MetLife Investment Advisors LLC trimmed its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 2.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,900 shares of the construction company’s stock after selling 550 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Martin Marietta Materials were worth $3,918,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of MLM. Atalan Capital Partners LP boosted its position in shares of Martin Marietta Materials by 32.3% during the 1st quarter. Atalan Capital Partners LP now owns 205,000 shares of the construction company’s stock valued at $42,497,000 after acquiring an additional 50,000 shares during the last quarter. Green Square Capital LLC boosted its position in shares of Martin Marietta Materials by 31.9% during the 1st quarter. Green Square Capital LLC now owns 3,808 shares of the construction company’s stock valued at $789,000 after acquiring an additional 920 shares during the last quarter. Bayesian Capital Management LP bought a new position in shares of Martin Marietta Materials during the 1st quarter valued at approximately $788,000. First Foundation Advisors boosted its position in shares of Martin Marietta Materials by 3.2% during the 1st quarter. First Foundation Advisors now owns 85,464 shares of the construction company’s stock valued at $17,717,000 after acquiring an additional 2,623 shares during the last quarter. Finally, Nuveen Asset Management LLC bought a new position in shares of Martin Marietta Materials during the 1st quarter valued at approximately $340,000. Institutional investors and hedge funds own 99.82% of the company’s stock.
In related news, EVP Roselyn R. Bar sold 5,998 shares of the stock in a transaction on Friday, May 11th. The stock was sold at an average price of $213.67, for a total transaction of $1,281,592.66. Following the sale, the executive vice president now owns 53,854 shares in the company, valued at approximately $11,506,984.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman C Howard Nye sold 8,409 shares of the stock in a transaction on Wednesday, May 9th. The shares were sold at an average price of $212.66, for a total value of $1,788,257.94. Following the sale, the chairman now owns 146,977 shares in the company, valued at approximately $31,256,128.82. The disclosure for this sale can be found here. Insiders have sold a total of 21,633 shares of company stock worth $4,682,373 in the last 90 days. 0.75% of the stock is currently owned by insiders.
A number of research firms have recently commented on MLM. Citigroup set a $262.00 target price on Martin Marietta Materials and gave the company a “buy” rating in a research report on Tuesday, May 15th. ValuEngine upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Tuesday, May 8th. Stephens reiterated a “hold” rating and set a $233.00 target price on shares of Martin Marietta Materials in a research report on Friday, April 13th. SunTrust Banks lowered their target price on Martin Marietta Materials to $226.00 and set a “buy” rating for the company in a research report on Thursday, May 3rd. They noted that the move was a valuation call. Finally, Bank of America upgraded Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $229.00 target price for the company in a research report on Wednesday, May 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $238.13.
NYSE:MLM opened at $227.58 on Wednesday. Martin Marietta Materials, Inc. has a fifty-two week low of $189.26 and a fifty-two week high of $241.33. The firm has a market cap of $14.52 billion, a P/E ratio of 31.70, a P/E/G ratio of 1.74 and a beta of 1.17. The company has a debt-to-equity ratio of 0.58, a quick ratio of 3.06 and a current ratio of 4.00.
Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Tuesday, May 8th. The construction company reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.09). Martin Marietta Materials had a net margin of 17.36% and a return on equity of 9.47%. The company had revenue of $802.00 million for the quarter, compared to analysts’ expectations of $822.23 million. During the same quarter in the previous year, the company posted $0.67 EPS. The business’s quarterly revenue was down 5.0% on a year-over-year basis. sell-side analysts forecast that Martin Marietta Materials, Inc. will post 9.22 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 1st will be issued a dividend of $0.44 per share. The ex-dividend date is Thursday, May 31st. This represents a $1.76 annualized dividend and a yield of 0.77%. Martin Marietta Materials’s payout ratio is presently 24.51%.
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 provides crushed stone, sand, and gravel products; ready mixed concrete, and asphalt and paving products; 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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