Martin Marietta Materials, Inc. (MLM) Shares Bought by First Republic Investment Management Inc.

First Republic Investment Management Inc. raised its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 26.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,605 shares of the construction company’s stock after purchasing an additional 543 shares during the period. First Republic Investment Management Inc.’s holdings in Martin Marietta Materials were worth $582,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Piedmont Investment Advisors LLC purchased a new position in shares of Martin Marietta Materials in the 2nd quarter valued at $160,000. IFP Advisors Inc increased its holdings in shares of Martin Marietta Materials by 70.6% in the 1st quarter. IFP Advisors Inc now owns 829 shares of the construction company’s stock valued at $172,000 after acquiring an additional 343 shares during the period. Sawtooth Solutions LLC purchased a new position in shares of Martin Marietta Materials in the 2nd quarter valued at $205,000. Visionary Asset Management Inc. purchased a new position in shares of Martin Marietta Materials in the 2nd quarter valued at $217,000. Finally, Bank Hapoalim BM purchased a new position in shares of Martin Marietta Materials in the 2nd quarter valued at $228,000.

In other Martin Marietta Materials news, Director Stephen P. Zelnak, Jr. bought 3,500 shares of the company’s stock in a transaction that occurred on Monday, July 30th. The shares were purchased at an average cost of $202.87 per share, for a total transaction of $710,045.00. Following the purchase, the director now directly owns 21,880 shares in the company, valued at $4,438,795.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John J. Koraleski bought 2,400 shares of the company’s stock in a transaction that occurred on Friday, July 27th. The shares were acquired at an average price of $208.06 per share, for a total transaction of $499,344.00. Following the completion of the purchase, the director now owns 4,750 shares in the company, valued at $988,285. The disclosure for this purchase can be found here. 0.75% of the stock is owned by insiders.

Shares of MLM stock opened at $192.18 on Monday. Martin Marietta Materials, Inc. has a 1-year low of $188.34 and a 1-year high of $241.33. The company has a current ratio of 2.05, a quick ratio of 1.14 and a debt-to-equity ratio of 0.60. The firm has a market cap of $12.11 billion, a P/E ratio of 26.77, a price-to-earnings-growth ratio of 1.43 and a beta of 1.06.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Thursday, July 26th. The construction company reported $3.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.80 by $0.45. Martin Marietta Materials had a return on equity of 10.52% and a net margin of 17.82%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the previous year, the business earned $2.27 EPS. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. equities research analysts forecast that Martin Marietta Materials, Inc. will post 9.44 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Tuesday, September 4th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.00%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.44. The ex-dividend date is Friday, August 31st. Martin Marietta Materials’s payout ratio is 26.74%.

MLM has been the topic of a number of analyst reports. Zacks Investment Research upgraded Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $258.00 price target on the stock in a report on Thursday, June 14th. Barclays set a $232.00 price target on Martin Marietta Materials and gave the company a “hold” rating in a report on Thursday, May 31st. Bank of America cut their price target on Martin Marietta Materials to $247.00 and set a “buy” rating on the stock in a report on Wednesday, July 25th. ValuEngine upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Tuesday, August 28th. Finally, Stifel Nicolaus lifted their price target on Martin Marietta Materials from $256.00 to $260.00 and gave the company a “buy” rating in a report on Friday, July 27th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $241.22.

About Martin Marietta Materials

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

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