Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by First Personal Financial Services

First Personal Financial Services reduced its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 18.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 224 shares of the construction company’s stock after selling 50 shares during the quarter. First Personal Financial Services’ holdings in Martin Marietta Materials were worth $61,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Destination Wealth Management boosted its position 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 acquiring an additional 99 shares in the last quarter. Rational Advisors LLC boosted its position 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 acquiring an additional 108 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new position in shares of Martin Marietta Materials during the 2nd quarter worth about $31,000. Capital Investment Advisory Services LLC boosted its position 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 acquiring an additional 92 shares in the last quarter. Finally, Commonwealth Bank of Australia boosted its position 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 acquiring an additional 43 shares in the last quarter.

Martin Marietta Materials stock opened at $265.99 on Wednesday. Martin Marietta Materials, Inc. has a fifty-two week low of $150.75 and a fifty-two week high of $275.99. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.08 and a current ratio of 1.86. The company has a market capitalization of $16.57 billion, a P/E ratio of 32.88, a PEG ratio of 2.48 and a beta of 1.11. The stock has a 50-day simple moving average of $262.75 and a 200-day simple moving average of $233.82.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Tuesday, July 30th. The construction company reported $3.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.08 by ($0.07). Martin Marietta Materials had a net margin of 11.37% and a return on equity of 10.35%. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the previous year, the firm posted $3.25 earnings per share. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, analysts forecast that Martin Marietta Materials, Inc. will post 9.38 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.55 per share. The ex-dividend date was Friday, August 30th. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.48. This represents a $2.20 annualized dividend and a yield of 0.83%. Martin Marietta Materials’s dividend payout ratio is currently 27.19%.

Several research analysts have recently issued reports on the company. Longbow Research set a $265.00 price objective on Martin Marietta Materials and gave the stock a “buy” rating in a research report on Friday, August 30th. BNP Paribas initiated coverage on Martin Marietta Materials in a research report on Wednesday, October 9th. They set an “underperform” rating for the company. JPMorgan Chase & Co. boosted their target price on Martin Marietta Materials from $265.00 to $285.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. Barclays reissued a “hold” rating and issued a $284.00 target price on shares of Martin Marietta Materials in a report on Wednesday. Finally, Bank of America raised Martin Marietta Materials from an “underperform” rating to a “neutral” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $235.59.

In other Martin Marietta Materials news, Chairman C Howard Nye sold 11,224 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chairman now directly owns 158,885 shares of the company’s stock, valued at approximately $38,713,919.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Roselyn R. Bar sold 2,821 shares of the company’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 value of $696,589.53. Following the sale, the executive vice president now directly owns 57,149 shares of the company’s stock, valued at $14,111,802.57. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,485 shares of company stock valued at $5,317,618. 0.73% of the stock is 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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