Raymond James Financial Services Advisors Inc. Has $591,000 Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

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Raymond James Financial Services Advisors Inc. decreased its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 16.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 2,936 shares of the construction company’s stock after selling 589 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Martin Marietta Materials were worth $591,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Shine Investment Advisory Services Inc. boosted its holdings in shares of Martin Marietta Materials by 191.8% in the 1st quarter. Shine Investment Advisory Services Inc. now owns 143 shares of the construction company’s stock valued at $29,000 after buying an additional 94 shares in the last quarter. JOYN Advisors Inc. boosted its holdings in shares of Martin Marietta Materials by 472.7% in the 4th quarter. JOYN Advisors Inc. now owns 189 shares of the construction company’s stock valued at $32,000 after buying an additional 156 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its holdings in shares of Martin Marietta Materials by 397.4% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 189 shares of the construction company’s stock valued at $32,000 after buying an additional 151 shares in the last quarter. Enlightenment Research LLC acquired a new position in shares of Martin Marietta Materials in the 4th quarter valued at $34,000. Finally, Gemmer Asset Management LLC boosted its holdings in shares of Martin Marietta Materials by 69.0% in the 1st quarter. Gemmer Asset Management LLC now owns 245 shares of the construction company’s stock valued at $49,000 after buying an additional 100 shares in the last quarter.

Several research analysts have recently issued reports on the stock. Goldman Sachs Group upgraded shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and upped their target price for the company from $207.00 to $232.00 in a report on Thursday, April 11th. JPMorgan Chase & Co. initiated coverage on shares of Martin Marietta Materials in a research report on Thursday, March 21st. They issued an “overweight” rating and a $225.00 price target for the company. Berenberg Bank initiated coverage on shares of Martin Marietta Materials in a research report on Wednesday, April 3rd. They issued a “hold” rating and a $194.00 price target for the company. Stephens upgraded shares of Martin Marietta Materials from an “equal” rating to an “overweight” rating in a research report on Friday, February 15th. Finally, Zacks Investment Research downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Friday, February 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company’s stock. Martin Marietta Materials currently has a consensus rating of “Buy” and a consensus target price of $221.87.

MLM stock opened at $222.57 on Friday. Martin Marietta Materials, Inc. has a 12 month low of $150.75 and a 12 month high of $232.44. The firm has a market capitalization of $13.74 billion, a P/E ratio of 27.51, a price-to-earnings-growth ratio of 2.15 and a beta of 1.14. The company has a quick ratio of 0.96, a current ratio of 1.81 and a debt-to-equity ratio of 0.65.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Tuesday, April 30th. The construction company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.29 by $0.39. Martin Marietta Materials had a net margin of 11.48% and a return on equity of 10.82%. The firm had revenue of $938.96 million during the quarter, compared to the consensus estimate of $881.82 million. During the same quarter in the prior year, the firm earned $0.16 EPS. Martin Marietta Materials’s revenue for the quarter was up 17.1% on a year-over-year basis. On average, equities research analysts forecast that Martin Marietta Materials, Inc. will post 9.26 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be given a $0.48 dividend. The ex-dividend date is Friday, May 31st. This represents a $1.92 annualized dividend and a yield of 0.86%. Martin Marietta Materials’s dividend payout ratio (DPR) is 23.73%.

In other Martin Marietta Materials news, Director Laree E. Perez sold 824 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $231.80, for a total transaction of $191,003.20. Following the completion of the transaction, the director now owns 14,136 shares in the company, valued at approximately $3,276,724.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Donald A. Mccunniff sold 3,183 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $220.19, for a total transaction of $700,864.77. Following the transaction, the senior vice president now owns 16,724 shares of the company’s stock, valued at approximately $3,682,457.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,675 shares of company stock valued at $4,125,869. 0.73% of the stock is owned by insiders.

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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 offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; 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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