BerganKDV Wealth Management LLC Sells 439 Shares of Martin Marietta Materials, Inc. (MLM)

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BerganKDV Wealth Management LLC cut its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 7.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 5,163 shares of the construction company’s stock after selling 439 shares during the quarter. BerganKDV Wealth Management LLC’s holdings in Martin Marietta Materials were worth $939,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Global X Management Co LLC grew its position in shares of Martin Marietta Materials by 4.8% in the second quarter. Global X Management Co LLC now owns 15,519 shares of the construction company’s stock valued at $3,466,000 after purchasing an additional 707 shares in the last quarter. Select Equity Group L.P. grew its position in shares of Martin Marietta Materials by 6.6% in the second quarter. Select Equity Group L.P. now owns 1,937,854 shares of the construction company’s stock valued at $432,781,000 after purchasing an additional 119,936 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of Martin Marietta Materials by 14.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 6,590 shares of the construction company’s stock valued at $1,473,000 after purchasing an additional 839 shares in the last quarter. Confluence Investment Management LLC grew its position in shares of Martin Marietta Materials by 0.7% in the third quarter. Confluence Investment Management LLC now owns 447,331 shares of the construction company’s stock valued at $81,392,000 after purchasing an additional 3,238 shares in the last quarter. Finally, Reliance Trust Co. of Delaware grew its position in shares of Martin Marietta Materials by 19.8% in the third quarter. Reliance Trust Co. of Delaware now owns 4,258 shares of the construction company’s stock valued at $775,000 after purchasing an additional 705 shares in the last quarter.

NYSE:MLM opened at $188.97 on Monday. The firm has a market cap of $11.85 billion, a P/E ratio of 26.32, a price-to-earnings-growth ratio of 1.89 and a beta of 1.09. Martin Marietta Materials, Inc. has a 52-week low of $150.75 and a 52-week high of $241.33. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.88 and a quick ratio of 1.04.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Tuesday, November 6th. The construction company reported $2.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.64 by $0.21. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.20 billion. Martin Marietta Materials had a return on equity of 10.78% and a net margin of 17.95%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the company earned $2.39 earnings per share. Equities research analysts anticipate that Martin Marietta Materials, Inc. will post 8.15 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Monday, December 3rd will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Friday, November 30th. Martin Marietta Materials’s dividend payout ratio is 26.74%.

In related news, SVP Donald A. Mccunniff sold 1,476 shares of Martin Marietta Materials stock in a transaction on Friday, November 9th. The stock was sold at an average price of $185.50, for a total transaction of $273,798.00. Following the completion of the sale, the senior vice president now owns 14,467 shares of the company’s stock, valued at $2,683,628.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Donald A. Mccunniff sold 2,250 shares of Martin Marietta Materials stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $204.33, for a total value of $459,742.50. Following the sale, the senior vice president now directly owns 12,649 shares of the company’s stock, valued at approximately $2,584,570.17. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by company insiders.

Several brokerages have recently weighed in on MLM. 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. Stephens set a $187.00 price target on Martin Marietta Materials and gave the company a “hold” rating in a research report on Wednesday, October 17th. ValuEngine cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Saturday, July 28th. Stifel Nicolaus lifted their price objective on Martin Marietta Materials from $256.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, July 27th. Finally, Bank of America lowered Martin Marietta Materials from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $225.00 to $179.00 in a research note on Wednesday, October 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Martin Marietta Materials presently has an average rating of “Hold” and an average price target of $219.11.

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

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