Cubist Systematic Strategies LLC Boosts Position in Martin Marietta Materials, Inc. (MLM)

Cubist Systematic Strategies LLC boosted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 523.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,336 shares of the construction company’s stock after purchasing an additional 2,801 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Martin Marietta Materials were worth $743,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Profund Advisors LLC lifted its holdings in shares of Martin Marietta Materials by 0.3% during the 2nd quarter. Profund Advisors LLC now owns 1,600 shares of the construction company’s stock worth $356,000 after acquiring an additional 5 shares during the period. First National Bank of Hutchinson raised its holdings in Martin Marietta Materials by 0.3% in the second quarter. First National Bank of Hutchinson now owns 2,214 shares of the construction company’s stock valued at $505,000 after buying an additional 6 shares during the period. L & S Advisors Inc raised its holdings in Martin Marietta Materials by 0.8% in the second quarter. L & S Advisors Inc now owns 3,091 shares of the construction company’s stock valued at $688,000 after buying an additional 26 shares during the period. CIBC Asset Management Inc raised its holdings in Martin Marietta Materials by 0.3% in the second quarter. CIBC Asset Management Inc now owns 9,431 shares of the construction company’s stock valued at $2,099,000 after buying an additional 27 shares during the period. Finally, Candriam Luxembourg S.C.A. raised its holdings in Martin Marietta Materials by 0.7% in the second quarter. Candriam Luxembourg S.C.A. now owns 4,438 shares of the construction company’s stock valued at $988,000 after buying an additional 30 shares during the period. Hedge funds and other institutional investors own 96.23% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Cubist Systematic Strategies LLC Boosts Position in Martin Marietta Materials, Inc. (MLM)” was published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this report on another site, it was illegally copied and republished in violation of US and international trademark and copyright laws. The original version of this report can be accessed at https://www.dispatchtribunal.com/2017/10/27/cubist-systematic-strategies-llc-acquires-2801-shares-of-martin-marietta-materials-inc-mlm.html.

Several analysts have issued reports on MLM shares. Zacks Investment Research downgraded shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a research report on Friday, July 14th. BidaskClub downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Jefferies Group LLC set a $166.00 price target on shares of Martin Marietta Materials and gave the stock a “hold” rating in a research report on Monday, August 21st. Citigroup Inc. reaffirmed a “buy” rating and issued a $260.00 price objective (down previously from $270.00) on shares of Martin Marietta Materials in a report on Monday, October 9th. Finally, Bank of America Corporation decreased their price objective on shares of Martin Marietta Materials from $233.00 to $229.00 and set a “neutral” rating for the company in a report on Thursday, October 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. Martin Marietta Materials has a consensus rating of “Hold” and a consensus price target of $248.80.

Martin Marietta Materials, Inc. (NYSE:MLM) traded down 1.49% during midday trading on Friday, reaching $213.69. The company’s stock had a trading volume of 77,354 shares. The firm has a 50 day moving average price of $205.24 and a 200 day moving average price of $217.43. The firm has a market capitalization of $13.43 billion, a PE ratio of 30.75 and a beta of 1.13. Martin Marietta Materials, Inc. has a 1-year low of $175.16 and a 1-year high of $244.32.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Tuesday, August 1st. The construction company reported $2.25 earnings per share for the quarter, missing analysts’ consensus estimates of $2.38 by ($0.13). The firm had revenue of $996.30 million for the quarter, compared to the consensus estimate of $1.01 billion. Martin Marietta Materials had a return on equity of 10.69% and a net margin of 11.19%. The company’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.90 EPS. On average, analysts predict that Martin Marietta Materials, Inc. will post $7.14 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Tuesday, September 5th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $1.76 dividend on an annualized basis and a yield of 0.81%. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.42. Martin Marietta Materials’s payout ratio is currently 25.29%.

In other news, Director John J. Koraleski acquired 500 shares of Martin Marietta Materials stock in a transaction that occurred on Friday, August 18th. The shares were acquired at an average price of $198.37 per share, for a total transaction of $99,185.00. Following the transaction, the director now directly owns 1,439 shares of the company’s stock, valued at approximately $285,454.43. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 8.45% of the company’s stock.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.

Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

Receive News & Ratings for Martin Marietta Materials Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Martin Marietta Materials Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply