Raymond James Financial Services Advisors Inc. boosted its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 125.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,948 shares of the construction company’s stock after acquiring an additional 3,861 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Martin Marietta Materials were worth $1,536,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of MLM. Highlander Capital Management LLC bought a new stake in Martin Marietta Materials during the 3rd quarter worth about $124,000. Massey Quick Simon & CO. LLC bought a new stake in Martin Marietta Materials during the 3rd quarter worth about $152,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Martin Marietta Materials during the 4th quarter worth about $155,000. First Dallas Securities Inc. bought a new stake in Martin Marietta Materials during the 4th quarter worth about $155,000. Finally, IFM Investors Pty Ltd bought a new stake in Martin Marietta Materials during the 4th quarter worth about $206,000. 99.32% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Sue W. Cole sold 3,000 shares of the business’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $210.06, for a total transaction of $630,180.00. Following the transaction, the director now directly owns 24,145 shares in the company, valued at approximately $5,071,898.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.45% of the stock is owned by insiders.
Several equities research analysts have commented on the stock. Barclays assumed coverage on shares of Martin Marietta Materials in a research report on Tuesday, December 12th. They set an “equal weight” rating and a $227.00 price target on the stock. Alembic Global Advisors reissued a “buy” rating on shares of Martin Marietta Materials in a research report on Wednesday, February 14th. SunTrust Banks reissued a “buy” rating and set a $245.00 price target on shares of Martin Marietta Materials in a research report on Tuesday, February 13th. Zacks Investment Research raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. Finally, Citigroup boosted their price target on shares of Martin Marietta Materials from $245.00 to $265.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $243.25.
Martin Marietta Materials, Inc. (NYSE:MLM) traded down $3.59 during trading on Wednesday, hitting $206.73. 372,030 shares of the stock traded hands, compared to its average volume of 794,883. The firm has a market cap of $12,980.00, a price-to-earnings ratio of 28.83, a PEG ratio of 3.01 and a beta of 1.17. Martin Marietta Materials, Inc. has a one year low of $191.09 and a one year high of $244.32. The company has a quick ratio of 2.93, a current ratio of 3.79 and a debt-to-equity ratio of 0.58.
Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Tuesday, February 13th. The construction company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.46. The company had revenue of $911.30 million for the quarter, compared to analyst estimates of $924.30 million. Martin Marietta Materials had a net margin of 17.99% and a return on equity of 10.55%. Martin Marietta Materials’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.55 EPS. sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 8.62 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Monday, March 5th will be paid a dividend of $0.44 per share. The ex-dividend date is Friday, March 2nd. This represents a $1.76 annualized dividend and a dividend yield of 0.85%. Martin Marietta Materials’s dividend payout ratio is presently 24.55%.
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Martin Marietta Materials Company 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.
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