Comerica Bank lowered its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 20.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 12,128 shares of the construction company’s stock after selling 3,097 shares during the quarter. Comerica Bank’s holdings in Martin Marietta Materials were worth $1,988,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in MLM. Robeco Institutional Asset Management B.V. purchased a new position in Martin Marietta Materials in the 3rd quarter valued at $110,000. Flagship Harbor Advisors LLC purchased a new position in Martin Marietta Materials in the 2nd quarter valued at $128,000. Piedmont Investment Advisors LLC purchased a new position in Martin Marietta Materials in the 2nd quarter valued at $160,000. MERIAN GLOBAL INVESTORS UK Ltd purchased a new position in Martin Marietta Materials in the 3rd quarter valued at $181,000. Finally, NuWave Investment Management LLC lifted its holdings in Martin Marietta Materials by 18,400.0% in the 3rd quarter. NuWave Investment Management LLC now owns 1,110 shares of the construction company’s stock valued at $202,000 after purchasing an additional 1,104 shares in the last quarter.
In other news, SVP Donald A. Mccunniff sold 1,476 shares of Martin Marietta Materials stock in a transaction on Friday, November 9th. The stock was sold at an average price of $185.50, for a total transaction of $273,798.00. Following the transaction, the senior vice president now owns 14,467 shares in the company, valued at approximately $2,683,628.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.75% of the stock is owned by insiders.
Shares of MLM stock opened at $196.81 on Friday. Martin Marietta Materials, Inc. has a fifty-two week low of $150.75 and a fifty-two week high of $241.33. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.04 and a current ratio of 1.88. The firm has a market capitalization of $12.07 billion, a price-to-earnings ratio of 27.41, a PEG ratio of 1.92 and a beta of 1.09.
Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Tuesday, November 6th. The construction company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.64 by $0.21. Martin Marietta Materials had a return on equity of 10.78% and a net margin of 17.95%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the firm earned $2.39 EPS. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. Sell-side analysts expect that Martin Marietta Materials, Inc. will post 8.15 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Monday, December 3rd will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, November 30th. This represents a $1.92 annualized dividend and a dividend yield of 0.98%. Martin Marietta Materials’s dividend payout ratio is presently 26.74%.
MLM has been the topic of a number of research reports. SunTrust Banks decreased their price objective on Martin Marietta Materials to $205.00 and set a “buy” rating on the stock in a report on Thursday, November 15th. Citigroup set a $231.00 price objective on Martin Marietta Materials and gave the company a “buy” rating in a report on Thursday, November 8th. Nomura initiated coverage on Martin Marietta Materials in a report on Monday, October 29th. They issued a “buy” rating and a $220.00 price objective on the stock. ValuEngine upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Thursday, November 15th. Finally, Stephens set a $204.00 price objective on Martin Marietta Materials and gave the company a “hold” rating in a report on Tuesday, November 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $219.11.
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About Martin Marietta Materials
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 provides crushed stone, sand, and gravel products; ready mixed concrete, and asphalt and paving products; and 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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