M&T Bank Corp lowered its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 7.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,089 shares of the construction company’s stock after selling 339 shares during the quarter. M&T Bank Corp’s holdings in Martin Marietta Materials were worth $910,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. grew its holdings in Martin Marietta Materials by 3,137.5% during the first quarter. BlackRock Inc. now owns 3,736,667 shares of the construction company’s stock worth $815,527,000 after acquiring an additional 3,621,250 shares during the period. Egerton Capital UK LLP boosted its position in shares of Martin Marietta Materials by 329.1% during the 2nd quarter. Egerton Capital UK LLP now owns 1,967,865 shares of the construction company’s stock worth $438,007,000 after purchasing an additional 1,509,258 shares in the last quarter. Harbour Capital Advisors LLC boosted its position in shares of Martin Marietta Materials by 22,705.9% during the 2nd quarter. Harbour Capital Advisors LLC now owns 370,596 shares of the construction company’s stock worth $1,665,000 after purchasing an additional 368,971 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Martin Marietta Materials by 21.8% during the 1st quarter. Principal Financial Group Inc. now owns 1,333,161 shares of the construction company’s stock worth $290,962,000 after purchasing an additional 238,711 shares during the period. Finally, Janus Capital Management LLC grew its stake in shares of Martin Marietta Materials by 101.2% during the 1st quarter. Janus Capital Management LLC now owns 424,223 shares of the construction company’s stock worth $92,587,000 after purchasing an additional 213,335 shares during the period. Institutional investors own 95.78% of the company’s stock.

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Shares of Martin Marietta Materials, Inc. (NYSE:MLM) opened at 204.99 on Tuesday. The firm has a market cap of $12.88 billion, a P/E ratio of 29.50 and a beta of 1.13. Martin Marietta Materials, Inc. has a 52-week low of $167.06 and a 52-week high of $244.32. The company’s 50-day moving average is $203.42 and its 200-day moving average is $218.12.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Tuesday, August 1st. The construction company reported $2.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.38 by ($0.13). The firm had revenue of $996.30 million for the quarter, compared to analyst estimates of $1.01 billion. Martin Marietta Materials had a net margin of 11.19% and a return on equity of 10.69%. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.90 earnings per share. Equities research 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 was paid on Friday, September 29th. Shareholders of record on Tuesday, September 5th were paid a $0.44 dividend. The ex-dividend date was Thursday, August 31st. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.42. This represents a $1.76 dividend on an annualized basis and a yield of 0.86%. Martin Marietta Materials’s payout ratio is 25.29%.

MLM has been the subject of a number of research analyst reports. BidaskClub upgraded shares of 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 investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus 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 firm’s stock in a transaction on Friday, August 18th. The stock was bought at an average cost of $198.37 per share, with a total value of $99,185.00. Following the completion of the transaction, the director now directly owns 1,439 shares of the company’s stock, valued at approximately $285,454.43. The purchase was disclosed in a document filed with the SEC, which is available through this link. 8.45% of the stock is 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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Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

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