Sumitomo Mitsui Trust Holdings Inc. lowered its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 14.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 180,732 shares of the construction company’s stock after selling 30,957 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.29% of Martin Marietta Materials worth $40,227,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MLM. BlackRock Inc. raised its stake in Martin Marietta Materials by 3,137.5% in the first quarter. BlackRock Inc. now owns 3,736,667 shares of the construction company’s stock valued at $815,527,000 after buying an additional 3,621,250 shares in the last quarter. Egerton Capital UK LLP raised its stake in Martin Marietta Materials by 329.1% in the second quarter. Egerton Capital UK LLP now owns 1,967,865 shares of the construction company’s stock valued at $438,007,000 after buying an additional 1,509,258 shares in the last quarter. Iridian Asset Management LLC CT raised its stake in Martin Marietta Materials by 83.4% in the first quarter. Iridian Asset Management LLC CT now owns 1,060,115 shares of the construction company’s stock valued at $231,370,000 after buying an additional 482,165 shares in the last quarter. Harbour Capital Advisors LLC raised its stake in Martin Marietta Materials by 22,705.9% in the second quarter. Harbour Capital Advisors LLC now owns 370,596 shares of the construction company’s stock valued at $1,665,000 after buying an additional 368,971 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in Martin Marietta Materials by 21.8% in the first quarter. Principal Financial Group Inc. now owns 1,333,161 shares of the construction company’s stock valued at $290,962,000 after buying an additional 238,711 shares in the last quarter. Institutional investors and hedge funds own 98.25% of the company’s stock.

Martin Marietta Materials, Inc. (MLM) opened at 195.54 on Friday. Martin Marietta Materials, Inc. has a 52 week low of $167.06 and a 52 week high of $244.32. The company has a market cap of $12.29 billion, a P/E ratio of 28.14 and a beta of 1.14. The company has a 50-day moving average of $215.04 and a 200 day moving average of $220.57.

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 analysts’ consensus estimates 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 business had revenue of $996.30 million during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period last year, the business posted $1.90 earnings per share. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, equities analysts forecast that Martin Marietta Materials, Inc. will post $7.14 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Tuesday, September 5th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 0.90%. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Thursday, August 31st. Martin Marietta Materials’s payout ratio is presently 24.14%.

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MLM has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Monday, May 1st. BidaskClub upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Stifel Nicolaus increased their price target on shares of Martin Marietta Materials from $258.00 to $265.00 and gave the stock a “buy” rating in a research report on Wednesday, May 3rd. Stephens increased their price target on shares of Martin Marietta Materials from $246.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 4th. Finally, Jefferies Group LLC set a $166.00 price target on shares of Martin Marietta Materials and gave the stock a “hold” rating in a research report on Monday, August 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $220.57.

In other news, Director John J. Koraleski acquired 500 shares of the company’s stock in a transaction on Friday, August 18th. The stock was bought at an average cost 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 of the company’s stock, valued at $285,454.43. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 8.45% of the stock is owned by insiders.

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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