Summit Global Investments Has $1.25 Million Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Summit Global Investments reduced its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 35.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,495 shares of the construction company’s stock after selling 1,368 shares during the period. Summit Global Investments’ holdings in Martin Marietta Materials were worth $1,245,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MLM. FMR LLC raised its holdings in shares of Martin Marietta Materials by 225.3% during the 3rd quarter. FMR LLC now owns 1,833,959 shares of the construction company’s stock worth $752,803,000 after buying an additional 1,270,116 shares in the last quarter. JPMorgan Chase & Co. increased its position in Martin Marietta Materials by 9.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,042,537 shares of the construction company’s stock worth $838,421,000 after purchasing an additional 181,136 shares in the last quarter. Invesco Ltd. lifted its stake in Martin Marietta Materials by 22.6% in the 3rd quarter. Invesco Ltd. now owns 570,193 shares of the construction company’s stock valued at $234,053,000 after purchasing an additional 104,981 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in Martin Marietta Materials in the third quarter valued at approximately $34,736,000. Finally, Jennison Associates LLC grew its stake in shares of Martin Marietta Materials by 96.6% during the fourth quarter. Jennison Associates LLC now owns 157,904 shares of the construction company’s stock worth $78,780,000 after buying an additional 77,596 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO C Howard Nye sold 15,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $604.26, for a total value of $9,063,900.00. Following the transaction, the chief executive officer now directly owns 134,640 shares in the company, valued at approximately $81,357,566.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Sue W. Cole sold 1,724 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $543.48, for a total value of $936,959.52. Following the completion of the sale, the director now directly owns 19,793 shares of the company’s stock, valued at approximately $10,757,099.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO C Howard Nye sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $604.26, for a total transaction of $9,063,900.00. Following the transaction, the chief executive officer now directly owns 134,640 shares in the company, valued at $81,357,566.40. The disclosure for this sale can be found here. Insiders sold a total of 26,724 shares of company stock worth $16,033,760 over the last quarter. 0.61% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MLM has been the topic of a number of research reports. Stifel Nicolaus boosted their price objective on Martin Marietta Materials from $621.00 to $650.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Wolfe Research lowered shares of Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a report on Friday, March 8th. Citigroup boosted their target price on shares of Martin Marietta Materials from $635.00 to $708.00 and gave the stock a “buy” rating in a report on Friday, April 5th. StockNews.com upgraded shares of Martin Marietta Materials from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $600.00 price objective (up from $530.00) on shares of Martin Marietta Materials in a report on Friday, March 22nd. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $588.69.

Martin Marietta Materials Trading Up 0.2 %

Shares of Martin Marietta Materials stock traded up $1.07 on Friday, reaching $591.03. 491,967 shares of the company’s stock were exchanged, compared to its average volume of 472,357. The company has a market capitalization of $36.43 billion, a P/E ratio of 17.50, a price-to-earnings-growth ratio of 2.80 and a beta of 0.95. Martin Marietta Materials, Inc. has a 52 week low of $384.61 and a 52 week high of $626.67. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.50 and a current ratio of 3.16. The firm’s 50-day moving average is $598.46 and its two-hundred day moving average is $521.59.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.05. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. The business’s quarterly revenue was down 7.6% on a year-over-year basis. During the same period last year, the company posted $2.16 earnings per share. Sell-side analysts predict that Martin Marietta Materials, Inc. will post 21.7 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 4th were paid a $0.74 dividend. The ex-dividend date was Friday, March 1st. This represents a $2.96 dividend on an annualized basis and a yield of 0.50%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 8.77%.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; 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.