Martin Marietta Materials, Inc. (NYSE:MLM) Shares Bought by BlackRock Inc.

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BlackRock Inc. lifted its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 1.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,910,444 shares of the construction company’s stock after buying an additional 48,775 shares during the period. BlackRock Inc. owned approximately 6.23% of Martin Marietta Materials worth $810,635,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Iridian Asset Management LLC CT boosted its position in Martin Marietta Materials by 22.0% during the fourth quarter. Iridian Asset Management LLC CT now owns 2,177,847 shares of the construction company’s stock worth $481,391,000 after acquiring an additional 392,445 shares during the last quarter. Aristotle Capital Management LLC boosted its position in Martin Marietta Materials by 4.2% during the fourth quarter. Aristotle Capital Management LLC now owns 1,688,885 shares of the construction company’s stock worth $373,312,000 after acquiring an additional 68,461 shares during the last quarter. Caledonia Private Investments Pty Ltd boosted its holdings in Martin Marietta Materials by 6.0% in the 4th quarter. Caledonia Private Investments Pty Ltd now owns 845,628 shares of the construction company’s stock valued at $186,918,000 after purchasing an additional 47,539 shares during the last quarter. William Blair Investment Management LLC boosted its holdings in Martin Marietta Materials by 26.4% in the 4th quarter. William Blair Investment Management LLC now owns 753,144 shares of the construction company’s stock valued at $166,475,000 after purchasing an additional 157,388 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Martin Marietta Materials by 0.4% in the 4th quarter. Bank of New York Mellon Corp now owns 749,210 shares of the construction company’s stock valued at $165,605,000 after purchasing an additional 3,346 shares during the last quarter. Institutional investors own 99.82% of the company’s stock.

In other news, SVP Donald A. Mccunniff sold 4,226 shares of Martin Marietta Materials stock in a transaction dated Wednesday, June 13th. The shares were sold at an average price of $230.72, for a total transaction of $975,022.72. Following the completion of the sale, the senior vice president now directly owns 14,899 shares in the company, valued at $3,437,497.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman C Howard Nye sold 8,409 shares of the firm’s stock in a transaction that occurred on Wednesday, May 9th. The stock was sold at an average price of $212.66, for a total transaction of $1,788,257.94. Following the completion of the sale, the chairman now directly owns 146,977 shares in the company, valued at $31,256,128.82. The disclosure for this sale can be found here. Insiders have sold a total of 21,633 shares of company stock valued at $4,682,373 over the last 90 days. 0.75% of the stock is currently owned by insiders.

NYSE:MLM traded up $2.76 during trading hours on Friday, reaching $227.40. 20,845 shares of the company’s stock were exchanged, compared to its average volume of 545,187. Martin Marietta Materials, Inc. has a 1-year low of $189.26 and a 1-year high of $241.33. The stock has a market cap of $14.39 billion, a P/E ratio of 31.48, a P/E/G ratio of 1.72 and a beta of 1.17. The company has a debt-to-equity ratio of 0.58, a current ratio of 4.00 and a quick ratio of 3.06.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Tuesday, May 8th. The construction company reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.09). The firm had revenue of $802.00 million during the quarter, compared to analyst estimates of $822.23 million. Martin Marietta Materials had a return on equity of 9.47% and a net margin of 17.36%. The firm’s revenue was down 5.0% on a year-over-year basis. During the same quarter last year, the business posted $0.67 EPS. sell-side analysts expect that Martin Marietta Materials, Inc. will post 9.22 EPS 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 issued a dividend of $0.44 per share. The ex-dividend date is Thursday, May 31st. This represents a $1.76 annualized dividend and a yield of 0.77%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 24.51%.

Several brokerages have recently commented on MLM. Citigroup set a $262.00 price objective on shares of Martin Marietta Materials and gave the stock a “buy” rating in a report on Tuesday, May 15th. ValuEngine upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Tuesday, May 8th. Stephens restated a “hold” rating and issued a $233.00 price objective on shares of Martin Marietta Materials in a report on Friday, April 13th. SunTrust Banks cut their target price 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. Finally, Bank of America raised 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 note on Wednesday, May 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $238.13.

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.

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

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