Martin Marietta Materials, Inc. (MLM) Stake Increased by Ameriprise Financial Inc.

Ameriprise Financial Inc. boosted its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 8.2% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 229,587 shares of the construction company’s stock after buying an additional 17,458 shares during the period. Ameriprise Financial Inc. owned 0.36% of Martin Marietta Materials worth $50,109,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Martin Marietta Materials by 26.7% in the fourth quarter. FMR LLC now owns 3,025,391 shares of the construction company’s stock valued at $670,215,000 after buying an additional 637,966 shares during the period. State Street Corp boosted its stake in Martin Marietta Materials by 5.6% in the fourth quarter. State Street Corp now owns 2,700,675 shares of the construction company’s stock valued at $598,278,000 after buying an additional 144,349 shares during the period. First Eagle Investment Management LLC boosted its stake in Martin Marietta Materials by 3.8% in the third quarter. First Eagle Investment Management LLC now owns 1,446,940 shares of the construction company’s stock valued at $259,162,000 after buying an additional 53,431 shares during the period. Franklin Resources Inc. boosted its stake in Martin Marietta Materials by 1.7% in the fourth quarter. Franklin Resources Inc. now owns 1,012,231 shares of the construction company’s stock valued at $224,262,000 after buying an additional 16,557 shares during the period. Finally, TimesSquare Capital Management LLC boosted its stake in Martin Marietta Materials by 21.6% in the third quarter. TimesSquare Capital Management LLC now owns 618,315 shares of the construction company’s stock valued at $110,746,000 after buying an additional 109,890 shares during the period. Institutional investors own 97.26% of the company’s stock.

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

Shares of Martin Marietta Materials, Inc. (NYSE:MLM) traded down 0.39% during trading on Friday, hitting $228.39. 472,633 shares of the stock were exchanged. The stock has a market cap of $14.34 billion, a P/E ratio of 34.47 and a beta of 1.41. The stock has a 50-day moving average of $223.56 and a 200 day moving average of $221.01. Martin Marietta Materials, Inc. has a 12-month low of $167.06 and a 12-month high of $244.32.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Tuesday, May 2nd. The construction company reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.05. Martin Marietta Materials had a net margin of 11.03% and a return on equity of 9.95%. The company had revenue of $791.70 million during the quarter, compared to the consensus estimate of $729.28 million. During the same period in the prior year, the company earned $0.69 EPS. Martin Marietta Materials’s revenue was up 7.9% on a year-over-year basis. Equities analysts predict that Martin Marietta Materials, Inc. will post $7.14 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 1st will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend is Tuesday, May 30th. Martin Marietta Materials’s payout ratio is 26.50%.

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Several analysts have recently commented on MLM shares. Citigroup Inc started coverage on shares of Martin Marietta Materials in a research note on Wednesday, March 29th. They issued a “buy” rating and a $245.00 target price for the company. Stifel Nicolaus raised their target price on shares of Martin Marietta Materials from $258.00 to $265.00 and gave the stock a “buy” rating in a research note on Wednesday, May 3rd. Cleveland Research upgraded shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating in a research note on Friday, March 31st. Zacks Investment Research upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Tuesday, April 18th. Finally, Stephens raised their target price on shares of Martin Marietta Materials from $246.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 4th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $228.13.

In other Martin Marietta Materials news, SVP Donald A. Mccunniff sold 1,391 shares of the company’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $240.17, for a total value of $334,076.47. Following the completion of the sale, the senior vice president now directly owns 19,858 shares of the company’s stock, valued at approximately $4,769,295.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Anne H. Lloyd sold 6,472 shares of the company’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $238.73, for a total transaction of $1,545,060.56. Following the completion of the sale, the chief financial officer now directly owns 69,941 shares of the company’s stock, valued at $16,697,014.93. The disclosure for this sale can be found here. Insiders sold a total of 21,121 shares of company stock valued at $4,968,800 over the last three months. 1.06% of the stock is owned by corporate insiders.

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.

5 Day Chart for NYSE:MLM

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