Lipe & Dalton Acquires 1,532 Shares of Martin Marietta Materials, Inc. (MLM)

Lipe & Dalton increased its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 12.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,711 shares of the construction company’s stock after purchasing an additional 1,532 shares during the period. Martin Marietta Materials accounts for 1.7% of Lipe & Dalton’s investment portfolio, making the stock its 24th largest holding. Lipe & Dalton’s holdings in Martin Marietta Materials were worth $2,495,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of MLM. Morgan Stanley lifted its stake in shares of Martin Marietta Materials by 27.9% in the 2nd quarter. Morgan Stanley now owns 3,492,115 shares of the construction company’s stock worth $779,894,000 after acquiring an additional 760,872 shares during the period. Standard Life Aberdeen plc lifted its stake in shares of Martin Marietta Materials by 226.2% in the 2nd quarter. Standard Life Aberdeen plc now owns 739,350 shares of the construction company’s stock worth $165,130,000 after acquiring an additional 512,723 shares during the period. FMR LLC lifted its stake in shares of Martin Marietta Materials by 37.9% in the 2nd quarter. FMR LLC now owns 1,831,320 shares of the construction company’s stock worth $408,988,000 after acquiring an additional 503,126 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Martin Marietta Materials by 19.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,006,654 shares of the construction company’s stock worth $224,815,000 after acquiring an additional 161,522 shares during the period. Finally, Select Equity Group L.P. lifted its stake in shares of Martin Marietta Materials by 6.6% in the 2nd quarter. Select Equity Group L.P. now owns 1,937,854 shares of the construction company’s stock worth $432,781,000 after acquiring an additional 119,936 shares during the period.

Shares of NYSE MLM opened at $189.55 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 2.05 and a debt-to-equity ratio of 0.60. Martin Marietta Materials, Inc. has a 52 week low of $150.75 and a 52 week high of $241.33. The stock has a market capitalization of $11.18 billion, a P/E ratio of 26.40, a P/E/G ratio of 1.46 and a beta of 1.09.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Tuesday, November 6th. The construction company reported $2.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.64 by $0.21. Martin Marietta Materials had a net margin of 17.82% and a return on equity of 10.52%. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the business earned $2.39 earnings per share. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, research analysts anticipate that Martin Marietta Materials, Inc. will post 8.54 EPS for the current fiscal year.

In related news, SVP Donald A. Mccunniff sold 2,250 shares of the firm’s stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $204.33, for a total value of $459,742.50. Following the completion of the sale, the senior vice president now owns 12,649 shares in the company, valued at $2,584,570.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.75% of the stock is owned by company insiders.

Several analysts have recently commented on the stock. Citigroup reduced their target price on shares of Martin Marietta Materials from $262.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, July 30th. Stephens set a $187.00 target price on shares of Martin Marietta Materials and gave the stock a “hold” rating in a research note on Wednesday, October 17th. ValuEngine cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Saturday, July 28th. Stifel Nicolaus raised their target price on shares of Martin Marietta Materials from $256.00 to $260.00 and gave the stock a “buy” rating in a research note on Friday, July 27th. Finally, Bank of America cut shares of Martin Marietta Materials from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $225.00 to $179.00 in a research note on Wednesday, October 17th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $221.67.

TRADEMARK VIOLATION WARNING: This report was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this report on another domain, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The correct version of this report can be viewed at https://www.dispatchtribunal.com/2018/11/07/lipe-dalton-acquires-1532-shares-of-martin-marietta-materials-inc-mlm.html.

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.

Recommended Story: Why do companies engage in swaps?

Want to see what other hedge funds are holding MLM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Martin Marietta Materials, Inc. (NYSE:MLM).

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

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


Leave a Reply