Axa trimmed its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 3.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 11,754 shares of the construction company’s stock after selling 446 shares during the period. Axa’s holdings in Martin Marietta Materials were worth $2,616,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in MLM. BlackRock Inc. lifted its stake in shares of Martin Marietta Materials by 3,137.5% in the 1st quarter. BlackRock Inc. now owns 3,736,667 shares of the construction company’s stock valued at $815,527,000 after acquiring an additional 3,621,250 shares during the last quarter. Egerton Capital UK LLP lifted its stake in shares of Martin Marietta Materials by 329.1% in the 2nd quarter. Egerton Capital UK LLP now owns 1,967,865 shares of the construction company’s stock valued at $438,007,000 after acquiring an additional 1,509,258 shares during the last quarter. Iridian Asset Management LLC CT lifted its stake in shares of Martin Marietta Materials by 83.4% in the 1st quarter. Iridian Asset Management LLC CT now owns 1,060,115 shares of the construction company’s stock valued at $231,370,000 after acquiring an additional 482,165 shares during the last quarter. Harbour Capital Advisors LLC lifted its stake in shares of Martin Marietta Materials by 22,705.9% in the 2nd quarter. Harbour Capital Advisors LLC now owns 370,596 shares of the construction company’s stock valued at $1,665,000 after acquiring an additional 368,971 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Martin Marietta Materials by 21.8% in the 1st quarter. Principal Financial Group Inc. now owns 1,333,161 shares of the construction company’s stock valued at $290,962,000 after acquiring an additional 238,711 shares during the last quarter. Institutional investors own 95.78% of the company’s stock.

In other Martin Marietta Materials news, Director John J. Koraleski purchased 500 shares of the stock in a transaction on 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 completion of the purchase, the director now directly owns 1,439 shares of the company’s stock, valued at approximately $285,454.43. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 8.45% of the company’s stock.

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Martin Marietta Materials, Inc. (NYSE MLM) opened at 199.15 on Wednesday. Martin Marietta Materials, Inc. has a 12 month low of $167.06 and a 12 month high of $244.32. The company’s 50-day moving average price is $205.93 and its 200 day moving average price is $218.82. The company has a market capitalization of $12.51 billion, a price-to-earnings ratio of 28.66 and a beta of 1.15.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Tuesday, August 1st. The construction company reported $2.25 earnings per share for the quarter, missing the consensus estimate of $2.38 by ($0.13). The business had revenue of $996.30 million during the quarter, compared to the consensus estimate of $1.01 billion. Martin Marietta Materials had a return on equity of 10.69% and a net margin of 11.19%. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.90 earnings per share. Analysts forecast that Martin Marietta Materials, Inc. will post $7.14 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Tuesday, September 5th will be paid a $0.44 dividend. The ex-dividend date is Thursday, August 31st. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a yield of 0.88%. Martin Marietta Materials’s payout ratio is currently 25.29%.

A number of research analysts have recently commented on the company. BidaskClub upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Zacks Investment Research upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Monday, September 4th. Finally, Jefferies Group LLC set a $166.00 price target on Martin Marietta Materials and gave the company a “hold” rating in a research note on Monday, August 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $220.57.

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

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