Janus Henderson Group PLC reduced its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 27.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 163,801 shares of the construction company’s stock after selling 61,364 shares during the quarter. Janus Henderson Group PLC owned approximately 0.26% of Martin Marietta Materials worth $33,781,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Iridian Asset Management LLC CT lifted its position in Martin Marietta Materials by 54.6% in the 3rd quarter. Iridian Asset Management LLC CT now owns 1,785,402 shares of the construction company’s stock valued at $368,203,000 after purchasing an additional 630,357 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Martin Marietta Materials by 22.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,578,296 shares of the construction company’s stock valued at $323,552,000 after purchasing an additional 285,376 shares during the last quarter. Principal Financial Group Inc. lifted its position in Martin Marietta Materials by 20.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,660,752 shares of the construction company’s stock valued at $342,497,000 after purchasing an additional 282,189 shares during the last quarter. CI Investments Inc. bought a new stake in Martin Marietta Materials in the 3rd quarter valued at about $54,546,000. Finally, Lodge Hill Capital LLC lifted its position in Martin Marietta Materials by 125.5% in the 2nd quarter. Lodge Hill Capital LLC now owns 326,100 shares of the construction company’s stock valued at $72,583,000 after purchasing an additional 181,500 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.
MLM has been the topic of several recent research reports. Jefferies Group reiterated a “buy” rating and issued a $240.00 price objective on shares of Martin Marietta Materials in a research report on Wednesday, October 11th. Citigroup reiterated a “buy” rating and issued a $260.00 price objective (down from $270.00) on shares of Martin Marietta Materials in a research report on Monday, October 9th. SunTrust Banks reiterated a “buy” rating and issued a $228.00 price objective on shares of Martin Marietta Materials in a research report on Friday, October 27th. Barclays started coverage on shares of Martin Marietta Materials in a research note on Tuesday, December 12th. They set an “equal weight” rating and a $227.00 target price on the stock. Finally, Zacks Investment Research raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Tuesday, September 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $240.50.
Martin Marietta Materials (NYSE:MLM) last released its earnings results on Thursday, November 2nd. The construction company reported $2.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.45 by ($0.06). The company had revenue of $1.02 million for the quarter, compared to analyst estimates of $1.07 billion. Martin Marietta Materials had a net margin of 11.03% and a return on equity of 10.39%. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.49 EPS. equities research analysts forecast that Martin Marietta Materials, Inc. will post 6.92 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be paid a $0.44 dividend. The ex-dividend date is Thursday, November 30th. This represents a $1.76 annualized dividend and a dividend yield of 0.86%. Martin Marietta Materials’s dividend payout ratio is currently 25.66%.
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Martin Marietta Materials 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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