Oppenheimer & Co. Inc. boosted its holdings in Martin Marietta Materials (NYSE:MLM) by 16.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,431 shares of the construction company’s stock after acquiring an additional 4,482 shares during the quarter. Oppenheimer & Co. Inc. owned 0.05% of Martin Marietta Materials worth $6,515,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Valeo Financial Advisors LLC lifted its position in shares of Martin Marietta Materials by 149.0% during the fourth quarter. Valeo Financial Advisors LLC now owns 523 shares of the construction company’s stock worth $116,000 after purchasing an additional 313 shares in the last quarter. Captrust Financial Advisors acquired a new position in Martin Marietta Materials in the fourth quarter valued at approximately $151,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Martin Marietta Materials in the fourth quarter worth $155,000. First Dallas Securities Inc. acquired a new stake in Martin Marietta Materials in the fourth quarter worth $155,000. Finally, SRS Capital Advisors Inc. raised its holdings in Martin Marietta Materials by 107.3% in the fourth quarter. SRS Capital Advisors Inc. now owns 742 shares of the construction company’s stock worth $164,000 after purchasing an additional 384 shares during the period. 99.55% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Roselyn R. Bar sold 5,998 shares of the business’s stock in a transaction on Friday, May 11th. The shares were sold at an average price of $213.67, for a total transaction of $1,281,592.66. Following the transaction, the executive vice president now owns 53,854 shares in the company, valued at approximately $11,506,984.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sue W. Cole sold 3,000 shares of the business’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $210.06, for a total transaction of $630,180.00. Following the sale, the director now owns 24,145 shares of the company’s stock, valued at approximately $5,071,898.70. The disclosure for this sale can be found here. Insiders have sold a total of 20,407 shares of company stock worth $4,337,531 in the last quarter. 0.75% of the stock is owned by corporate insiders.
Shares of Martin Marietta Materials opened at $213.51 on Friday, Marketbeat Ratings reports. Martin Marietta Materials has a 1 year low of $217.55 and a 1 year high of $220.51. The company has a debt-to-equity ratio of 0.58, a quick ratio of 3.06 and a current ratio of 4.00. The company has a market cap of $13.74 billion, a P/E ratio of 32.67, a P/E/G ratio of 1.69 and a beta of 1.15.
Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Tuesday, May 8th. The construction company reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.09). The business had revenue of $802.00 million for the quarter, compared to the consensus estimate of $822.23 million. Martin Marietta Materials had a return on equity of 9.47% and a net margin of 17.36%. The company’s revenue was down 5.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.67 earnings per share. equities research analysts forecast that Martin Marietta Materials will post 8.97 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 1st will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.82%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 24.51%.
Several brokerages have recently issued reports on MLM. Citigroup increased their price objective 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. 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. Alembic Global Advisors reiterated a “buy” rating on shares of Martin Marietta Materials in a research note on Wednesday, February 14th. ValuEngine upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Tuesday, May 8th. Finally, SunTrust Banks reiterated a “buy” rating and issued a $245.00 price target on shares of Martin Marietta Materials in a research note on Tuesday, February 13th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. Martin Marietta Materials presently has an average rating of “Hold” and an average target price of $234.57.
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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