Atalanta Sosnoff Capital LLC Lowers Position in Martin Marietta Materials, Inc. (MLM)

Atalanta Sosnoff Capital LLC decreased its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 7.7% during the second quarter, Holdings Channel reports. The institutional investor owned 112,209 shares of the construction company’s stock after selling 9,381 shares during the period. Atalanta Sosnoff Capital LLC’s holdings in Martin Marietta Materials were worth $24,976,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in MLM. First Personal Financial Services raised its stake in Martin Marietta Materials by 4.5% in the first quarter. First Personal Financial Services now owns 513 shares of the construction company’s stock valued at $112,000 after buying an additional 22 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in Martin Marietta Materials during the second quarter valued at $134,000. FNY Partners Fund LP purchased a new stake in Martin Marietta Materials during the first quarter valued at $174,000. Tiedemann Wealth Management LLC raised its stake in Martin Marietta Materials by 7.2% in the first quarter. Tiedemann Wealth Management LLC now owns 1,051 shares of the construction company’s stock valued at $229,000 after buying an additional 71 shares in the last quarter. Finally, Shufro Rose & Co. LLC purchased a new stake in Martin Marietta Materials during the first quarter valued at $229,000. Institutional investors own 96.34% of the company’s stock.

Shares of Martin Marietta Materials, Inc. (MLM) traded down 0.73% on Thursday, reaching $222.32. The company’s stock had a trading volume of 96,878 shares. The firm has a market capitalization of $13.96 billion, a PE ratio of 33.55 and a beta of 1.14. The firm has a 50-day moving average price of $227.05 and a 200 day moving average price of $223.51. Martin Marietta Materials, Inc. has a one year low of $167.06 and a one year high of $244.32.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Tuesday, May 2nd. The construction company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.05. The business had revenue of $791.70 million for the quarter, compared to analysts’ expectations of $729.28 million. Martin Marietta Materials had a return on equity of 10.32% and a net margin of 10.91%. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.69 EPS. On average, analysts anticipate that Martin Marietta Materials, Inc. will post $7.14 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 1st were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Tuesday, May 30th. This represents a $1.68 annualized dividend and a yield of 0.75%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 25.42%.

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Several equities research analysts recently weighed in on the company. BidaskClub upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Zacks Investment Research upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Monday, May 1st. 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 research report on Thursday, May 4th. Cleveland Research upgraded Martin Marietta Materials from a “neutral” rating to a “buy” rating in a research report on Friday, March 31st. Finally, 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 research report on Wednesday, May 3rd. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $229.67.

In other Martin Marietta Materials news, Chairman C Howard Nye sold 10,258 shares of the stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $239.16, for a total transaction of $2,453,303.28. Following the sale, the chairman now owns 143,038 shares of the company’s stock, valued at approximately $34,208,968.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Donald A. Mccunniff sold 1,391 shares of the stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $240.17, for a total value of $334,076.47. Following the sale, the senior vice president now directly owns 19,858 shares in the company, valued at approximately $4,769,295.86. The disclosure for this sale can be found here. Insiders have sold a total of 18,121 shares of company stock worth $4,332,440 in the last ninety days. 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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Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

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