Strs Ohio increased its position in Martin Marietta Materials Inc. (NYSE:MLM) by 0.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,357 shares of the company’s stock after buying an additional 426 shares during the period. Strs Ohio’s holdings in Martin Marietta Materials were worth $11,396,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Credit Agricole S A increased its position in shares of Martin Marietta Materials by 1.2% in the first quarter. Credit Agricole S A now owns 9,034 shares of the company’s stock worth $1,441,000 after buying an additional 107 shares during the period. Aviva PLC increased its position in shares of Martin Marietta Materials by 1.0% in the first quarter. Aviva PLC now owns 33,739 shares of the company’s stock worth $5,382,000 after buying an additional 339 shares during the period. ING Groep NV bought a new position in shares of Martin Marietta Materials during the first quarter worth about $233,000. M&T Bank Corp increased its position in shares of Martin Marietta Materials by 336.4% in the first quarter. M&T Bank Corp now owns 9,820 shares of the company’s stock worth $1,566,000 after buying an additional 7,570 shares during the period. Finally, Palisade Capital Management LLC NJ increased its position in shares of Martin Marietta Materials by 3.0% in the first quarter. Palisade Capital Management LLC NJ now owns 27,810 shares of the company’s stock worth $4,436,000 after buying an additional 821 shares during the period. Institutional investors own 97.18% of the company’s stock.
Shares of Martin Marietta Materials Inc. (NYSE:MLM) traded down 1.86% during midday trading on Friday, reaching $179.11. The company’s stock had a trading volume of 1,117,760 shares. Martin Marietta Materials Inc. has a 52-week low of $108.31 and a 52-week high of $206.36. The stock has a market cap of $11.36 billion, a price-to-earnings ratio of 31.91 and a beta of 1.37. The stock has a 50-day moving average price of $185.08 and a 200-day moving average price of $182.34.
Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.02 by $0.12. Martin Marietta Materials had a return on equity of 9.36% and a net margin of 9.96%. The firm earned $915.40 million during the quarter, compared to analysts’ expectations of $953.30 million. During the same quarter in the previous year, the company posted $1.22 earnings per share. Martin Marietta Materials’s revenue for the quarter was up 7.7% compared to the same quarter last year. Equities research analysts anticipate that Martin Marietta Materials Inc. will post $7.19 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 1st were issued a dividend of $0.42 per share. The ex-dividend date was Tuesday, August 30th. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.94%. Martin Marietta Materials’s dividend payout ratio is currently 30.05%.
A number of equities analysts have recently issued reports on the company. Jefferies Group restated a “hold” rating on shares of Martin Marietta Materials in a research report on Monday, August 1st. Zacks Investment Research downgraded Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 19th. DA Davidson lifted their target price on Martin Marietta Materials from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Alembic Global Advisors began coverage on Martin Marietta Materials in a report on Thursday, June 9th. They issued an “overweight” rating and a $220.00 target price for the company. Finally, Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $209.00 target price (up from $191.00) on shares of Martin Marietta Materials in a report on Wednesday, June 8th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Martin Marietta Materials has a consensus rating of “Buy” and a consensus target price of $201.86.
In related news, EVP Roselyn R. Bar sold 5,830 shares of the stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $199.98, for a total transaction of $1,165,883.40. Following the completion of the sale, the executive vice president now directly owns 42,588 shares in the company, valued at approximately $8,516,748.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David G. Maffucci sold 6,779 shares of the stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $199.90, for a total value of $1,355,122.10. Following the sale, the director now owns 20,326 shares of the company’s stock, valued at $4,063,167.40. The disclosure for this sale can be found here. Corporate insiders own 1.06% of the company’s stock.
About Martin Marietta Materials
Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand and gravel) for the construction industry, used for the construction of infrastructure, non-residential, and residential projects. The Company operates through three businesses: Aggregates Business, Cement Business and Magnesia Specialties Business.
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