Hsbc Holdings PLC lifted its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,406 shares of the construction company’s stock after purchasing an additional 291 shares during the period. Hsbc Holdings PLC owned 0.05% of Martin Marietta Materials worth $5,398,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Iridian Asset Management LLC CT increased its stake in shares of Martin Marietta Materials by 5.3% during the 3rd quarter. Iridian Asset Management LLC CT now owns 1,901,719 shares of the construction company’s stock worth $346,018,000 after purchasing an additional 94,983 shares during the last quarter. Eagle Asset Management Inc. lifted its holdings in shares of Martin Marietta Materials by 10.5% during the 3rd quarter. Eagle Asset Management Inc. now owns 451,492 shares of the construction company’s stock worth $82,148,000 after acquiring an additional 42,919 shares during the period. Quantamental Technologies LLC bought a new position in Martin Marietta Materials in the 4th quarter valued at approximately $481,000. FDx Advisors Inc. lifted its stake in Martin Marietta Materials by 18.4% in the 3rd quarter. FDx Advisors Inc. now owns 7,801 shares of the construction company’s stock valued at $1,419,000 after purchasing an additional 1,212 shares during the last quarter. Finally, Ironsides Asset Advisors LLC bought a new position in Martin Marietta Materials in the 3rd quarter valued at approximately $457,000.
In other news, SVP Donald A. Mccunniff sold 660 shares of the stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $190.90, for a total transaction of $125,994.00. Following the completion of the sale, the senior vice president now directly owns 15,349 shares in the company, valued at $2,930,124.10. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Sue W. Cole sold 1,500 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $195.07, for a total transaction of $292,605.00. Following the sale, the director now owns 20,933 shares of the company’s stock, valued at $4,083,400.31. The disclosure for this sale can be found here. Corporate insiders own 0.75% of the company’s stock.
Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Tuesday, February 12th. The construction company reported $1.50 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.71 by ($0.21). Martin Marietta Materials had a net margin of 11.07% and a return on equity of 10.31%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter last year, the company posted $1.88 earnings per share. The company’s revenue was up 5.1% compared to the same quarter last year. As a group, research analysts expect that Martin Marietta Materials, Inc. will post 8.98 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Monday, March 4th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.00%. The ex-dividend date is Friday, March 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 23.73%.
Several equities analysts recently commented on the stock. Zacks Investment Research downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Friday, February 15th. Citigroup set a $211.00 price objective on shares of Martin Marietta Materials and gave the company a “buy” rating in a research note on Thursday, February 14th. Stifel Nicolaus reissued a “buy” rating on shares of Martin Marietta Materials in a research note on Wednesday, December 19th. ValuEngine raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Thursday, November 15th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $232.00 price objective on shares of Martin Marietta Materials in a research note on Tuesday, January 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $217.45.
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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