Arden Trust Co Lowers Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Arden Trust Co cut its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 3.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,780 shares of the construction company’s stock after selling 55 shares during the period. Arden Trust Co’s holdings in Martin Marietta Materials were worth $419,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the business. Goldman Sachs Group Inc. increased its stake in shares of Martin Marietta Materials by 42.2% during the second quarter. Goldman Sachs Group Inc. now owns 1,368,456 shares of the construction company’s stock valued at $282,682,000 after buying an additional 405,800 shares during the period. William Blair Investment Management LLC raised its holdings in shares of Martin Marietta Materials by 4.7% in the 2nd quarter. William Blair Investment Management LLC now owns 1,193,809 shares of the construction company’s stock valued at $246,605,000 after purchasing an additional 54,050 shares in the last quarter. King Luther Capital Management Corp raised its holdings in shares of Martin Marietta Materials by 6.8% in the 2nd quarter. King Luther Capital Management Corp now owns 677,468 shares of the construction company’s stock valued at $139,945,000 after purchasing an additional 43,159 shares in the last quarter. M&G Investment Management Ltd. lifted its position in shares of Martin Marietta Materials by 18.9% in the 2nd quarter. M&G Investment Management Ltd. now owns 644,726 shares of the construction company’s stock worth $133,458,000 after purchasing an additional 102,299 shares during the period. Finally, London Co. of Virginia boosted its stake in shares of Martin Marietta Materials by 7.1% during the second quarter. London Co. of Virginia now owns 499,021 shares of the construction company’s stock valued at $103,082,000 after purchasing an additional 33,150 shares in the last quarter. Institutional investors and hedge funds own 95.32% of the company’s stock.

Shares of Martin Marietta Materials stock opened at $258.97 on Friday. The stock has a market cap of $16.13 billion, a PE ratio of 26.03, a price-to-earnings-growth ratio of 10.05 and a beta of 0.80. The firm has a fifty day moving average price of $229.12 and a 200 day moving average price of $208.05. Martin Marietta Materials, Inc. has a 1 year low of $135.08 and a 1 year high of $281.82. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.67 and a quick ratio of 1.47.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Tuesday, July 28th. The construction company reported $3.49 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.04 by $0.45. Martin Marietta Materials had a return on equity of 11.62% and a net margin of 13.12%. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter last year, the business posted $3.01 EPS. The company’s revenue was down .7% on a year-over-year basis. As a group, equities analysts expect that Martin Marietta Materials, Inc. will post 9.61 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st were issued a $0.57 dividend. The ex-dividend date of this dividend was Monday, August 31st. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.55. This represents a $2.28 dividend on an annualized basis and a yield of 0.88%. Martin Marietta Materials’s payout ratio is presently 23.41%.

A number of research firms have weighed in on MLM. TheStreet upgraded Martin Marietta Materials from a “c+” rating to a “b-” rating in a report on Friday, September 4th. Deutsche Bank Aktiengesellschaft upgraded Martin Marietta Materials from a “hold” rating to a “buy” rating and upped their price objective for the stock from $230.00 to $311.00 in a research note on Wednesday, October 7th. Citigroup increased their price target on shares of Martin Marietta Materials from $230.00 to $263.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Loop Capital lifted their price objective on shares of Martin Marietta Materials from $114.00 to $129.00 in a research report on Monday, June 22nd. Finally, Bank of America cut shares of Martin Marietta Materials from a “buy” rating to a “neutral” rating and increased their target price for the company from $246.00 to $280.00 in a research report on Tuesday, October 13th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Martin Marietta Materials has an average rating of “Buy” and a consensus price target of $239.79.

In other news, Director Sue W. Cole sold 750 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $209.18, for a total transaction of $156,885.00. Following the sale, the director now directly owns 22,364 shares of the company’s stock, valued at approximately $4,678,101.52. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Sue W. Cole sold 468 shares of the firm’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $207.03, for a total value of $96,890.04. Following the sale, the director now owns 22,364 shares in the company, valued at $4,630,018.92. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.

Martin Marietta Materials 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. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; Portland and specialty cement used in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.

Further Reading: Forex

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

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