Maverick Capital Ltd. cut its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 36.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 491,760 shares of the construction company’s stock after selling 281,429 shares during the period. Martin Marietta Materials comprises about 1.4% of Maverick Capital Ltd.’s holdings, making the stock its 27th largest position. Maverick Capital Ltd. owned about 0.78% of Martin Marietta Materials worth $109,456,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Sun Life Financial INC boosted its position in shares of Martin Marietta Materials by 6,442.9% in the 2nd quarter. Sun Life Financial INC now owns 458 shares of the construction company’s stock worth $102,000 after buying an additional 451 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Martin Marietta Materials by 130.9% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 538 shares of the construction company’s stock worth $120,000 after buying an additional 305 shares in the last quarter. Dupont Capital Management Corp purchased a new stake in shares of Martin Marietta Materials in the 2nd quarter worth about $128,000. Northwest Investment Counselors LLC purchased a new stake in shares of Martin Marietta Materials in the 2nd quarter worth about $134,000. Finally, FNY Partners Fund LP purchased a new stake in shares of Martin Marietta Materials in the 1st quarter worth about $174,000. Institutional investors and hedge funds own 95.78% of the company’s stock.

In related news, Director John J. Koraleski purchased 500 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The stock was acquired at an average price of $198.37 per share, for a total transaction of $99,185.00. Following the transaction, 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 accessible through this hyperlink. Company insiders own 8.45% of the company’s stock.

Several equities research analysts recently commented on MLM shares. 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 lowered shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Finally, BidaskClub upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $220.57.

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Martin Marietta Materials, Inc. (NYSE:MLM) traded up 1.677% on Thursday, reaching $209.425. 145,642 shares of the company’s stock were exchanged. The firm’s 50 day moving average is $203.44 and its 200 day moving average is $218.00. Martin Marietta Materials, Inc. has a 1-year low of $167.06 and a 1-year high of $244.32. The stock has a market capitalization of $13.16 billion, a P/E ratio of 30.137 and a beta of 1.13.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Tuesday, August 1st. The construction company reported $2.25 earnings per share 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 company had revenue of $996.30 million during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the business earned $1.90 EPS. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. Analysts expect that Martin Marietta Materials, Inc. will post $7.14 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Tuesday, September 5th were given a $0.44 dividend. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.42. The ex-dividend date was Thursday, August 31st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.85%. Martin Marietta Materials’s dividend payout ratio (DPR) is 25.29%.

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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