Findlay Park Partners LLP reduced its stake in shares of Martin Marietta Materials (NYSE:MLM) by 21.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 560,928 shares of the construction company’s stock after selling 156,325 shares during the quarter. Findlay Park Partners LLP owned approximately 0.89% of Martin Marietta Materials worth $116,280,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Synovus Financial Corp acquired a new stake in shares of Martin Marietta Materials during the first quarter worth approximately $102,000. Valeo Financial Advisors LLC raised its position in Martin Marietta Materials by 149.0% during the fourth quarter. Valeo Financial Advisors LLC now owns 523 shares of the construction company’s stock valued at $116,000 after acquiring an additional 313 shares in the last quarter. Motco bought a new position in Martin Marietta Materials during the first quarter valued at approximately $135,000. Captrust Financial Advisors bought a new position in Martin Marietta Materials during the fourth quarter valued at approximately $151,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in Martin Marietta Materials during the fourth quarter valued at approximately $155,000. Institutional investors and hedge funds own 99.00% of the company’s stock.
In other news, EVP Roselyn R. Bar sold 5,998 shares of Martin Marietta Materials stock in a transaction that occurred on Friday, May 11th. The shares were sold at an average price of $213.67, for a total value of $1,281,592.66. Following the transaction, the executive vice president now owns 53,854 shares of the company’s stock, valued at $11,506,984.18. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Michael J. Quillen sold 3,000 shares of Martin Marietta Materials stock in a transaction that occurred on Wednesday, May 9th. The shares were sold at an average price of $212.50, for a total transaction of $637,500.00. Following the completion of the transaction, the director now directly owns 20,283 shares in the company, valued at approximately $4,310,137.50. The disclosure for this sale can be found here. In the last three months, insiders sold 20,407 shares of company stock worth $4,337,531. Insiders own 0.75% of the company’s stock.
MLM has been the topic of several recent research reports. Bank of America raised shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $229.00 price objective on the stock in a research report on Wednesday, May 2nd. SunTrust Banks cut their price objective on shares of Martin Marietta Materials to $226.00 and set a “buy” rating on the stock in a research report on Thursday, May 3rd. They noted that the move was a valuation call. Alembic Global Advisors reaffirmed a “buy” rating on shares of Martin Marietta Materials in a research report on Wednesday, February 14th. Citigroup raised their price objective on shares of Martin Marietta Materials from $245.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Finally, ValuEngine raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Tuesday, May 8th. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Martin Marietta Materials has a consensus rating of “Hold” and a consensus target price of $234.57.
Shares of Martin Marietta Materials opened at $219.31 on Monday, according to MarketBeat.com. The company has a market cap of $13.81 billion, a P/E ratio of 30.54, a price-to-earnings-growth ratio of 1.70 and a beta of 1.15. The company has a debt-to-equity ratio of 0.58, a quick ratio of 3.06 and a current ratio of 4.00. Martin Marietta Materials has a twelve month low of $189.26 and a twelve month high of $241.33.
Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Tuesday, May 8th. The construction company reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.09). Martin Marietta Materials had a net margin of 17.36% and a return on equity of 9.47%. The firm had revenue of $802.00 million during the quarter, compared to the consensus estimate of $822.23 million. During the same period in the prior year, the business earned $0.67 EPS. The company’s revenue for the quarter was down 5.0% compared to the same quarter last year. analysts predict that Martin Marietta Materials will post 8.97 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 1st will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date is Thursday, May 31st. Martin Marietta Materials’s dividend payout ratio is 24.51%.
About Martin Marietta Materials
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. The company provides crushed stone, sand, and gravel products; ready mixed concrete, and asphalt and paving products; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.
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