Laffer Investments Has $1.47 Million Stake in Martin Marietta Materials, Inc. (MLM)

Laffer Investments lessened its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 7.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,131 shares of the construction company’s stock after selling 545 shares during the period. Laffer Investments’ holdings in Martin Marietta Materials were worth $1,471,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Martin Marietta Materials by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 6,379,214 shares of the construction company’s stock valued at $1,419,885,000 after buying an additional 149,816 shares during the period. BlackRock Inc. raised its holdings in Martin Marietta Materials by 2.2% in the 2nd quarter. BlackRock Inc. now owns 3,817,803 shares of the construction company’s stock valued at $849,766,000 after buying an additional 81,136 shares during the period. Iridian Asset Management LLC CT raised its holdings in Martin Marietta Materials by 54.6% in the 3rd quarter. Iridian Asset Management LLC CT now owns 1,785,402 shares of the construction company’s stock valued at $368,203,000 after buying an additional 630,357 shares during the period. Principal Financial Group Inc. raised its holdings in Martin Marietta Materials by 20.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,660,752 shares of the construction company’s stock valued at $342,497,000 after buying an additional 282,189 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Martin Marietta Materials by 22.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,578,296 shares of the construction company’s stock valued at $323,552,000 after buying an additional 285,376 shares during the period. Institutional investors and hedge funds own 97.45% of the company’s stock.

Several analysts recently issued reports on MLM shares. Jefferies Group restated a “buy” rating and issued a $240.00 price objective on shares of Martin Marietta Materials in a report on Wednesday, October 11th. Citigroup reiterated a “buy” rating and set a $260.00 price target (down from $270.00) on shares of Martin Marietta Materials in a research note on Monday, October 9th. SunTrust Banks reiterated a “buy” rating and set a $228.00 price target on shares of Martin Marietta Materials in a research note on Friday, October 27th. Barclays assumed coverage on shares of Martin Marietta Materials in a research note on Tuesday. They set an “equal weight” rating and a $227.00 price target on the stock. Finally, Zacks Investment Research upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Tuesday, September 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $240.50.

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) opened at $204.44 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.50 and a current ratio of 2.73. The stock has a market cap of $12,710.20, a PE ratio of 29.48, a price-to-earnings-growth ratio of 2.11 and a beta of 1.12. Martin Marietta Materials, Inc. has a one year low of $191.09 and a one year high of $244.32.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Thursday, November 2nd. The construction company reported $2.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.45 by ($0.06). The business had revenue of $1.02 million for the quarter, compared to analysts’ expectations of $1.07 billion. Martin Marietta Materials had a return on equity of 10.39% and a net margin of 11.03%. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the company earned $2.49 earnings per share. sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 6.92 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st 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 0.86%. The ex-dividend date is Thursday, November 30th. Martin Marietta Materials’s dividend payout ratio is presently 25.66%.

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Martin Marietta Materials Profile

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.

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

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