The Stifel Financial Corp Acquires 2,733 Shares of Martin Marietta Materials, Inc. (MLM)

The Stifel Financial Corp Acquires 2,733 Shares of Martin Marietta Materials, Inc. (MLM)

Stifel Financial Corp boosted its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 8.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,055 shares of the construction company’s stock after purchasing an additional 2,733 shares during the period. Stifel Financial Corp owned about 0.06% of Martin Marietta Materials worth $7,783,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Martin Marietta Materials by 2.4% during the second quarter. Vanguard Group Inc. now owns 6,379,214 shares of the construction company’s stock worth $1,419,885,000 after purchasing an additional 149,816 shares during the period. BlackRock Inc. lifted its stake in Martin Marietta Materials by 2.2% during the second quarter. BlackRock Inc. now owns 3,817,803 shares of the construction company’s stock worth $849,766,000 after purchasing an additional 81,136 shares during the period. Egerton Capital UK LLP lifted its stake in Martin Marietta Materials by 329.1% during the second quarter. Egerton Capital UK LLP now owns 1,967,865 shares of the construction company’s stock worth $438,007,000 after purchasing an additional 1,509,258 shares during the period. Aristotle Capital Management LLC lifted its stake in Martin Marietta Materials by 4.8% during the first quarter. Aristotle Capital Management LLC now owns 1,544,722 shares of the construction company’s stock worth $337,136,000 after purchasing an additional 70,095 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in Martin Marietta Materials by 3.4% during the second quarter. Principal Financial Group Inc. now owns 1,378,563 shares of the construction company’s stock worth $306,840,000 after purchasing an additional 45,402 shares during the period. Hedge funds and other institutional investors own 95.78% of the company’s stock.

In other news, Director John J. Koraleski acquired 500 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The shares were bought at an average cost of $198.37 per share, with a total value of $99,185.00. Following the transaction, the director now owns 1,439 shares of the company’s stock, valued at approximately $285,454.43. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 8.45% of the company’s stock.

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) traded down 0.68% during mid-day trading on Friday, hitting $204.57. 297,167 shares of the company were exchanged. The company’s 50-day moving average price is $204.62 and its 200-day moving average price is $217.79. The firm has a market capitalization of $12.85 billion, a P/E ratio of 29.44 and a beta of 1.13. Martin Marietta Materials, Inc. has a 12-month low of $172.38 and a 12-month high of $244.32.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Tuesday, August 1st. The construction company reported $2.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.38 by ($0.13). Martin Marietta Materials had a return on equity of 10.69% and a net margin of 11.19%. The business had revenue of $996.30 million during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the company earned $1.90 earnings per share. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. Equities research analysts predict that Martin Marietta Materials, Inc. will post $7.14 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Tuesday, September 5th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 0.86%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.42. The ex-dividend date was Thursday, August 31st. Martin Marietta Materials’s dividend payout ratio is 25.29%.

A number of brokerages have commented on MLM. Jefferies Group LLC restated a “buy” rating and set a $240.00 price target on shares of Martin Marietta Materials in a research note on Wednesday. Citigroup Inc. reiterated a “buy” rating and issued a $260.00 target price (down previously from $270.00) on shares of Martin Marietta Materials in a research note on Monday, October 9th. Zacks Investment Research upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Tuesday, September 12th. Finally, BidaskClub cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $244.20.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.

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