Steginsky Capital LLC lowered its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 3.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,584 shares of the construction company’s stock after selling 2,640 shares during the period. Martin Marietta Materials comprises about 15.8% of Steginsky Capital LLC’s holdings, making the stock its 2nd largest position. Steginsky Capital LLC owned about 0.13% of Martin Marietta Materials worth $18,242,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TimesSquare Capital Management LLC boosted its position in shares of Martin Marietta Materials by 26.7% in the first quarter. TimesSquare Capital Management LLC now owns 703,550 shares of the construction company’s stock worth $153,550,000 after buying an additional 148,365 shares in the last quarter. Brant Point Investment Management LLC bought a new position in shares of Martin Marietta Materials during the first quarter worth $2,183,000. L & S Advisors Inc bought a new position in shares of Martin Marietta Materials during the first quarter worth $669,000. South Dakota Investment Council bought a new position in shares of Martin Marietta Materials during the first quarter worth $873,000. Finally, Rothschild Asset Management Inc. bought a new position in shares of Martin Marietta Materials during the first quarter worth $544,000. 97.23% of the stock is currently owned by hedge funds and other institutional investors.
Martin Marietta Materials, Inc. (MLM) traded down 1.12% during mid-day trading on Tuesday, hitting $229.14. The stock had a trading volume of 402,156 shares. Martin Marietta Materials, Inc. has a one year low of $167.06 and a one year high of $244.32. The stock’s 50 day moving average price is $230.98 and its 200 day moving average price is $223.45. The firm has a market capitalization of $14.39 billion, a price-to-earnings ratio of 34.58 and a beta of 1.21.
Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Tuesday, May 2nd. The construction company reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.05. The company had revenue of $791.70 million for the quarter, compared to analyst estimates of $729.28 million. Martin Marietta Materials had a net margin of 10.91% and a return on equity of 10.32%. The firm’s revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the business earned $0.69 earnings per share. Analysts forecast that Martin Marietta Materials, Inc. will post $7.14 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 1st will be given a $0.42 dividend. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $1.68 annualized dividend and a dividend yield of 0.73%. Martin Marietta Materials’s dividend payout ratio (DPR) is 25.42%.
Several equities analysts have weighed in on MLM shares. Citigroup Inc. started coverage on Martin Marietta Materials in a research note on Wednesday, March 29th. They set a “buy” rating and a $245.00 target price on the stock. Cleveland Research upgraded Martin Marietta Materials from a “neutral” rating to a “buy” rating in a report on Friday, March 31st. Zacks Investment Research upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Tuesday, April 18th. Stifel Nicolaus lifted their price target on Martin Marietta Materials from $258.00 to $265.00 and gave the company a “buy” rating in a report on Wednesday, May 3rd. Finally, Stephens lifted their price target on Martin Marietta Materials from $246.00 to $250.00 and gave the company an “equal weight” rating in a report on Thursday, May 4th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Martin Marietta Materials currently has a consensus rating of “Hold” and a consensus price target of $229.29.
In other news, CFO Anne H. Lloyd sold 6,472 shares of Martin Marietta Materials stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $238.73, for a total value of $1,545,060.56. Following the sale, the chief financial officer now owns 69,941 shares in the company, valued at $16,697,014.93. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Donald A. Mccunniff sold 1,391 shares of Martin Marietta Materials stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $240.17, for a total transaction of $334,076.47. Following the completion of the sale, the senior vice president now owns 19,858 shares in the company, valued at approximately $4,769,295.86. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,121 shares of company stock worth $4,332,440. Company insiders own 1.06% of the company’s stock.
Martin Marietta Materials Company 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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