Cornerstone Capital Management Holdings LLC. lowered its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 1.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,816 shares of the construction company’s stock after selling 198 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in Martin Marietta Materials were worth $2,406,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of MLM. Neuberger Berman Group LLC lifted its position in Martin Marietta Materials by 102.8% during the first quarter. Neuberger Berman Group LLC now owns 2,584 shares of the construction company’s stock worth $564,000 after buying an additional 1,310 shares during the period. OppenheimerFunds Inc. lifted its position in Martin Marietta Materials by 26.8% during the first quarter. OppenheimerFunds Inc. now owns 2,233 shares of the construction company’s stock worth $487,000 after buying an additional 472 shares during the period. Teachers Advisors LLC lifted its position in Martin Marietta Materials by 58.7% during the first quarter. Teachers Advisors LLC now owns 110,889 shares of the construction company’s stock worth $24,202,000 after buying an additional 41,017 shares during the period. Schwab Charles Investment Management Inc. lifted its position in Martin Marietta Materials by 4.9% during the first quarter. Schwab Charles Investment Management Inc. now owns 226,028 shares of the construction company’s stock worth $49,331,000 after buying an additional 10,467 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its position in Martin Marietta Materials by 33.5% during the first quarter. Oppenheimer & Co. Inc. now owns 18,887 shares of the construction company’s stock worth $4,122,000 after buying an additional 4,739 shares during the period. 95.72% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts recently weighed in on the company. Citigroup Inc. reiterated a “buy” rating and set a $260.00 target price (down from $270.00) on shares of Martin Marietta Materials in a research report on Monday, October 9th. 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. BidaskClub downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, Zacks Investment Research downgraded Martin Marietta Materials from a “buy” rating to a “hold” rating in a research report on Friday, July 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $244.20.

In related news, Director John J. Koraleski purchased 500 shares of Martin Marietta Materials stock in a transaction on 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 completion of the transaction, the director now directly owns 1,439 shares of the company’s stock, valued at $285,454.43. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 8.45% of the stock is owned by insiders.

ILLEGAL ACTIVITY WARNING: “Cornerstone Capital Management Holdings LLC. Has $2.41 Million Position in Martin Marietta Materials, Inc. (MLM)” was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this report on another publication, it was copied illegally and reposted in violation of United States & international copyright law. The legal version of this report can be viewed at https://www.thecerbatgem.com/2017/10/18/cornerstone-capital-management-holdings-llc-has-2-41-million-position-in-martin-marietta-materials-inc-mlm.html.

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) opened at 203.48 on Wednesday. Martin Marietta Materials, Inc. has a one year low of $172.38 and a one year high of $244.32. The company’s 50 day moving average price is $204.62 and its 200 day moving average price is $217.81. The stock has a market capitalization of $12.79 billion, a P/E ratio of 29.28 and a beta of 1.13.

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

The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Tuesday, September 5th were given 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 0.86%. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.42. Martin Marietta Materials’s payout ratio is currently 25.29%.

About Martin Marietta Materials

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.

Want to see what other hedge funds are holding MLM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Martin Marietta Materials, Inc. (NYSE:MLM).

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

Receive News & Stock Ratings for Martin Marietta Materials Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Martin Marietta Materials Inc. and related stocks with our FREE daily email newsletter.