Roosevelt Investment Group Inc. Acquires 26,072 Shares of Martin Marietta Materials, Inc. (MLM)
Roosevelt Investment Group Inc. boosted its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 69.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 63,500 shares of the construction company’s stock after acquiring an additional 26,072 shares during the quarter. Martin Marietta Materials accounts for 1.3% of Roosevelt Investment Group Inc.’s holdings, making the stock its 29th largest holding. Roosevelt Investment Group Inc. owned 0.10% of Martin Marietta Materials worth $14,134,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in MLM. First Personal Financial Services boosted its position in Martin Marietta Materials by 4.5% in the first quarter. First Personal Financial Services now owns 513 shares of the construction company’s stock valued at $112,000 after buying an additional 22 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Martin Marietta Materials by 130.9% in the second quarter. Robeco Institutional Asset Management B.V. now owns 538 shares of the construction company’s stock valued at $120,000 after buying an additional 305 shares in the last quarter. Dupont Capital Management Corp acquired a new stake in Martin Marietta Materials in the second quarter valued at approximately $128,000. Northwest Investment Counselors LLC acquired a new stake in Martin Marietta Materials in the second quarter valued at approximately $134,000. Finally, FNY Partners Fund LP acquired a new stake in Martin Marietta Materials in the first quarter valued at approximately $174,000. 95.80% of the stock is currently owned by institutional investors and hedge funds.
MLM has been the topic of a number of research analyst reports. BidaskClub upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Zacks Investment Research lowered shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a research report on Friday, July 14th. Finally, Jefferies Group LLC set a $166.00 target price on shares of Martin Marietta Materials and gave the company 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 company’s stock. Martin Marietta Materials has a consensus rating of “Hold” and an average price target of $220.57.
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Shares of Martin Marietta Materials, Inc. (NYSE MLM) remained flat at $204.27 during trading on Tuesday. The company’s stock had a trading volume of 218,506 shares. The firm has a 50 day moving average of $210.47 and a 200 day moving average of $219.59. The stock has a market capitalization of $12.84 billion, a price-to-earnings ratio of 29.40 and a beta of 1.15. Martin Marietta Materials, Inc. has a one year low of $167.06 and a one year high of $244.32.
Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data 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 analysts’ expectations of $1.01 billion. During the same period last year, the company posted $1.90 EPS. Martin Marietta Materials’s revenue for the quarter was up 8.8% on a year-over-year basis. 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, September 29th. Stockholders of record on Tuesday, September 5th will be paid a $0.44 dividend. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.86%. Martin Marietta Materials’s dividend payout ratio is 25.29%.
In other Martin Marietta Materials news, Director John J. Koraleski acquired 500 shares of the business’s stock in a transaction dated Friday, August 18th. The stock was bought at an average price of $198.37 per share, with a total value of $99,185.00. Following the purchase, the director now owns 1,439 shares of the company’s stock, valued at $285,454.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.45% of the stock is currently owned by corporate insiders.
Martin Marietta Materials 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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