5,708 Shares in Martin Marietta Materials, Inc. (MLM) Acquired by Penn Capital Management Co. Inc.

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Penn Capital Management Co. Inc. acquired a new position in Martin Marietta Materials, Inc. (NYSE:MLM) during the 1st quarter, Holdings Channel reports. The fund acquired 5,708 shares of the construction company’s stock, valued at approximately $3,414,000.

Other hedge funds have also bought and sold shares of the company. Man Group plc acquired a new position in shares of Martin Marietta Materials in the third quarter worth about $255,000. Nordea Investment Management AB boosted its holdings in shares of Martin Marietta Materials by 1,994.5% in the third quarter. Nordea Investment Management AB now owns 60,698 shares of the construction company’s stock worth $11,045,000 after buying an additional 57,800 shares during the period. Legal & General Group Plc boosted its holdings in shares of Martin Marietta Materials by 2.3% in the third quarter. Legal & General Group Plc now owns 271,065 shares of the construction company’s stock worth $49,320,000 after buying an additional 6,100 shares during the period. Vanguard Group Inc boosted its holdings in shares of Martin Marietta Materials by 0.4% in the third quarter. Vanguard Group Inc now owns 6,653,036 shares of the construction company’s stock worth $1,210,520,000 after buying an additional 28,832 shares during the period. Finally, Federated Investors Inc. PA boosted its holdings in shares of Martin Marietta Materials by 77,513.2% in the third quarter. Federated Investors Inc. PA now owns 135,047 shares of the construction company’s stock worth $24,572,000 after buying an additional 134,873 shares during the period.

MLM stock opened at $215.68 on Thursday. The company has a quick ratio of 0.96, a current ratio of 1.81 and a debt-to-equity ratio of 0.65. The company has a market cap of $13.30 billion, a P/E ratio of 26.66, a P/E/G ratio of 2.09 and a beta of 1.15. Martin Marietta Materials, Inc. has a 52 week low of $150.75 and a 52 week high of $232.88.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Tuesday, April 30th. The construction company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.29 by $0.39. The business had revenue of $938.96 million during the quarter, compared to analysts’ expectations of $881.82 million. Martin Marietta Materials had a net margin of 11.48% and a return on equity of 10.82%. The firm’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period last year, the company posted $0.16 earnings per share. As a group, analysts anticipate that Martin Marietta Materials, Inc. will post 9.21 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Friday, May 31st. Martin Marietta Materials’s dividend payout ratio is currently 23.73%.

MLM has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $250.00 target price for the company in a report on Monday, May 6th. Citigroup raised their target price on shares of Martin Marietta Materials from $239.00 to $255.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Goldman Sachs Group upgraded shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and raised their target price for the stock from $207.00 to $232.00 in a report on Thursday, April 11th. Deutsche Bank raised their target price on shares of Martin Marietta Materials from $198.00 to $207.00 and gave the stock a “buy” rating in a report on Wednesday, February 13th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $232.00 target price on shares of Martin Marietta Materials in a report on Tuesday, January 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. Martin Marietta Materials presently has a consensus rating of “Buy” and a consensus price target of $219.93.

In related news, SVP Donald A. Mccunniff sold 660 shares of the firm’s stock in a transaction that occurred 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 accessible through the SEC website. Also, Director Sue W. Cole sold 1,500 shares of the firm’s stock in a transaction that occurred 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. Over the last 90 days, insiders have sold 20,011 shares of company stock valued at $4,353,464. 0.73% of the stock is currently owned by corporate insiders.

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Martin Marietta Materials Company 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 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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