Daiwa Securities Group Inc. Decreases Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Daiwa Securities Group Inc. lowered its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 16.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 23,788 shares of the construction company’s stock after selling 4,596 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Martin Marietta Materials were worth $6,520,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of MLM. Destination Wealth Management boosted its stake in Martin Marietta Materials by 825.0% in the 2nd quarter. Destination Wealth Management now owns 111 shares of the construction company’s stock worth $26,000 after purchasing an additional 99 shares during the period. Rational Advisors LLC boosted its position in shares of Martin Marietta Materials by 2,160.0% during the 2nd quarter. Rational Advisors LLC now owns 113 shares of the construction company’s stock valued at $26,000 after acquiring an additional 108 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of Martin Marietta Materials during the 2nd quarter valued at about $31,000. Capital Investment Advisory Services LLC boosted its position in shares of Martin Marietta Materials by 153.3% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 152 shares of the construction company’s stock valued at $34,000 after acquiring an additional 92 shares during the last quarter. Finally, Commonwealth Bank of Australia boosted its position in shares of Martin Marietta Materials by 28.1% during the 2nd quarter. Commonwealth Bank of Australia now owns 196 shares of the construction company’s stock valued at $43,000 after acquiring an additional 43 shares during the last quarter.

Martin Marietta Materials stock traded down $0.65 during trading hours on Friday, reaching $256.90. The company had a trading volume of 605,951 shares, compared to its average volume of 622,069. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.29 and a quick ratio of 1.35. The company has a 50-day moving average price of $265.89 and a 200 day moving average price of $240.50. The firm has a market cap of $15.83 billion, a price-to-earnings ratio of 31.76, a P/E/G ratio of 2.35 and a beta of 1.13. Martin Marietta Materials, Inc. has a 12-month low of $160.60 and a 12-month high of $275.99.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Tuesday, October 29th. The construction company reported $3.96 EPS for the quarter, topping the Zacks’ consensus estimate of $3.50 by $0.46. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Martin Marietta Materials had a return on equity of 11.52% and a net margin of 12.35%. The business’s quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.85 EPS. As a group, research analysts expect that Martin Marietta Materials, Inc. will post 9.65 earnings per share for the current year.

In other Martin Marietta Materials news, CEO C Howard Nye sold 7,440 shares of Martin Marietta Materials stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $253.52, for a total value of $1,886,188.80. Following the transaction, the chief executive officer now directly owns 154,544 shares of the company’s stock, valued at approximately $39,179,994.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.73% of the stock is owned by insiders.

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Martin Marietta Materials from $265.00 to $285.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Exane BNP Paribas started coverage on Martin Marietta Materials in a research report on Wednesday, October 9th. They issued an “underperform” rating for the company. Longbow Research set a $265.00 target price on Martin Marietta Materials and gave the stock a “buy” rating in a research report on Friday, August 30th. ValuEngine downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, DA Davidson boosted their target price on Martin Marietta Materials to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $259.38.

Martin Marietta Materials 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.

Further Reading: Fundamental Analysis

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

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