Andra AP fonden Reduces Stake in Martin Marietta Materials, Inc. (MLM)

Andra AP fonden lowered its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 72.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,300 shares of the construction company’s stock after selling 3,500 shares during the quarter. Andra AP fonden’s holdings in Martin Marietta Materials were worth $289,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. raised its stake in shares of Martin Marietta Materials by 130.9% during the second quarter. Robeco Institutional Asset Management B.V. now owns 538 shares of the construction company’s stock worth $120,000 after purchasing an additional 305 shares during the last quarter. Sfmg LLC raised its stake in shares of Martin Marietta Materials by 84.7% during the second quarter. Sfmg LLC now owns 2,419 shares of the construction company’s stock worth $538,000 after purchasing an additional 1,109 shares during the last quarter. Iridian Asset Management LLC CT raised its stake in shares of Martin Marietta Materials by 9.0% during the second quarter. Iridian Asset Management LLC CT now owns 1,155,045 shares of the construction company’s stock worth $257,090,000 after purchasing an additional 94,930 shares during the last quarter. Sitrin Capital Management LLC raised its stake in shares of Martin Marietta Materials by 1.5% during the second quarter. Sitrin Capital Management LLC now owns 18,951 shares of the construction company’s stock worth $4,218,000 after purchasing an additional 288 shares during the last quarter. Finally, Aviva PLC raised its stake in shares of Martin Marietta Materials by 0.9% during the second quarter. Aviva PLC now owns 39,667 shares of the construction company’s stock worth $8,830,000 after purchasing an additional 360 shares during the last quarter. Institutional investors own 95.78% of the company’s stock.

MLM has been the subject of several analyst reports. Zacks Investment Research upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Monday, September 4th. BidaskClub upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Finally, Jefferies Group LLC set a $166.00 price target on Martin Marietta Materials and gave the stock a “hold” rating in a research note on Monday, August 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. Martin Marietta Materials currently has a consensus rating of “Hold” and an average price target of $220.57.

In other Martin Marietta Materials news, Director John J. Koraleski bought 500 shares of the business’s stock in a transaction on Friday, August 18th. The shares were purchased at an average price of $198.37 per share, with a total value of $99,185.00. Following the purchase, the director now directly owns 1,439 shares of the company’s stock, valued at $285,454.43. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 8.45% of the stock is owned by insiders.

Martin Marietta Materials, Inc. (NYSE MLM) opened at 198.69 on Friday. The firm has a market cap of $12.49 billion, a price-to-earnings ratio of 28.59 and a beta of 1.15. The company’s 50-day moving average price is $205.93 and its 200-day moving average price is $218.82. Martin Marietta Materials, Inc. has a one year low of $167.06 and a one year high of $244.32.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Tuesday, August 1st. The construction company reported $2.25 earnings per share for the quarter, missing the consensus estimate of $2.38 by ($0.13). The business had revenue of $996.30 million for the quarter, compared to the consensus estimate of $1.01 billion. Martin Marietta Materials had a net margin of 11.19% and a return on equity of 10.69%. The firm’s revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.90 EPS. On average, analysts anticipate that Martin Marietta Materials, Inc. will post $7.14 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Tuesday, September 5th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $1.76 annualized dividend and a yield of 0.89%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.42. Martin Marietta Materials’s payout ratio is presently 25.29%.

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Martin Marietta Materials Profile

Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.

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

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