First Trust Advisors LP reduced its stake in Martin Marietta Materials (NYSE:MLM) by 26.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,811 shares of the construction company’s stock after selling 3,202 shares during the period. First Trust Advisors LP’s holdings in Martin Marietta Materials were worth $1,948,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of MLM. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Martin Marietta Materials by 66.4% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,120 shares of the construction company’s stock valued at $644,000 after purchasing an additional 1,245 shares in the last quarter. Renaissance Investment Group LLC boosted its stake in shares of Martin Marietta Materials by 3.9% during the fourth quarter. Renaissance Investment Group LLC now owns 13,332 shares of the construction company’s stock valued at $2,947,000 after purchasing an additional 499 shares in the last quarter. Tahithromos L.L.C. bought a new position in shares of Martin Marietta Materials during the third quarter valued at approximately $825,000. Davidson Investment Advisors boosted its stake in shares of Martin Marietta Materials by 18.7% during the third quarter. Davidson Investment Advisors now owns 23,789 shares of the construction company’s stock valued at $4,906,000 after purchasing an additional 3,745 shares in the last quarter. Finally, Caledonia Private Investments Pty Ltd boosted its stake in shares of Martin Marietta Materials by 5.3% during the third quarter. Caledonia Private Investments Pty Ltd now owns 798,089 shares of the construction company’s stock valued at $164,590,000 after purchasing an additional 39,989 shares in the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.
MLM has been the topic of a number of recent research reports. Stephens reiterated a “hold” rating and set a $250.00 price objective on shares of Martin Marietta Materials in a research note on Wednesday, January 3rd. Zacks Investment Research raised shares of Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research report on Friday, January 19th. Citigroup increased their target price on shares of Martin Marietta Materials from $245.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. SunTrust Banks reissued a “buy” rating and set a $245.00 target price on shares of Martin Marietta Materials in a research report on Tuesday, February 13th. Finally, Alembic Global Advisors reissued a “buy” rating on shares of Martin Marietta Materials in a research report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $243.25.
In other Martin Marietta Materials news, Director Sue W. Cole sold 3,000 shares of the firm’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $210.06, for a total value of $630,180.00. Following the completion of the transaction, the director now owns 24,145 shares of the company’s stock, valued at $5,071,898.70. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 8.45% of the company’s stock.
NYSE:MLM traded down $0.40 during midday trading on Thursday, reaching $202.42. 353,490 shares of the stock traded hands, compared to its average volume of 684,182. The stock has a market capitalization of $12,887.18, a price-to-earnings ratio of 28.19, a PEG ratio of 2.97 and a beta of 1.13. Martin Marietta Materials has a 12-month low of $191.09 and a 12-month high of $244.32. The company has a quick ratio of 2.93, a current ratio of 3.79 and a debt-to-equity ratio of 0.58.
Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Tuesday, February 13th. The construction company reported $1.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.42 by $0.46. The business had revenue of $911.30 million during the quarter, compared to analysts’ expectations of $924.30 million. Martin Marietta Materials had a net margin of 17.99% and a return on equity of 10.55%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the company posted $1.55 earnings per share. analysts expect that Martin Marietta Materials will post 8.57 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Monday, March 5th were issued a $0.44 dividend. The ex-dividend date was Friday, March 2nd. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.87%. Martin Marietta Materials’s dividend payout ratio is currently 24.51%.
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About Martin Marietta Materials
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.
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