Icon Advisers Inc. Co. Raises Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Icon Advisers Inc. Co. lifted its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 53.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,710 shares of the construction company’s stock after buying an additional 10,700 shares during the quarter. Icon Advisers Inc. Co.’s holdings in Martin Marietta Materials were worth $7,067,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Valeo Financial Advisors LLC boosted its position in shares of Martin Marietta Materials by 4.9% in the second quarter. Valeo Financial Advisors LLC now owns 1,070 shares of the construction company’s stock worth $246,000 after acquiring an additional 50 shares during the last quarter. Hartford Investment Management Co. boosted its position in shares of Martin Marietta Materials by 0.8% in the second quarter. Hartford Investment Management Co. now owns 6,851 shares of the construction company’s stock worth $1,576,000 after acquiring an additional 53 shares during the last quarter. Dupont Capital Management Corp boosted its position in shares of Martin Marietta Materials by 1.8% in the second quarter. Dupont Capital Management Corp now owns 3,252 shares of the construction company’s stock worth $748,000 after acquiring an additional 56 shares during the last quarter. CWM LLC boosted its position in shares of Martin Marietta Materials by 22.5% in the second quarter. CWM LLC now owns 310 shares of the construction company’s stock worth $71,000 after acquiring an additional 57 shares during the last quarter. Finally, Lantz Financial LLC boosted its position in shares of Martin Marietta Materials by 1.0% in the second quarter. Lantz Financial LLC now owns 6,386 shares of the construction company’s stock worth $1,448,000 after acquiring an additional 65 shares during the last quarter.

Several research firms recently issued reports on MLM. Longbow Research raised their target price on shares of Martin Marietta Materials from $260.00 to $265.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. ValuEngine raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Citigroup raised their target price on shares of Martin Marietta Materials from $239.00 to $255.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Zacks Investment Research raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $250.00 target price on the stock in a research report on Monday, May 6th. Finally, Jefferies Financial Group raised their target price on shares of Martin Marietta Materials from $265.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company’s stock. Martin Marietta Materials has a consensus rating of “Buy” and an average price target of $226.37.

In other news, Director Laree E. Perez sold 824 shares of Martin Marietta Materials stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $231.80, for a total transaction of $191,003.20. Following the sale, the director now owns 14,136 shares in the company, valued at $3,276,724.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Roselyn R. Bar sold 2,821 shares of Martin Marietta Materials stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $246.93, for a total transaction of $696,589.53. Following the sale, the executive vice president now owns 57,149 shares in the company, valued at approximately $14,111,802.57. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,869 shares of company stock worth $3,622,433. 0.73% of the stock is currently owned by corporate insiders.

MLM stock traded up $4.30 during midday trading on Friday, reaching $254.38. 2,553 shares of the company’s stock traded hands, compared to its average volume of 719,005. The company has a market capitalization of $15.70 billion, a P/E ratio of 31.43, a PEG ratio of 2.36 and a beta of 1.13. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.86 and a quick ratio of 1.08. Martin Marietta Materials, Inc. has a fifty-two week low of $150.75 and a fifty-two week high of $252.91. The business has a 50-day moving average price of $233.96 and a two-hundred day moving average price of $213.07.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Tuesday, July 30th. The construction company reported $3.01 earnings per share for the quarter, missing analysts’ consensus estimates of $3.08 by ($0.07). The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. Martin Marietta Materials had a net margin of 11.37% and a return on equity of 10.35%. The company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the firm earned $3.25 earnings per share. As a group, research analysts forecast that Martin Marietta Materials, Inc. will post 9.34 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.86%. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, August 30th. Martin Marietta Materials’s payout ratio is 23.73%.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy building materials to the construction industry in the United States and internationally. The company offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.

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Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

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