13.
In related news, Director Sue W. Cole sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, March 10th. The shares were sold at an average price of $212.12, for a total value of $636,360.00. Following the completion of the sale, the director now directly owns 23,069 shares in the company, valued at $4,893,396.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Donald A. Mccunniff sold 1,391 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $240.17, for a total transaction of $334,076.47. Following the completion of the sale, the senior vice president now owns 19,858 shares of the company’s stock, valued at $4,769,295.86. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,121 shares of company stock valued at $4,968,800. 1.06% of the stock is currently owned by company insiders.
About Martin Marietta Materials
Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.
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