ETF Managers Group LLC raised its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 10.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 692 shares of the construction company’s stock after purchasing an additional 66 shares during the quarter. ETF Managers Group LLC’s holdings in Martin Marietta Materials were worth $139,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the business. Vanguard Group Inc boosted its holdings in shares of Martin Marietta Materials by 0.4% in the 3rd quarter. Vanguard Group Inc now owns 6,653,036 shares of the construction company’s stock valued at $1,210,520,000 after purchasing an additional 28,832 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Martin Marietta Materials by 0.9% in the 4th quarter. BlackRock Inc. now owns 3,945,492 shares of the construction company’s stock valued at $678,110,000 after purchasing an additional 34,666 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Martin Marietta Materials by 7.7% in the 4th quarter. Geode Capital Management LLC now owns 778,969 shares of the construction company’s stock valued at $133,637,000 after purchasing an additional 55,593 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Martin Marietta Materials by 8.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 592,626 shares of the construction company’s stock valued at $101,838,000 after purchasing an additional 45,693 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Martin Marietta Materials in the 4th quarter valued at $97,355,000.
MLM has been the topic of a number of research analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $232.00 target price on shares of Martin Marietta Materials in a report on Tuesday, January 29th. Zacks Investment Research cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Friday, February 15th. Stephens upgraded Martin Marietta Materials from an “equal” rating to an “overweight” rating in a research note on Friday, February 15th. Citigroup set a $211.00 price target on Martin Marietta Materials and gave the company a “buy” rating in a research note on Thursday, February 14th. Finally, Berenberg Bank started coverage on Martin Marietta Materials in a research note on Wednesday, April 3rd. They issued a “hold” rating and a $194.00 price target for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $219.93.
Shares of MLM opened at $212.12 on Friday. Martin Marietta Materials, Inc. has a 52 week low of $150.75 and a 52 week high of $232.88. The firm has a market capitalization of $13.28 billion, a PE ratio of 26.22, a PEG ratio of 2.17 and a beta of 1.15. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.81 and a quick ratio of 0.96.
Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Tuesday, April 30th. The construction company reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.39. Martin Marietta Materials had a return on equity of 10.82% and a net margin of 11.48%. The company had revenue of $938.96 million during the quarter, compared to analysts’ expectations of $881.82 million. During the same period in the prior year, the company earned $0.16 EPS. Martin Marietta Materials’s revenue was up 17.1% compared to the same quarter last year. As a group, analysts expect that Martin Marietta Materials, Inc. will post 9.21 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Friday, May 31st. Martin Marietta Materials’s dividend payout ratio is currently 23.73%.
In related news, Director Sue W. Cole sold 1,500 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $195.07, for a total transaction of $292,605.00. Following the completion of the transaction, the director now directly owns 20,933 shares of the company’s stock, valued at approximately $4,083,400.31. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Donald A. Mccunniff sold 660 shares of the firm’s stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $190.90, for a total value of $125,994.00. Following the transaction, the senior vice president now directly owns 15,349 shares of the company’s stock, valued at $2,930,124.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,011 shares of company stock valued at $4,353,464. 0.73% of the stock is owned by corporate insiders.
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Martin Marietta Materials Company 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 offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; 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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