Tributary Capital Management LLC boosted its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 20.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,100 shares of the construction company’s stock after acquiring an additional 1,900 shares during the quarter. Tributary Capital Management LLC’s holdings in Martin Marietta Materials were worth $2,020,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Flagship Harbor Advisors LLC bought a new stake in Martin Marietta Materials during the second quarter worth $128,000. Piedmont Investment Advisors LLC bought a new stake in Martin Marietta Materials during the second quarter worth $160,000. Putnam Investments LLC bought a new stake in Martin Marietta Materials during the second quarter worth $203,000. Sawtooth Solutions LLC bought a new stake in Martin Marietta Materials during the second quarter worth $205,000. Finally, Visionary Asset Management Inc. bought a new stake in Martin Marietta Materials during the second quarter worth $217,000.
Shares of MLM opened at $161.67 on Friday. The stock has a market capitalization of $10.26 billion, a PE ratio of 21.19, a P/E/G ratio of 1.30 and a beta of 1.08. Martin Marietta Materials, Inc. has a fifty-two week low of $160.67 and a fifty-two week high of $241.33. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.14 and a current ratio of 2.05.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Tuesday, September 4th were paid a $0.48 dividend. The ex-dividend date of this dividend was Friday, August 31st. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.44. This represents a $1.92 annualized dividend and a dividend yield of 1.19%. Martin Marietta Materials’s dividend payout ratio is 26.74%.
In other Martin Marietta Materials news, Director John J. Koraleski purchased 2,400 shares of the firm’s stock in a transaction that occurred on Friday, July 27th. The shares were acquired at an average cost of $208.06 per share, for a total transaction of $499,344.00. Following the completion of the purchase, the director now owns 4,750 shares of the company’s stock, valued at approximately $988,285. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Donald A. Mccunniff sold 2,250 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $204.33, for a total transaction of $459,742.50. Following the completion of the transaction, the senior vice president now owns 12,649 shares in the company, valued at $2,584,570.17. The disclosure for this sale can be found here. Corporate insiders own 0.75% of the company’s stock.
Several analysts have issued reports on the stock. Stephens set a $187.00 price target on shares of Martin Marietta Materials and gave the stock a “hold” rating in a research report on Wednesday. Bank of America lowered shares of Martin Marietta Materials from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $225.00 to $179.00 in a research report on Wednesday. DA Davidson set a $200.00 price objective on shares of Martin Marietta Materials and gave the company a “hold” rating in a research report on Thursday, October 11th. Barclays set a $215.00 price objective on shares of Martin Marietta Materials and gave the company a “hold” rating in a research report on Friday, September 28th. Finally, ValuEngine raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Tuesday, August 28th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $221.88.
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 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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