BlackRock Inc. boosted its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 0.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 3,861,669 shares of the construction company’s stock after acquiring an additional 8,010 shares during the period. BlackRock Inc. owned 0.06% of Martin Marietta Materials worth $853,584,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of MLM. Highlander Capital Management LLC purchased a new stake in Martin Marietta Materials during the 3rd quarter worth about $124,000. Massey Quick Simon & CO. LLC purchased a new stake in Martin Marietta Materials during the 3rd quarter worth about $152,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Martin Marietta Materials during the 4th quarter worth about $155,000. First Dallas Securities Inc. purchased a new stake in Martin Marietta Materials during the 4th quarter worth about $155,000. Finally, IFM Investors Pty Ltd purchased a new stake in Martin Marietta Materials during the 4th quarter worth about $206,000. Institutional investors own 96.45% of the company’s stock.
MLM has been the topic of several recent research reports. SunTrust Banks restated a “buy” rating and set a $228.00 price target on shares of Martin Marietta Materials in a report on Friday, October 27th. Alembic Global Advisors restated a “buy” rating on shares of Martin Marietta Materials in a report on Wednesday, February 14th. Citigroup upped their price target on Martin Marietta Materials from $245.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Barclays initiated coverage on Martin Marietta Materials in a report on Tuesday, December 12th. They set an “equal weight” rating and a $227.00 price target on the stock. Finally, Zacks Investment Research upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $243.25.
Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Tuesday, February 13th. The construction company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.46. Martin Marietta Materials had a return on equity of 10.85% and a net margin of 17.99%. The business had revenue of $911.30 million for the quarter, compared to the consensus estimate of $924.30 million. During the same quarter in the prior year, the business posted $1.55 EPS. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. sell-side analysts forecast that Martin Marietta Materials, Inc. will post 8.53 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Monday, March 5th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.83%. Martin Marietta Materials’s payout ratio is currently 15.63%.
In other news, Director Laree E. Perez sold 3,000 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $214.00, for a total value of $642,000.00. Following the transaction, the director now owns 16,751 shares in the company, valued at approximately $3,584,714. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 8.45% of the company’s stock.
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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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