Candriam Luxembourg S.C.A. bought a new stake in shares of Martin Marietta Materials Inc. (NYSE:MLM) during the second quarter, Holdings Channel reports. The fund bought 2,386 shares of the company’s stock, valued at approximately $458,000.
Several other hedge funds have also made changes to their positions in the stock. Capital Growth Management LP acquired a new stake in shares of Martin Marietta Materials during the first quarter valued at about $53,436,000. Bank of Montreal Can acquired a new stake in shares of Martin Marietta Materials during the second quarter valued at about $18,060,000. Caledonia Private Investments Pty Ltd boosted its stake in shares of Martin Marietta Materials by 20.0% in the first quarter. Caledonia Private Investments Pty Ltd now owns 519,453 shares of the company’s stock valued at $82,858,000 after buying an additional 86,658 shares in the last quarter. Loomis Sayles & Co. L P acquired a new stake in shares of Martin Marietta Materials during the first quarter valued at about $10,640,000. Finally, AMP Capital Investors Ltd boosted its stake in shares of Martin Marietta Materials by 86.6% in the first quarter. AMP Capital Investors Ltd now owns 84,093 shares of the company’s stock valued at $13,020,000 after buying an additional 39,036 shares in the last quarter. Hedge funds and other institutional investors own 97.18% of the company’s stock.
Shares of Martin Marietta Materials Inc. (NYSE:MLM) traded down 1.20% during trading on Tuesday, reaching $169.19. 1,033,205 shares of the company’s stock were exchanged. The stock has a market cap of $10.73 billion, a P/E ratio of 30.14 and a beta of 1.36. Martin Marietta Materials Inc. has a 12-month low of $108.31 and a 12-month high of $206.36. The company has a 50 day moving average of $181.51 and a 200 day moving average of $183.60.
Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $1.90 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.02 by $0.12. The business earned $915.40 million during the quarter, compared to analysts’ expectations of $953.30 million. Martin Marietta Materials had a return on equity of 9.36% and a net margin of 9.96%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.22 earnings per share. Equities research analysts anticipate that Martin Marietta Materials Inc. will post $7.14 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 1st were paid a $0.42 dividend. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend was Tuesday, August 30th. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 30.05%.
Several analysts have recently issued reports on MLM shares. Zacks Investment Research cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Tuesday, October 4th. Jefferies Group reiterated a “hold” rating on shares of Martin Marietta Materials in a report on Monday, August 1st. DA Davidson upped their price target on shares of Martin Marietta Materials from $190.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, August 3rd. Bank of America Corp. reiterated a “buy” rating on shares of Martin Marietta Materials in a report on Friday, June 17th. Finally, Goldman Sachs Group Inc. downgraded shares of Martin Marietta Materials from a “buy” rating to a “neutral” rating and cut their price target for the company from $210.00 to $202.00 in a report on Tuesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. Martin Marietta Materials currently has a consensus rating of “Hold” and an average target price of $203.00.
In other news, EVP Roselyn R. Bar sold 5,830 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $199.98, for a total value of $1,165,883.40. Following the transaction, the executive vice president now directly owns 42,588 shares of the company’s stock, valued at $8,516,748.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David G. Maffucci sold 6,779 shares of the firm’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $199.90, for a total transaction of $1,355,122.10. Following the completion of the transaction, the director now directly owns 20,326 shares in the company, valued at $4,063,167.40. The disclosure for this sale can be found here. 1.06% of the stock is currently owned by insiders.
Martin Marietta Materials Company Profile
Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand and gravel) for the construction industry, used for the construction of infrastructure, non-residential, and residential projects. The Company operates through three businesses: Aggregates Business, Cement Business and Magnesia Specialties Business.
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