Fiduciary Trust Co. maintained its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,451 shares of the construction company’s stock at the end of the second quarter. Fiduciary Trust Co.’s holdings in Martin Marietta Materials were worth $323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently modified their holdings of MLM. First Personal Financial Services lifted its holdings in shares of Martin Marietta Materials by 4.5% in the 1st quarter. First Personal Financial Services now owns 513 shares of the construction company’s stock valued at $112,000 after buying an additional 22 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Martin Marietta Materials by 130.9% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 538 shares of the construction company’s stock valued at $120,000 after buying an additional 305 shares during the period. Dupont Capital Management Corp acquired a new position in shares of Martin Marietta Materials in the 2nd quarter valued at about $128,000. Northwest Investment Counselors LLC acquired a new position in shares of Martin Marietta Materials in the 2nd quarter valued at about $134,000. Finally, FNY Partners Fund LP acquired a new position in shares of Martin Marietta Materials in the 1st quarter valued at about $174,000. 95.79% of the stock is owned by institutional investors and hedge funds.
Martin Marietta Materials, Inc. (NYSE MLM) opened at 212.00 on Friday. The company has a 50-day moving average price of $210.88 and a 200-day moving average price of $219.51. The firm has a market cap of $13.32 billion, a PE ratio of 30.51 and a beta of 1.15. Martin Marietta Materials, Inc. has a 12-month low of $167.06 and a 12-month high of $244.32.
Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Tuesday, August 1st. The construction company reported $2.25 EPS for the quarter, missing the Zacks’ consensus estimate of $2.38 by $0.13. The firm had revenue of $996.30 million during the quarter, compared to analyst estimates of $1.01 billion. Martin Marietta Materials had a net margin of 11.19% and a return on equity of 10.69%. Martin Marietta Materials’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.90 EPS. On average, equities analysts predict that Martin Marietta Materials, Inc. will post $7.14 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Tuesday, September 5th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.83%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Thursday, August 31st. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 25.29%.
Several equities analysts have recently issued reports on the company. BidaskClub raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Zacks Investment Research raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Monday, September 4th. Finally, Jefferies Group LLC set a $166.00 price objective on Martin Marietta Materials and gave the company a “hold” rating in a report on Monday, August 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $220.57.
In related news, Director John J. Koraleski purchased 500 shares of Martin Marietta Materials stock in a transaction dated Friday, August 18th. The stock was bought at an average cost of $198.37 per share, for a total transaction of $99,185.00. Following the transaction, the director now owns 1,439 shares in the company, valued at $285,454.43. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.45% of the stock is currently owned by company insiders.
About Martin Marietta Materials
Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.
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