Martin Marietta Materials, Inc. (MLM) Shares Bought by BB&T Corp

BB&T Corp raised its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 9.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,964 shares of the construction company’s stock after purchasing an additional 1,231 shares during the quarter. BB&T Corp’s holdings in Martin Marietta Materials were worth $2,879,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. APG Asset Management N.V. raised its position in Martin Marietta Materials by 2.6% in the 3rd quarter. APG Asset Management N.V. now owns 87,141 shares of the construction company’s stock valued at $17,971,000 after purchasing an additional 2,200 shares during the last quarter. Oakbrook Investments LLC bought a new stake in shares of Martin Marietta Materials during the third quarter worth $588,000. Skylands Capital LLC raised its position in shares of Martin Marietta Materials by 8.8% during the third quarter. Skylands Capital LLC now owns 14,875 shares of the construction company’s stock worth $3,068,000 after acquiring an additional 1,200 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Martin Marietta Materials by 167.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,439 shares of the construction company’s stock worth $297,000 after acquiring an additional 901 shares during the last quarter. Finally, Sumitomo Life Insurance Co. raised its position in shares of Martin Marietta Materials by 62.6% during the third quarter. Sumitomo Life Insurance Co. now owns 7,869 shares of the construction company’s stock worth $1,623,000 after acquiring an additional 3,030 shares during the last quarter. Hedge funds and other institutional investors own 96.23% of the company’s stock.

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In other news, Director John J. Koraleski purchased 500 shares of the company’s stock in a transaction dated Friday, August 18th. The stock was bought at an average cost of $198.37 per share, for a total transaction of $99,185.00. Following the purchase, the director now owns 1,439 shares of the company’s stock, valued at $285,454.43. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 8.45% of the stock is currently owned by corporate insiders.

A number of equities research analysts have recently weighed in on the company. Citigroup Inc. restated a “buy” rating and set a $260.00 target price (down previously from $270.00) on shares of Martin Marietta Materials in a research report on Monday, October 9th. SunTrust Banks, Inc. restated a “buy” rating and set a $228.00 target price on shares of Martin Marietta Materials in a research report on Friday. Jefferies Group LLC set a $166.00 target price on Martin Marietta Materials and gave the stock a “hold” rating in a research report on Monday, August 21st. Bank of America Corporation dropped their target price on Martin Marietta Materials from $233.00 to $229.00 and set a “neutral” rating for the company in a research report on Thursday, October 19th. Finally, BidaskClub downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. Martin Marietta Materials currently has a consensus rating of “Buy” and an average target price of $245.33.

Shares of Martin Marietta Materials, Inc. (NYSE MLM) opened at 217.12 on Friday. The company has a market cap of $13.64 billion, a P/E ratio of 31.24 and a beta of 1.13. The stock’s 50 day moving average price is $205.69 and its 200-day moving average price is $217.41. Martin Marietta Materials, Inc. has a 52-week low of $181.52 and a 52-week high of $244.32.

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

The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Tuesday, September 5th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.81%. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Thursday, August 31st. Martin Marietta Materials’s dividend payout ratio is presently 25.29%.

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.

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

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