Martin Marietta Materials, Inc. (MLM) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC decreased its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 17.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,115 shares of the construction company’s stock after selling 6,514 shares during the quarter. Hsbc Holdings PLC’s holdings in Martin Marietta Materials were worth $5,661,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in MLM. Morgan Stanley lifted its position in Martin Marietta Materials by 27.9% in the 2nd quarter. Morgan Stanley now owns 3,492,115 shares of the construction company’s stock worth $779,894,000 after buying an additional 760,872 shares in the last quarter. Standard Life Aberdeen plc increased its stake in shares of Martin Marietta Materials by 226.2% during the 2nd quarter. Standard Life Aberdeen plc now owns 739,350 shares of the construction company’s stock worth $165,130,000 after purchasing an additional 512,723 shares during the last quarter. FMR LLC increased its stake in shares of Martin Marietta Materials by 37.9% during the 2nd quarter. FMR LLC now owns 1,831,320 shares of the construction company’s stock worth $408,988,000 after purchasing an additional 503,126 shares during the last quarter. Findlay Park Partners LLP increased its stake in shares of Martin Marietta Materials by 27.1% during the 3rd quarter. Findlay Park Partners LLP now owns 857,091 shares of the construction company’s stock worth $155,948,000 after purchasing an additional 182,668 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Martin Marietta Materials by 19.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,006,654 shares of the construction company’s stock worth $224,815,000 after purchasing an additional 161,522 shares during the last quarter.

In related news, SVP Donald A. Mccunniff sold 1,476 shares of the firm’s stock in a transaction on Friday, November 9th. The shares were sold at an average price of $185.50, for a total value of $273,798.00. Following the transaction, the senior vice president now directly owns 14,467 shares in the company, valued at approximately $2,683,628.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.75% of the company’s stock.

Shares of MLM opened at $181.48 on Friday. Martin Marietta Materials, Inc. has a 12 month low of $150.75 and a 12 month high of $241.33. The firm has a market cap of $11.67 billion, a PE ratio of 22.87, a price-to-earnings-growth ratio of 1.86 and a beta of 1.14. The company has a current ratio of 1.88, a quick ratio of 1.04 and a debt-to-equity ratio of 0.57.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Tuesday, November 6th. The construction company reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.21. Martin Marietta Materials had a net margin of 17.95% and a return on equity of 10.78%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the business posted $2.39 EPS. Martin Marietta Materials’s revenue was up 12.1% compared to the same quarter last year. Equities research analysts forecast that Martin Marietta Materials, Inc. will post 8.13 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Monday, December 3rd will be paid a $0.48 dividend. The ex-dividend date of this dividend is Friday, November 30th. This represents a $1.92 dividend on an annualized basis and a yield of 1.06%. Martin Marietta Materials’s payout ratio is presently 26.74%.

Several research analysts have recently commented on MLM shares. ValuEngine upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Tuesday, August 28th. Barclays set a $215.00 price target on shares of Martin Marietta Materials and gave the stock a “hold” rating in a research note on Friday, September 28th. DA Davidson set a $200.00 price target on shares of Martin Marietta Materials and gave the stock a “hold” rating in a research note on Thursday, October 11th. Bank of America lowered shares of Martin Marietta Materials from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $225.00 to $179.00 in a research note on Wednesday, October 17th. Finally, Stephens set a $187.00 price target on shares of Martin Marietta Materials and gave the stock a “hold” rating in a research note on Wednesday, October 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price 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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Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

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