Mitsubishi UFJ Trust & Banking Corp reduced its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 5.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 386,096 shares of the construction company’s stock after selling 20,947 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.61% of Martin Marietta Materials worth $85,937,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of MLM. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Martin Marietta Materials by 28.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,678 shares of the construction company’s stock worth $1,021,000 after buying an additional 1,040 shares during the last quarter. Engineers Gate Manager LP purchased a new position in shares of Martin Marietta Materials during the first quarter worth about $2,117,000. Confluence Investment Management LLC increased its position in shares of Martin Marietta Materials by 2.1% in the second quarter. Confluence Investment Management LLC now owns 350,902 shares of the construction company’s stock worth $78,104,000 after buying an additional 7,097 shares during the last quarter. Patriot Wealth Management Inc. purchased a new position in shares of Martin Marietta Materials during the second quarter worth about $6,040,000. Finally, Legal & General Group Plc increased its position in shares of Martin Marietta Materials by 5.1% in the first quarter. Legal & General Group Plc now owns 294,959 shares of the construction company’s stock worth $64,373,000 after buying an additional 14,335 shares during the last quarter. 98.25% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Martin Marietta Materials, Inc. (NYSE MLM) opened at 195.54 on Friday. The stock has a market cap of $12.29 billion, a P/E ratio of 28.14 and a beta of 1.14. The firm’s 50-day moving average is $215.04 and its 200 day moving average is $220.57. Martin Marietta Materials, Inc. has a 52-week low of $167.06 and a 52-week high of $244.32.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Tuesday, August 1st. The construction company reported $2.25 earnings per share (EPS) for the quarter, missing the Zacks’ 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 analyst estimates of $1.01 billion. During the same period in the previous year, the company earned $1.90 earnings per share. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. Analysts forecast that Martin Marietta Materials, Inc. will post $7.14 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Tuesday, September 5th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.90%. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Thursday, August 31st. Martin Marietta Materials’s dividend payout ratio is presently 24.14%.

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MLM has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price objective on shares of Martin Marietta Materials from $258.00 to $265.00 and gave the stock a “buy” rating in a research report on Wednesday, May 3rd. Jefferies Group LLC set a $166.00 price objective on shares of Martin Marietta Materials and gave the stock a “hold” rating in a research report on Monday, August 21st. Zacks Investment Research downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. BidaskClub raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Finally, Stephens lifted their price objective on shares of Martin Marietta Materials from $246.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $220.57.

In other Martin Marietta Materials news, Director John J. Koraleski bought 500 shares of the business’s stock in a transaction on Friday, August 18th. The shares were bought at an average cost of $198.37 per share, with a total value of $99,185.00. Following the transaction, the director now directly owns 1,439 shares in the company, valued at approximately $285,454.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.45% of the company’s stock.

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.

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

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