BlackRock Inc. raised its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 1.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,910,444 shares of the construction company’s stock after buying an additional 48,775 shares during the quarter. BlackRock Inc. owned about 6.23% of Martin Marietta Materials worth $810,635,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of MLM. Montag A & Associates Inc. raised its holdings in Martin Marietta Materials by 100.2% in the fourth quarter. Montag A & Associates Inc. now owns 10,588 shares of the construction company’s stock valued at $2,340,000 after acquiring an additional 5,299 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its holdings in Martin Marietta Materials by 177.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,668 shares of the construction company’s stock valued at $1,917,000 after acquiring an additional 5,548 shares in the last quarter. Capital Analysts LLC increased its stake in Martin Marietta Materials by 215,137.9% in the fourth quarter. Capital Analysts LLC now owns 62,419 shares of the construction company’s stock valued at $1,152,000 after purchasing an additional 62,390 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Martin Marietta Materials by 4.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 22,445 shares of the construction company’s stock valued at $4,962,000 after purchasing an additional 893 shares during the last quarter. Finally, Global X Management Co. LLC increased its stake in Martin Marietta Materials by 17.4% in the fourth quarter. Global X Management Co. LLC now owns 5,580 shares of the construction company’s stock valued at $1,233,000 after purchasing an additional 827 shares during the last quarter. 99.98% of the stock is currently owned by institutional investors.
Several equities analysts have commented on MLM shares. SunTrust Banks dropped their price target on shares of Martin Marietta Materials to $226.00 and set a “buy” rating on the stock in a research note on Thursday, May 3rd. They noted that the move was a valuation call. Citigroup set a $262.00 target price on shares of Martin Marietta Materials and gave the stock a “buy” rating in a research report on Tuesday, May 15th. Bank of America upgraded shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $229.00 target price on the stock in a research report on Wednesday, May 2nd. Alembic Global Advisors reaffirmed a “buy” rating on shares of Martin Marietta Materials in a research note on Wednesday, February 14th. Finally, Zacks Investment Research raised Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $258.00 price target for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $238.13.
Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Tuesday, May 8th. The construction company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.09). Martin Marietta Materials had a return on equity of 9.47% and a net margin of 17.36%. The company had revenue of $802.00 million for the quarter, compared to analyst estimates of $822.23 million. During the same period last year, the firm posted $0.67 earnings per share. The business’s revenue was down 5.0% on a year-over-year basis. analysts forecast that Martin Marietta Materials, Inc. will post 9.07 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 1st will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Thursday, May 31st. Martin Marietta Materials’s payout ratio is 24.51%.
In related news, EVP Roselyn R. Bar sold 5,998 shares of the company’s stock in a transaction that occurred on Friday, May 11th. The stock was sold at an average price of $213.67, for a total transaction of $1,281,592.66. Following the sale, the executive vice president now directly owns 53,854 shares of the company’s stock, valued at approximately $11,506,984.18. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael J. Quillen sold 3,000 shares of the company’s stock in a transaction on Wednesday, May 9th. The stock was sold at an average price of $212.50, for a total value of $637,500.00. Following the transaction, the director now owns 20,283 shares of the company’s stock, valued at $4,310,137.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,633 shares of company stock worth $4,682,373. 0.75% of the stock is currently owned by corporate insiders.
Martin Marietta Materials Profile
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 provides crushed stone, sand, and gravel products; ready mixed concrete, and asphalt and paving products; 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.
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