Franklin Resources Inc. Sells 105,657 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Franklin Resources Inc. trimmed its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 20.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 418,505 shares of the construction company’s stock after selling 105,657 shares during the period. Franklin Resources Inc.’s holdings in Martin Marietta Materials were worth $147,234,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Martin Marietta Materials by 0.3% during the second quarter. Vanguard Group Inc. now owns 6,661,957 shares of the construction company’s stock valued at $2,343,744,000 after acquiring an additional 23,041 shares in the last quarter. BlackRock Inc. grew its stake in Martin Marietta Materials by 3.7% during the second quarter. BlackRock Inc. now owns 4,096,095 shares of the construction company’s stock valued at $1,441,046,000 after acquiring an additional 144,354 shares in the last quarter. Baillie Gifford & Co. grew its stake in Martin Marietta Materials by 0.7% during the second quarter. Baillie Gifford & Co. now owns 3,813,680 shares of the construction company’s stock valued at $1,341,690,000 after acquiring an additional 26,884 shares in the last quarter. Geode Capital Management LLC grew its stake in Martin Marietta Materials by 2.8% during the second quarter. Geode Capital Management LLC now owns 1,158,815 shares of the construction company’s stock valued at $406,608,000 after acquiring an additional 31,330 shares in the last quarter. Finally, Amundi Asset Management US Inc. grew its stake in Martin Marietta Materials by 763.0% during the first quarter. Amundi Asset Management US Inc. now owns 748,889 shares of the construction company’s stock valued at $251,490,000 after acquiring an additional 662,115 shares in the last quarter. 91.77% of the stock is owned by institutional investors.

MLM has been the subject of a number of recent research reports. Loop Capital raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $390.00 price objective for the company in a research note on Wednesday, October 6th. DA Davidson lifted their price objective on shares of Martin Marietta Materials from $350.00 to $400.00 and gave the stock a “neutral” rating in a research note on Monday, August 2nd. Jefferies Financial Group began coverage on shares of Martin Marietta Materials in a research note on Wednesday, August 25th. They issued a “buy” rating and a $440.00 price objective for the company. Finally, Morgan Stanley dropped their price target on shares of Martin Marietta Materials from $405.00 to $391.00 and set an “overweight” rating for the company in a research note on Wednesday. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $350.25.

Shares of Martin Marietta Materials stock opened at $348.97 on Thursday. The firm’s 50 day moving average price is $366.01 and its 200-day moving average price is $359.03. The company has a quick ratio of 1.17, a current ratio of 2.13 and a debt-to-equity ratio of 0.43. Martin Marietta Materials, Inc. has a 52-week low of $239.70 and a 52-week high of $391.76. The company has a market cap of $21.77 billion, a P/E ratio of 28.39 and a beta of 0.63.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Thursday, July 29th. The construction company reported $3.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.91 by ($0.10). The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Martin Marietta Materials had a return on equity of 13.18% and a net margin of 15.81%. During the same period in the previous year, the firm earned $3.49 EPS. As a group, equities research analysts forecast that Martin Marietta Materials, Inc. will post 12.21 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 30th. Stockholders of record on Wednesday, September 1st were issued a $0.61 dividend. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a dividend yield of 0.70%. The ex-dividend date was Tuesday, August 31st. Martin Marietta Materials’s dividend payout ratio is 21.14%.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc engages in the provision of aggregates including crushed stone, sand, and gravel through its network of quarries and distribution yards. It operates through the following geographical segments: East Group and West Group. The East Group segments provide aggregates products only.

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

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