Martin Marietta Materials, Inc. (MLM) Stake Decreased by Wafra Investment Advisory Group Inc. NY

Wafra Investment Advisory Group Inc. NY cut its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 2.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 61,158 shares of the construction company’s stock after selling 1,788 shares during the period. Wafra Investment Advisory Group Inc. NY owned about 0.10% of Martin Marietta Materials worth $13,613,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in MLM. Sun Life Financial INC grew its stake in shares of Martin Marietta Materials by 6,442.9% during the second quarter. Sun Life Financial INC now owns 458 shares of the construction company’s stock valued at $102,000 after acquiring an additional 451 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Martin Marietta Materials by 130.9% during the second quarter. Robeco Institutional Asset Management B.V. now owns 538 shares of the construction company’s stock valued at $120,000 after acquiring an additional 305 shares in the last quarter. Dupont Capital Management Corp acquired a new stake in shares of Martin Marietta Materials during the second quarter valued at about $128,000. Northwest Investment Counselors LLC acquired a new stake in shares of Martin Marietta Materials during the second quarter valued at about $134,000. Finally, FNY Partners Fund LP acquired a new stake in shares of Martin Marietta Materials during the first quarter valued at about $174,000. Institutional investors own 95.78% of the company’s stock.

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Martin Marietta Materials, Inc. (NYSE MLM) traded down 1.01% during trading on Tuesday, reaching $203.86. The company had a trading volume of 168,322 shares. The firm has a 50-day moving average price of $203.89 and a 200 day moving average price of $217.95. The stock has a market cap of $12.81 billion, a P/E ratio of 29.34 and a beta of 1.13. Martin Marietta Materials, Inc. has a 12-month low of $167.06 and a 12-month high of $244.32.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Tuesday, August 1st. The construction company reported $2.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.38 by ($0.13). The business had revenue of $996.30 million during the quarter, compared to the consensus estimate of $1.01 billion. Martin Marietta Materials had a net margin of 11.19% and a return on equity of 10.69%. The business’s revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.90 EPS. Equities research analysts predict that Martin Marietta Materials, Inc. will post $7.14 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Tuesday, September 5th were paid a $0.44 dividend. The ex-dividend date was Thursday, August 31st. This represents a $1.76 dividend on an annualized basis and a yield of 0.85%. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.42. Martin Marietta Materials’s payout ratio is presently 25.29%.

Several analysts have recently weighed in on MLM shares. Jefferies Group LLC set a $166.00 target price on Martin Marietta Materials and gave the company a “hold” rating in a research note on Monday, August 21st. Zacks Investment Research downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Citigroup Inc. restated a “buy” rating and set a $260.00 target price (down from $270.00) on shares of Martin Marietta Materials in a research note on Monday. Finally, BidaskClub downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. Martin Marietta Materials has a consensus rating of “Hold” and a consensus target price of $224.83.

In other Martin Marietta Materials news, Director John J. Koraleski bought 500 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were acquired at an average price of $198.37 per share, with a total value of $99,185.00. Following the completion of the purchase, the director now directly owns 1,439 shares in the company, valued at approximately $285,454.43. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.45% of the company’s stock.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.

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

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