Riverhead Capital Management LLC trimmed its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 4.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,297 shares of the construction company’s stock after selling 200 shares during the quarter. Riverhead Capital Management LLC’s holdings in Martin Marietta Materials were worth $989,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Great Lakes Advisors LLC bought a new position in shares of Martin Marietta Materials during the first quarter worth about $4,508,000. Meridian Wealth Management LLC acquired a new stake in shares of Martin Marietta Materials in the first quarter valued at approximately $64,000. Northern Trust Corp raised its holdings in shares of Martin Marietta Materials by 1.6% in the first quarter. Northern Trust Corp now owns 714,199 shares of the construction company’s stock valued at $143,684,000 after purchasing an additional 10,945 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new stake in shares of Martin Marietta Materials in the second quarter valued at approximately $41,050,000. Finally, Advisory Services Network LLC lifted its position in shares of Martin Marietta Materials by 68.1% in the first quarter. Advisory Services Network LLC now owns 6,681 shares of the construction company’s stock worth $1,344,000 after purchasing an additional 2,706 shares in the last quarter.

In other news, EVP Roselyn R. Bar sold 2,821 shares of Martin Marietta Materials stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $246.93, for a total transaction of $696,589.53. Following the completion of the transaction, the executive vice president now directly owns 57,149 shares in the company, valued at approximately $14,111,802.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO C Howard Nye sold 7,440 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $253.52, for a total value of $1,886,188.80. Following the transaction, the chief executive officer now directly owns 154,544 shares in the company, valued at $39,179,994.88. The disclosure for this sale can be found here. Insiders have sold a total of 21,485 shares of company stock worth $5,317,618 over the last 90 days. 0.73% of the stock is owned by company insiders.

MLM has been the subject of several recent research reports. Jefferies Financial Group increased their target price on shares of Martin Marietta Materials from $265.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price target on shares of Martin Marietta Materials from $265.00 to $285.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. ValuEngine upgraded shares of Martin Marietta Materials from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Longbow Research set a $265.00 price target on shares of Martin Marietta Materials and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, DA Davidson upgraded shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $227.22 price objective for the company in a research note on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Martin Marietta Materials currently has a consensus rating of “Buy” and a consensus target price of $230.66.

Shares of NYSE:MLM traded down $0.57 during midday trading on Wednesday, hitting $256.25. The stock had a trading volume of 7,168 shares, compared to its average volume of 495,106. The company has a market cap of $15.93 billion, a P/E ratio of 31.67, a PEG ratio of 2.37 and a beta of 1.11. Martin Marietta Materials, Inc. has a 12 month low of $150.75 and a 12 month high of $264.39. The business’s 50-day simple moving average is $248.09 and its 200-day simple moving average is $221.49. The company has a quick ratio of 1.08, a current ratio of 1.86 and a debt-to-equity ratio of 0.62.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Tuesday, July 30th. The construction company reported $3.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.08 by ($0.07). The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. Martin Marietta Materials had a return on equity of 10.35% and a net margin of 11.37%. The business’s revenue was up 6.4% compared to the same quarter last year. During the same period last year, the company posted $3.25 earnings per share. As a group, equities analysts predict that Martin Marietta Materials, Inc. will post 9.35 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, August 30th. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.48. This represents a $2.20 annualized dividend and a dividend yield of 0.86%. Martin Marietta Materials’s payout ratio is currently 27.19%.

About Martin Marietta Materials

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy building materials to the construction industry in the United States and internationally. The company offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.

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

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