The Strategy Asset Managers LLC Holds Stake in Martin Marietta Materials, Inc. (MLM)

The Strategy Asset Managers LLC Holds Stake in Martin Marietta Materials, Inc. (MLM)

Strategy Asset Managers LLC maintained its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the third quarter, Holdings Channel reports. The firm owned 1,976 shares of the company’s stock at the end of the third quarter. Strategy Asset Managers LLC’s holdings in Martin Marietta Materials were worth $354,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CG Asset Management LLC boosted its position in shares of Martin Marietta Materials by 75.7% in the second quarter. CG Asset Management LLC now owns 11,510 shares of the company’s stock valued at $2,210,000 after buying an additional 4,960 shares during the last quarter. ING Groep NV boosted its position in shares of Martin Marietta Materials by 51.0% in the second quarter. ING Groep NV now owns 2,201 shares of the company’s stock valued at $422,000 after buying an additional 743 shares during the last quarter. Chase Investment Counsel Corp boosted its position in shares of Martin Marietta Materials by 5.4% in the second quarter. Chase Investment Counsel Corp now owns 26,780 shares of the company’s stock valued at $5,141,000 after buying an additional 1,377 shares during the last quarter. First Dallas Securities Inc. acquired a new position in shares of Martin Marietta Materials during the second quarter valued at approximately $315,000. Finally, Candriam Luxembourg S.C.A. acquired a new position in shares of Martin Marietta Materials during the second quarter valued at approximately $458,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

Martin Marietta Materials, Inc. (NYSE:MLM) traded up 2.50% during mid-day trading on Wednesday, reaching $225.36. 622,901 shares of the company’s stock traded hands. The stock 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 price of $223.66 and a 200-day moving average price of $199.96. Martin Marietta Materials, Inc. has a 12 month low of $108.31 and a 12 month high of $236.41.

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

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Thursday, December 1st were paid a $0.42 dividend. The ex-dividend date of this dividend was Tuesday, November 29th. This represents a $1.68 annualized dividend and a dividend yield of 0.75%. Martin Marietta Materials’s dividend payout ratio is currently 26.50%.

Several brokerages recently commented on MLM. Bank of America Corporation cut shares of Martin Marietta Materials from a “buy” rating to a “neutral” rating in a report on Wednesday, November 16th. They noted that the move was a valuation call. Stephens cut shares of Martin Marietta Materials from an “overweight” rating to an “equal weight” rating in a report on Thursday, November 17th. SunTrust Banks, Inc. upgraded shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $206.00 target price for the company in a report on Wednesday, October 26th. Zacks Investment Research cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Finally, Goldman Sachs Group, Inc. (The) cut shares of Martin Marietta Materials from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $210.00 to $202.00 in a report on Tuesday, October 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. Martin Marietta Materials has a consensus rating of “Hold” and a consensus price target of $203.43.

In related news, CFO Anne H. Lloyd sold 498 shares of Martin Marietta Materials stock in a transaction on Friday, December 9th. The shares were sold at an average price of $229.18, for a total value of $114,131.64. Following the completion of the sale, the chief financial officer now owns 56,264 shares of the company’s stock, valued at approximately $12,894,583.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman C Howard Nye sold 8,691 shares of Martin Marietta Materials stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $224.68, for a total transaction of $1,952,693.88. Following the completion of the sale, the chairman now directly owns 120,406 shares of the company’s stock, valued at approximately $27,052,820.08. The disclosure for this sale can be found here. 1.06% of the stock is currently owned by insiders.

Martin Marietta Materials Company Profile

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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