American International Group Inc. raised its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 6.0% in the third quarter, HoldingsChannel.com reports. The firm owned 24,867 shares of the construction company’s stock after buying an additional 1,417 shares during the quarter. American International Group Inc.’s holdings in Martin Marietta Materials were worth $4,525,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in MLM. Robeco Institutional Asset Management B.V. bought a new position in shares of Martin Marietta Materials during the 3rd quarter valued at approximately $110,000. Flagship Harbor Advisors LLC bought a new position in shares of Martin Marietta Materials during the 2nd quarter valued at approximately $128,000. Piedmont Investment Advisors LLC bought a new position in shares of Martin Marietta Materials during the 2nd quarter valued at approximately $160,000. MERIAN GLOBAL INVESTORS UK Ltd bought a new position in shares of Martin Marietta Materials during the 3rd quarter valued at approximately $181,000. Finally, NuWave Investment Management LLC grew its stake in shares of Martin Marietta Materials by 18,400.0% during the 3rd quarter. NuWave Investment Management LLC now owns 1,110 shares of the construction company’s stock valued at $202,000 after acquiring an additional 1,104 shares during the period.
NYSE MLM opened at $181.48 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.04 and a current ratio of 1.88. Martin Marietta Materials, Inc. has a 12 month low of $150.75 and a 12 month high of $241.33. The company has a market capitalization of $11.60 billion, a P/E ratio of 25.28, a price-to-earnings-growth ratio of 1.85 and a beta of 1.14.
Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Tuesday, November 6th. The construction company reported $2.85 EPS for the quarter, topping the Zacks’ consensus estimate of $2.64 by $0.21. Martin Marietta Materials had a return on equity of 10.78% and a net margin of 17.95%. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the previous year, the firm earned $2.39 EPS. The firm’s revenue was up 12.1% compared to the same quarter last year. As a group, equities analysts forecast that Martin Marietta Materials, Inc. will post 8.13 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Monday, December 3rd will be issued a $0.48 dividend. The ex-dividend date of this dividend is Friday, November 30th. This represents a $1.92 dividend on an annualized basis and a yield of 1.06%. Martin Marietta Materials’s dividend payout ratio is presently 26.74%.
In related news, SVP Donald A. Mccunniff sold 1,476 shares of the business’s stock in a transaction that occurred on Friday, November 9th. The stock was sold at an average price of $185.50, for a total value of $273,798.00. Following the transaction, the senior vice president now directly owns 14,467 shares of the company’s stock, valued at approximately $2,683,628.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.75% of the stock is currently owned by insiders.
MLM has been the subject of a number of recent research reports. Nomura initiated coverage on Martin Marietta Materials in a research note on Monday, October 29th. They set a “buy” rating and a $220.00 price objective for the company. Barclays set a $215.00 price objective on Martin Marietta Materials and gave the company a “hold” rating in a research note on Friday, September 28th. ValuEngine upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Tuesday, August 28th. Stephens set a $204.00 price objective on Martin Marietta Materials and gave the company a “hold” rating in a research note on Tuesday, November 13th. Finally, DA Davidson set a $200.00 price objective on Martin Marietta Materials and gave the company a “hold” rating in a research note on Thursday, October 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. Martin Marietta Materials has an average rating of “Hold” and a consensus target price of $219.11.
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Martin Marietta Materials 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 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.
See Also: Ex-Dividend
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