Legal & General Group Plc Has $67.59 Million Position in Martin Marietta Materials, Inc. (MLM)
Legal & General Group Plc increased its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 2.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 303,657 shares of the construction company’s stock after buying an additional 8,698 shares during the period. Legal & General Group Plc owned approximately 0.48% of Martin Marietta Materials worth $67,586,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of MLM. Geneva Advisors LLC boosted its stake in shares of Martin Marietta Materials by 23.7% in the first quarter. Geneva Advisors LLC now owns 2,371 shares of the construction company’s stock valued at $517,000 after buying an additional 455 shares in the last quarter. Kornitzer Capital Management Inc. KS acquired a new stake in Martin Marietta Materials during the first quarter valued at $262,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Martin Marietta Materials by 0.4% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 10,390 shares of the construction company’s stock valued at $2,268,000 after buying an additional 42 shares during the period. Advisory Services Network LLC acquired a new stake in Martin Marietta Materials during the first quarter valued at $1,370,000. Finally, Advisor Partners LLC boosted its stake in Martin Marietta Materials by 11.6% in the first quarter. Advisor Partners LLC now owns 1,225 shares of the construction company’s stock valued at $267,000 after buying an additional 127 shares during the period. Institutional investors own 98.25% of the company’s stock.
Martin Marietta Materials, Inc. (NYSE:MLM) opened at 195.54 on Friday. The company’s 50-day moving average price is $215.04 and its 200-day moving average price is $220.57. Martin Marietta Materials, Inc. has a 52-week low of $167.06 and a 52-week high of $244.32. The company has a market cap of $12.29 billion, a price-to-earnings ratio of 28.14 and a beta of 1.14.
Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Tuesday, August 1st. The construction company reported $2.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.38 by $0.13. Martin Marietta Materials had a net margin of 11.19% and a return on equity of 10.69%. The business had revenue of $996.30 million during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the business earned $1.90 EPS. The business’s quarterly revenue was up 8.8% on a year-over-year basis. Equities research analysts expect that Martin Marietta Materials, Inc. will post $7.14 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Tuesday, September 5th will be given a dividend of $0.44 per share. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Thursday, August 31st. Martin Marietta Materials’s payout ratio is 24.14%.
Several research firms have weighed in on MLM. Stephens increased their price objective on Martin Marietta Materials from $246.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, May 4th. Stifel Nicolaus increased their price objective on Martin Marietta Materials from $258.00 to $265.00 and gave the stock a “buy” rating in a report on Wednesday, May 3rd. BidaskClub upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Zacks Investment Research cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Finally, Jefferies Group LLC set a $166.00 target price on Martin Marietta Materials and gave the stock a “hold” rating in a research report on Monday, August 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $220.57.
In other news, Director John J. Koraleski acquired 500 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was acquired at an average cost of $198.37 per share, with a total value of $99,185.00. Following the transaction, the director now owns 1,439 shares in the company, valued at $285,454.43. The transaction was disclosed in a document filed with the SEC, which is available at this link. 8.45% of the stock is currently owned by insiders.
Martin Marietta Materials Company Profile
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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