Strs Ohio decreased its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 16.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,589 shares of the construction company’s stock after selling 6,191 shares during the period. Strs Ohio owned 0.05% of Martin Marietta Materials worth $7,278,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MLM. Synovus Financial Corp acquired a new stake in Martin Marietta Materials during the first quarter valued at $102,000. Lee Financial Co acquired a new stake in Martin Marietta Materials during the first quarter valued at $109,000. Motco acquired a new stake in Martin Marietta Materials during the first quarter valued at $135,000. Piedmont Investment Advisors LLC acquired a new stake in Martin Marietta Materials during the second quarter valued at $160,000. Finally, IFP Advisors Inc boosted its position in Martin Marietta Materials by 70.6% during the first quarter. IFP Advisors Inc now owns 829 shares of the construction company’s stock valued at $172,000 after purchasing an additional 343 shares during the last quarter.
In other Martin Marietta Materials news, Director John J. Koraleski acquired 2,400 shares of the business’s stock in a transaction that occurred on Friday, July 27th. The stock was acquired at an average price of $208.06 per share, with a total value of $499,344.00. Following the transaction, the director now owns 4,750 shares of the company’s stock, valued at $988,285. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Donald A. Mccunniff sold 4,226 shares of the business’s stock in a transaction dated Wednesday, June 13th. The stock was sold at an average price of $230.72, for a total value of $975,022.72. Following the transaction, the senior vice president now directly owns 14,899 shares of the company’s stock, valued at approximately $3,437,497.28. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by insiders.
Shares of NYSE:MLM opened at $204.00 on Tuesday. Martin Marietta Materials, Inc. has a fifty-two week low of $189.26 and a fifty-two week high of $241.33. The stock has a market capitalization of $12.79 billion, a price-to-earnings ratio of 28.41, a P/E/G ratio of 1.52 and a beta of 1.08. The company has a quick ratio of 1.14, a current ratio of 2.05 and a debt-to-equity ratio of 0.60.
Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Thursday, July 26th. The construction company reported $3.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.45. Martin Marietta Materials had a return on equity of 10.52% and a net margin of 17.82%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the previous year, the firm earned $2.27 earnings per share. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. analysts predict that Martin Marietta Materials, Inc. will post 9.37 EPS for the current fiscal year.
A number of analysts have weighed in on the company. Citigroup reduced their price target on Martin Marietta Materials from $262.00 to $250.00 and set a “buy” rating for the company in a research report on Monday, July 30th. ValuEngine raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Tuesday, May 8th. Stephens reaffirmed a “hold” rating and issued a $233.00 price target on shares of Martin Marietta Materials in a research report on Wednesday, August 1st. Stifel Nicolaus boosted their price target on Martin Marietta Materials from $256.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, July 27th. Finally, SunTrust Banks reduced their price target on Martin Marietta Materials to $226.00 and set a “buy” rating for the company in a research report on Thursday, May 3rd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. Martin Marietta Materials has a consensus rating of “Buy” and an average price target of $241.22.
About Martin Marietta Materials
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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