Martin Marietta Materials, Inc. (NYSE:MLM) is Lathrop Investment Management Corp’s 7th Largest Position

Lathrop Investment Management Corp lifted its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 1.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,060 shares of the construction company’s stock after buying an additional 562 shares during the period. Martin Marietta Materials comprises 4.2% of Lathrop Investment Management Corp’s investment portfolio, making the stock its 7th biggest holding. Lathrop Investment Management Corp owned approximately 0.09% of Martin Marietta Materials worth $15,366,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of MLM. Destination Wealth Management raised its stake in shares of Martin Marietta Materials by 825.0% during the 2nd quarter. Destination Wealth Management now owns 111 shares of the construction company’s stock worth $26,000 after buying an additional 99 shares in the last quarter. Rational Advisors LLC raised its stake in shares of Martin Marietta Materials by 2,160.0% during the 2nd quarter. Rational Advisors LLC now owns 113 shares of the construction company’s stock worth $26,000 after buying an additional 108 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new position in shares of Martin Marietta Materials during the 2nd quarter worth approximately $31,000. Capital Investment Advisory Services LLC raised its stake in shares of Martin Marietta Materials by 153.3% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 152 shares of the construction company’s stock worth $34,000 after buying an additional 92 shares in the last quarter. Finally, Commonwealth Bank of Australia raised its stake in shares of Martin Marietta Materials by 28.1% during the 2nd quarter. Commonwealth Bank of Australia now owns 196 shares of the construction company’s stock worth $43,000 after buying an additional 43 shares in the last quarter.

In other news, Chairman C Howard Nye sold 11,224 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $243.66, for a total transaction of $2,734,839.84. Following the sale, the chairman now owns 158,885 shares in the company, valued at $38,713,919.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Roselyn R. Bar sold 2,821 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $246.93, for a total value of $696,589.53. Following the sale, the executive vice president now owns 57,149 shares in the company, valued at approximately $14,111,802.57. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,485 shares of company stock worth $5,317,618. 0.73% of the stock is owned by insiders.

NYSE:MLM traded up $2.46 during trading hours on Tuesday, reaching $271.07. 4,038 shares of the company traded hands, compared to its average volume of 491,771. The firm’s 50-day moving average is $264.45 and its 200-day moving average is $235.77. The stock has a market cap of $16.60 billion, a P/E ratio of 33.51, a P/E/G ratio of 2.65 and a beta of 1.11. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.86 and a quick ratio of 1.08. Martin Marietta Materials, Inc. has a 1-year low of $150.75 and a 1-year high of $275.99.

Martin Marietta Materials (NYSE:MLM) last announced its 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). The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. Martin Marietta Materials had a net margin of 11.37% and a return on equity of 10.35%. Martin Marietta Materials’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the company posted $3.25 EPS. As a group, research analysts predict that Martin Marietta Materials, Inc. will post 9.42 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date was Friday, August 30th. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.48. Martin Marietta Materials’s dividend payout ratio is 27.19%.

MLM has been the subject of a number of analyst reports. Longbow Research set a $265.00 target price on Martin Marietta Materials and gave the stock a “buy” rating in a research note on Friday, August 30th. ValuEngine downgraded Martin Marietta Materials from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group raised their price objective on Martin Marietta Materials from $265.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. SunTrust Banks raised their price objective on Martin Marietta Materials from $235.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Exane BNP Paribas assumed coverage on Martin Marietta Materials in a research note on Wednesday, October 9th. They issued an “underperform” rating for the company. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Martin Marietta Materials currently has an average rating of “Buy” and a consensus price target of $246.09.

Martin Marietta Materials Company 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 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.

Further Reading: Treasury Bonds

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

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