The Martin Marietta Materials Inc. (MLM) Stake Cut by Gilder Gagnon Howe & Co. LLC

The Martin Marietta Materials Inc. (MLM) Stake Cut by Gilder Gagnon Howe & Co. LLC

Gilder Gagnon Howe & Co. LLC cut its stake in Martin Marietta Materials Inc. (NYSE:MLM) by 7.4% during the third quarter, Holdings Channel reports. The institutional investor owned 306,688 shares of the company’s stock after selling 24,460 shares during the period. Gilder Gagnon Howe & Co. LLC owned about 0.48% of Martin Marietta Materials worth $54,931,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MLM. Carroll Financial Associates Inc. increased its position in shares of Martin Marietta Materials by 1.4% in the third quarter. Carroll Financial Associates Inc. now owns 750 shares of the company’s stock valued at $134,000 after buying an additional 10 shares in the last quarter. Conning Inc. increased its position in shares of Martin Marietta Materials by 0.6% in the third quarter. Conning Inc. now owns 1,770 shares of the company’s stock valued at $317,000 after buying an additional 10 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Martin Marietta Materials by 1.5% in the second quarter. Pacer Advisors Inc. now owns 1,118 shares of the company’s stock valued at $215,000 after buying an additional 17 shares in the last quarter. Douglas Lane & Associates LLC increased its position in shares of Martin Marietta Materials by 0.4% in the second quarter. Douglas Lane & Associates LLC now owns 4,532 shares of the company’s stock valued at $870,000 after buying an additional 20 shares in the last quarter. Finally, First American Bank increased its position in shares of Martin Marietta Materials by 0.5% in the third quarter. First American Bank now owns 10,655 shares of the company’s stock valued at $1,908,000 after buying an additional 50 shares in the last quarter. 97.70% of the stock is owned by institutional investors.

Martin Marietta Materials Inc. (NYSE:MLM) opened at 225.36 on Thursday. The company has a market cap of $14.30 billion, a P/E ratio of 35.56 and a beta of 1.43. The company has a 50 day moving average of $223.71 and a 200-day moving average of $200.14. Martin Marietta Materials Inc. has a one year low of $108.31 and a one year high of $236.41.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Tuesday, November 1st. The company reported $2.49 earnings per share for the quarter, missing analysts’ consensus estimates of $2.57 by $0.08. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. Martin Marietta Materials had a return on equity of 9.95% and a net margin of 11.03%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.04 earnings per share. On average, equities analysts expect that Martin Marietta Materials Inc. will post $7.14 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Thursday, December 1st were given a dividend of $0.42 per share. The ex-dividend date was Tuesday, November 29th. This represents a $1.68 dividend on an annualized basis and a yield of 0.75%. Martin Marietta Materials’s payout ratio is presently 26.50%.

Several research analysts have commented on the stock. Zacks Investment Research downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Stephens downgraded shares of Martin Marietta Materials from an “overweight” rating to an “equal weight” rating in a report on Thursday, November 17th. SunTrust Banks Inc. raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $206.00 price objective for the company in a report on Wednesday, October 26th. Goldman Sachs Group Inc. downgraded shares of Martin Marietta Materials from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $210.00 to $202.00 in a report on Tuesday, October 11th. Finally, DA Davidson reissued a “hold” rating and set a $210.00 price objective on shares of Martin Marietta Materials in a report on Sunday, October 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $203.43.

In related news, CFO Anne H. Lloyd sold 498 shares of the business’s stock in a transaction dated Friday, December 9th. The shares were sold at an average price of $229.18, for a total transaction of $114,131.64. Following the transaction, the chief financial officer now directly owns 56,264 shares in the company, valued at $12,894,583.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Dana F. Guzzo sold 2,389 shares of the business’s stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $227.18, for a total transaction of $542,733.02. Following the transaction, the senior vice president now owns 16,837 shares in the company, valued at $3,825,029.66. The disclosure for this sale can be found here. Corporate insiders own 1.06% of the company’s stock.

About Martin Marietta Materials

Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand and gravel) for the construction industry, used for the construction of infrastructure, non-residential, and residential projects. The Company operates through three businesses: Aggregates Business, Cement Business and Magnesia Specialties Business.

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