Griffin Asset Management Inc. Has $381,000 Holdings in Martin Marietta Materials, Inc. (MLM)
Griffin Asset Management Inc. raised its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 55.8% during the first quarter, Holdings Channel reports. The institutional investor owned 1,892 shares of the construction company’s stock after buying an additional 678 shares during the period. Griffin Asset Management Inc.’s holdings in Martin Marietta Materials were worth $381,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in MLM. Norges Bank acquired a new stake in Martin Marietta Materials during the 4th quarter valued at $97,355,000. Pactiv General Employee Benefit Trust purchased a new position in shares of Martin Marietta Materials during the 4th quarter worth $53,532,000. Bank of America Corp DE lifted its stake in shares of Martin Marietta Materials by 46.4% during the 4th quarter. Bank of America Corp DE now owns 531,590 shares of the construction company’s stock worth $91,365,000 after purchasing an additional 168,379 shares during the period. Strs Ohio lifted its stake in shares of Martin Marietta Materials by 392.1% during the 1st quarter. Strs Ohio now owns 163,195 shares of the construction company’s stock worth $32,831,000 after purchasing an additional 130,033 shares during the period. Finally, Douglass Winthrop Advisors LLC lifted its stake in shares of Martin Marietta Materials by 31.8% during the 1st quarter. Douglass Winthrop Advisors LLC now owns 282,250 shares of the construction company’s stock worth $56,783,000 after purchasing an additional 68,026 shares during the period.
Shares of MLM opened at $220.32 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.96 and a current ratio of 1.81. The firm has a market capitalization of $13.79 billion, a P/E ratio of 27.23, a PEG ratio of 2.14 and a beta of 1.15. Martin Marietta Materials, Inc. has a twelve month low of $150.75 and a twelve month high of $232.88.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Friday, May 31st. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 23.73%.
In related news, Director Sue W. Cole sold 1,500 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $195.07, for a total value of $292,605.00. Following the transaction, the director now directly owns 20,933 shares of the company’s stock, valued at approximately $4,083,400.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Donald A. Mccunniff sold 660 shares of the stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $190.90, for a total value of $125,994.00. Following the completion of the transaction, the senior vice president now directly owns 15,349 shares in the company, valued at $2,930,124.10. The disclosure for this sale can be found here. Insiders sold a total of 20,011 shares of company stock worth $4,353,464 over the last ninety days. Corporate insiders own 0.73% of the company’s stock.
MLM has been the topic of a number of recent analyst reports. Jefferies Financial Group reissued a “buy” rating and set a $232.00 price target on shares of Martin Marietta Materials in a research note on Tuesday, January 29th. Zacks Investment Research lowered Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Friday, February 15th. Stephens raised Martin Marietta Materials from an “equal” rating to an “overweight” rating in a research note on Friday, February 15th. Citigroup set a $211.00 price target on Martin Marietta Materials and gave the stock a “buy” rating in a research note on Thursday, February 14th. Finally, Berenberg Bank initiated coverage on Martin Marietta Materials in a research note on Wednesday, April 3rd. They set a “hold” rating and a $194.00 price target on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. Martin Marietta Materials presently has a consensus rating of “Buy” and an average price target of $219.93.
Martin Marietta Materials Company Profile
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 offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; 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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