Panagora Asset Management Inc. Decreases Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Panagora Asset Management Inc. trimmed its position in shares of Martin Marietta Materials, Inc. (NYSE:MLMGet Rating) by 16.3% in the 4th quarter, Holdings Channel reports. The firm owned 5,844 shares of the construction company’s stock after selling 1,139 shares during the period. Panagora Asset Management Inc.’s holdings in Martin Marietta Materials were worth $2,574,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Marshall Wace North America L.P. acquired a new position in shares of Martin Marietta Materials during the 1st quarter worth approximately $62,000. Amundi Pioneer Asset Management Inc. lifted its position in Martin Marietta Materials by 18.5% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 26,779 shares of the construction company’s stock worth $5,387,000 after buying an additional 4,176 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Martin Marietta Materials by 37.3% during the third quarter. Mackenzie Financial Corp now owns 4,200 shares of the construction company’s stock worth $1,435,000 after buying an additional 1,142 shares during the last quarter. Ieq Capital LLC purchased a new stake in Martin Marietta Materials in the 3rd quarter valued at $207,000. Finally, Commerce Bank raised its holdings in shares of Martin Marietta Materials by 14.4% during the 3rd quarter. Commerce Bank now owns 2,924 shares of the construction company’s stock worth $999,000 after acquiring an additional 368 shares during the period. Institutional investors own 93.49% of the company’s stock.

NYSE MLM opened at $332.84 on Friday. The company has a current ratio of 2.79, a quick ratio of 1.69 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $20.76 billion, a PE ratio of 31.64, a price-to-earnings-growth ratio of 1.29 and a beta of 0.79. The business’s 50-day moving average price is $368.62 and its 200 day moving average price is $393.00. Martin Marietta Materials, Inc. has a twelve month low of $316.73 and a twelve month high of $446.46.

Martin Marietta Materials (NYSE:MLMGet Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The construction company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.44). Martin Marietta Materials had a return on equity of 11.42% and a net margin of 11.63%. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the firm earned $1.04 EPS. The company’s revenue for the quarter was up 25.3% compared to the same quarter last year. Equities analysts predict that Martin Marietta Materials, Inc. will post 13.42 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 1st will be issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 0.73%. Martin Marietta Materials’s dividend payout ratio is currently 23.19%.

Several research analysts recently weighed in on MLM shares. StockNews.com lowered Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Thursday. Barclays decreased their target price on Martin Marietta Materials from $485.00 to $450.00 and set an “overweight” rating on the stock in a research note on Friday, February 11th. Morgan Stanley decreased their target price on Martin Marietta Materials from $470.00 to $441.00 and set an “overweight” rating for the company in a report on Monday, April 18th. DA Davidson decreased their price objective on shares of Martin Marietta Materials from $465.00 to $450.00 in a research report on Monday, February 14th. Finally, TheStreet lowered Martin Marietta Materials from a “b” rating to a “c+” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $439.00.

About Martin Marietta Materials (Get Rating)

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and 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.

See Also

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

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