Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lessened its holdings in Martin Marietta Materials, Inc. (NYSE:MLMGet Rating) by 0.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 355,755 shares of the construction company’s stock after selling 2,434 shares during the quarter. Franklin Resources Inc. owned about 0.57% of Martin Marietta Materials worth $106,456,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Charter Oak Capital Management LLC acquired a new position in Martin Marietta Materials in the 2nd quarter worth approximately $29,000. CX Institutional acquired a new position in Martin Marietta Materials in the 2nd quarter worth approximately $31,000. Tcwp LLC acquired a new position in Martin Marietta Materials in the 1st quarter worth approximately $41,000. Fairfield Bush & CO. acquired a new position in Martin Marietta Materials in the 1st quarter worth approximately $46,000. Finally, Clear Street Markets LLC increased its holdings in Martin Marietta Materials by 407.7% in the 2nd quarter. Clear Street Markets LLC now owns 132 shares of the construction company’s stock worth $39,000 after buying an additional 106 shares during the period. Institutional investors and hedge funds own 93.51% of the company’s stock.

Martin Marietta Materials Stock Up 0.2 %

Shares of NYSE:MLM opened at $365.32 on Thursday. The business has a 50-day moving average price of $331.92 and a 200 day moving average price of $333.11. The company has a current ratio of 2.01, a quick ratio of 1.43 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $22.68 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 1.99 and a beta of 0.85. Martin Marietta Materials, Inc. has a 12-month low of $284.99 and a 12-month high of $446.46.

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 1st will be given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Wednesday, November 30th. Martin Marietta Materials’s payout ratio is 19.66%.

Analysts Set New Price Targets

A number of brokerages have recently commented on MLM. StockNews.com began coverage on shares of Martin Marietta Materials in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. JPMorgan Chase & Co. raised their price objective on shares of Martin Marietta Materials from $370.00 to $410.00 and gave the stock an “overweight” rating in a research note on Thursday, September 22nd. DA Davidson dropped their price objective on shares of Martin Marietta Materials from $395.00 to $385.00 in a research note on Wednesday, October 12th. Raymond James dropped their price objective on shares of Martin Marietta Materials from $410.00 to $380.00 in a research note on Sunday, November 6th. Finally, BNP Paribas raised shares of Martin Marietta Materials from a “neutral” rating to an “outperform” rating and set a $407.00 price objective on the stock in a research note on Tuesday, September 20th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $400.33.

Martin Marietta Materials Company Profile

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Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; 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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