Peregrine Asset Advisers Inc. Purchases New Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Peregrine Asset Advisers Inc. purchased a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 12,945 shares of the construction company’s stock, valued at approximately $2,979,000. Martin Marietta Materials accounts for approximately 1.5% of Peregrine Asset Advisers Inc.’s portfolio, making the stock its 19th largest position.

A number of other hedge funds and other institutional investors have also modified their holdings of MLM. Valeo Financial Advisors LLC raised its holdings in Martin Marietta Materials by 4.9% in the second quarter. Valeo Financial Advisors LLC now owns 1,070 shares of the construction company’s stock worth $246,000 after buying an additional 50 shares during the last quarter. Hartford Investment Management Co. raised its holdings in Martin Marietta Materials by 0.8% in the second quarter. Hartford Investment Management Co. now owns 6,851 shares of the construction company’s stock worth $1,576,000 after buying an additional 53 shares during the last quarter. Dupont Capital Management Corp raised its holdings in Martin Marietta Materials by 1.8% in the second quarter. Dupont Capital Management Corp now owns 3,252 shares of the construction company’s stock worth $748,000 after buying an additional 56 shares during the last quarter. CWM LLC raised its holdings in Martin Marietta Materials by 22.5% in the second quarter. CWM LLC now owns 310 shares of the construction company’s stock worth $71,000 after buying an additional 57 shares during the last quarter. Finally, Lantz Financial LLC raised its holdings in Martin Marietta Materials by 1.0% in the second quarter. Lantz Financial LLC now owns 6,386 shares of the construction company’s stock worth $1,448,000 after buying an additional 65 shares during the last quarter.

Shares of MLM stock traded down $2.78 during trading hours on Friday, reaching $252.33. The company had a trading volume of 505,584 shares, compared to its average volume of 666,750. The business has a fifty day moving average price of $238.03 and a 200-day moving average price of $215.35. Martin Marietta Materials, Inc. has a one year low of $150.75 and a one year high of $258.37. The firm has a market cap of $15.81 billion, a PE ratio of 31.19, a price-to-earnings-growth ratio of 2.37 and a beta of 1.13. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.08 and a current ratio of 1.86.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Tuesday, July 30th. The construction company reported $3.01 EPS for the quarter, missing analysts’ consensus estimates of $3.08 by ($0.07). Martin Marietta Materials had a return on equity of 10.35% and a net margin of 11.37%. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the prior year, the firm earned $3.25 earnings per share. The business’s revenue was up 6.4% compared to the same quarter last year. Equities research analysts forecast that Martin Marietta Materials, Inc. will post 9.34 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.87%. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, August 30th. Martin Marietta Materials’s payout ratio is 23.73%.

Several research analysts have issued reports on MLM shares. Jefferies Financial Group lifted their target price on shares of Martin Marietta Materials from $265.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Zacks Investment Research raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $250.00 target price for the company in a report on Monday, May 6th. Citigroup lifted their target price on shares of Martin Marietta Materials from $239.00 to $255.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. ValuEngine raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Finally, DA Davidson upgraded shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $227.22 price target for the company in a research note on Thursday, June 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $226.37.

In related news, Director Laree E. Perez sold 824 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $231.80, for a total transaction of $191,003.20. Following the completion of the sale, the director now directly owns 14,136 shares in the company, valued at $3,276,724.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Roselyn R. Bar sold 2,821 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $246.93, for a total transaction of $696,589.53. Following the sale, the executive vice president now owns 57,149 shares of the company’s stock, valued at $14,111,802.57. The disclosure for this sale can be found here. Insiders have sold 14,869 shares of company stock valued at $3,622,433 over the last 90 days. 0.73% of the stock is currently owned by company insiders.

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 offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; 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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