Penn Capital Management Co. Inc. Acquires Shares of 5,708 Martin Marietta Materials, Inc. (MLM)

Penn Capital Management Co. Inc. acquired a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 5,708 shares of the construction company’s stock, valued at approximately $3,414,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc boosted its holdings in shares of Martin Marietta Materials by 0.4% in the 3rd quarter. Vanguard Group Inc now owns 6,653,036 shares of the construction company’s stock valued at $1,210,520,000 after buying an additional 28,832 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Martin Marietta Materials by 0.9% in the 4th quarter. BlackRock Inc. now owns 3,945,492 shares of the construction company’s stock valued at $678,110,000 after buying an additional 34,666 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Martin Marietta Materials by 7.7% in the 4th quarter. Geode Capital Management LLC now owns 778,969 shares of the construction company’s stock valued at $133,637,000 after buying an additional 55,593 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Martin Marietta Materials by 8.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 592,626 shares of the construction company’s stock valued at $101,838,000 after buying an additional 45,693 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Martin Marietta Materials in the 4th quarter valued at approximately $97,355,000.

Shares of Martin Marietta Materials stock opened at $215.68 on Thursday. Martin Marietta Materials, Inc. has a 1 year low of $150.75 and a 1 year high of $232.88. The firm has a market cap of $13.30 billion, a price-to-earnings ratio of 26.66, a price-to-earnings-growth ratio of 2.09 and a beta of 1.15. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.81 and a quick ratio of 0.96.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Tuesday, April 30th. The construction company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.39. Martin Marietta Materials had a return on equity of 10.82% and a net margin of 11.48%. The business had revenue of $938.96 million during the quarter, compared to the consensus estimate of $881.82 million. During the same quarter last year, the firm posted $0.16 EPS. The company’s quarterly revenue was up 17.1% on a year-over-year basis. On average, sell-side analysts forecast that Martin Marietta Materials, Inc. will post 9.21 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Friday, May 31st. Martin Marietta Materials’s payout ratio is 23.73%.

Several research firms have recently commented on MLM. JPMorgan Chase & Co. began coverage on Martin Marietta Materials in a report on Thursday, March 21st. They issued an “overweight” rating and a $225.00 price objective for the company. Goldman Sachs Group raised Martin Marietta Materials from a “neutral” rating to a “buy” rating and increased their price objective for the company from $207.00 to $232.00 in a report on Thursday, April 11th. Citigroup raised their price target on Martin Marietta Materials from $239.00 to $255.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Bank of America downgraded Martin Marietta Materials from a “neutral” rating to an “underperform” rating in a report on Tuesday, April 16th. Finally, Deutsche Bank raised their price target on Martin Marietta Materials from $198.00 to $207.00 and gave the company a “buy” rating in a report on Wednesday, February 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. Martin Marietta Materials currently has a consensus rating of “Buy” and a consensus target price of $219.93.

In other Martin Marietta Materials news, Chairman C Howard Nye sold 14,668 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $220.48, for a total transaction of $3,234,000.64. Following the transaction, the chairman now owns 167,019 shares in the company, valued at approximately $36,824,349.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Donald A. Mccunniff sold 660 shares of the stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $190.90, for a total value of $125,994.00. Following the transaction, the senior vice president now owns 15,349 shares in the company, valued at approximately $2,930,124.10. The disclosure for this sale can be found here. Insiders have sold a total of 20,011 shares of company stock worth $4,353,464 in the last quarter. Company insiders own 0.73% of the company’s stock.

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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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