Kingdon Capital Management L.L.C. acquired a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 122,931 shares of the construction company’s stock, valued at approximately $27,362,000. Martin Marietta Materials makes up approximately 1.9% of Kingdon Capital Management L.L.C.’s investment portfolio, making the stock its 13th biggest holding. Kingdon Capital Management L.L.C. owned about 0.20% of Martin Marietta Materials as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. Profund Advisors LLC boosted its position in Martin Marietta Materials by 0.3% during the second quarter. Profund Advisors LLC now owns 1,600 shares of the construction company’s stock valued at $356,000 after purchasing an additional 5 shares in the last quarter. First National Bank of Hutchinson boosted its position in Martin Marietta Materials by 0.3% during the second quarter. First National Bank of Hutchinson now owns 2,214 shares of the construction company’s stock valued at $505,000 after purchasing an additional 6 shares in the last quarter. L & S Advisors Inc boosted its position in Martin Marietta Materials by 0.8% during the second quarter. L & S Advisors Inc now owns 3,091 shares of the construction company’s stock valued at $688,000 after purchasing an additional 26 shares in the last quarter. CIBC Asset Management Inc boosted its position in Martin Marietta Materials by 0.3% during the second quarter. CIBC Asset Management Inc now owns 9,431 shares of the construction company’s stock valued at $2,099,000 after purchasing an additional 27 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. boosted its position in Martin Marietta Materials by 0.7% during the second quarter. Candriam Luxembourg S.C.A. now owns 4,438 shares of the construction company’s stock valued at $988,000 after purchasing an additional 30 shares in the last quarter. 95.78% of the stock is currently owned by institutional investors.

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In other Martin Marietta Materials news, Director John J. Koraleski acquired 500 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were acquired at an average price of $198.37 per share, for a total transaction of $99,185.00. Following the acquisition, the director now owns 1,439 shares in the company, valued at approximately $285,454.43. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 8.45% of the company’s stock.

A number of brokerages recently weighed in on MLM. Zacks Investment Research raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Tuesday, September 12th. Jefferies Group LLC set a $166.00 price objective on Martin Marietta Materials and gave the company a “hold” rating in a research report on Monday, August 21st. Finally, BidaskClub downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $220.57.

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) traded down 1.66% during midday trading on Friday, reaching $206.43. The company’s stock had a trading volume of 237,842 shares. The company has a market cap of $12.97 billion, a P/E ratio of 29.71 and a beta of 1.13. Martin Marietta Materials, Inc. has a 12-month low of $167.06 and a 12-month high of $244.32. The stock’s 50-day moving average price is $203.58 and its 200-day moving average price is $217.94.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Tuesday, August 1st. The construction company reported $2.25 EPS for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the company posted $1.90 EPS. The company’s revenue was up 8.8% compared to the same quarter last year. On average, analysts expect that Martin Marietta Materials, Inc. will post $7.14 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Tuesday, September 5th were issued a $0.44 dividend. The ex-dividend date was Thursday, August 31st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.84%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.42. Martin Marietta Materials’s dividend payout ratio is presently 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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