Russell Investments Group Ltd. reduced its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 2.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 102,564 shares of the construction company’s stock after selling 2,924 shares during the period. Russell Investments Group Ltd. owned 0.16% of Martin Marietta Materials worth $27,931,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of MLM. Destination Wealth Management lifted its holdings in shares of Martin Marietta Materials by 825.0% in the 2nd quarter. Destination Wealth Management now owns 111 shares of the construction company’s stock valued at $26,000 after purchasing an additional 99 shares during the last quarter. Rational Advisors LLC lifted its holdings in shares of Martin Marietta Materials by 2,160.0% in the 2nd quarter. Rational Advisors LLC now owns 113 shares of the construction company’s stock valued at $26,000 after purchasing an additional 108 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of Martin Marietta Materials in the 2nd quarter valued at about $31,000. Capital Investment Advisory Services LLC raised its stake in 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 raised its stake in 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.
NYSE MLM opened at $257.55 on Friday. The company has a current ratio of 2.29, a quick ratio of 1.35 and a debt-to-equity ratio of 0.60. The business’s 50 day moving average is $265.89 and its two-hundred day moving average is $240.50. Martin Marietta Materials, Inc. has a 12-month low of $160.60 and a 12-month high of $275.99. The stock has a market capitalization of $15.83 billion, a price-to-earnings ratio of 31.84, a PEG ratio of 2.35 and a beta of 1.13.
Martin Marietta Materials (NYSE:MLM) last released its earnings results on Tuesday, October 29th. The construction company reported $3.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.50 by $0.46. Martin Marietta Materials had a return on equity of 11.52% and a net margin of 12.35%. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the firm posted $2.85 EPS. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. Equities analysts forecast that Martin Marietta Materials, Inc. will post 9.65 earnings per share for the current fiscal year.
In other Martin Marietta Materials news, CEO C Howard Nye sold 7,440 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $253.52, for a total transaction of $1,886,188.80. Following the transaction, the chief executive officer now owns 154,544 shares in the company, valued at approximately $39,179,994.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.73% of the company’s stock.
Several research firms have commented on MLM. Longbow Research set a $265.00 price objective on Martin Marietta Materials and gave the company a “buy” rating in a research note on Friday, August 30th. ValuEngine downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Tuesday. Stifel Nicolaus upped their price objective on Martin Marietta Materials from $262.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Jefferies Financial Group upped their price objective on Martin Marietta Materials from $265.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, SunTrust Banks upped their price objective on Martin Marietta Materials from $285.00 to $295.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company. Martin Marietta Materials has an average rating of “Hold” and a consensus price target of $259.38.
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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