Pictet Asset Management Ltd. Has $6.61 Million Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)
Pictet Asset Management Ltd. lifted its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 2.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 24,130 shares of the construction company’s stock after buying an additional 500 shares during the period. Pictet Asset Management Ltd.’s holdings in Martin Marietta Materials were worth $6,614,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of MLM. CWM LLC lifted its holdings in shares of Martin Marietta Materials by 13.2% during the 3rd quarter. CWM LLC now owns 351 shares of the construction company’s stock valued at $96,000 after purchasing an additional 41 shares in the last quarter. Commonwealth Bank of Australia grew its position in shares of Martin Marietta Materials by 28.1% in the 2nd quarter. Commonwealth Bank of Australia now owns 196 shares of the construction company’s stock valued at $43,000 after purchasing an additional 43 shares during the period. D.A. Davidson & CO. increased its stake in Martin Marietta Materials by 0.7% during the 2nd quarter. D.A. Davidson & CO. now owns 6,563 shares of the construction company’s stock worth $1,510,000 after purchasing an additional 44 shares in the last quarter. Brasada Capital Management LP raised its holdings in Martin Marietta Materials by 2.0% during the 3rd quarter. Brasada Capital Management LP now owns 2,376 shares of the construction company’s stock worth $651,000 after buying an additional 47 shares during the period. Finally, Hartford Investment Management Co. raised its holdings in Martin Marietta Materials by 0.8% during the 2nd quarter. Hartford Investment Management Co. now owns 6,851 shares of the construction company’s stock worth $1,576,000 after buying an additional 53 shares during the period. 99.07% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director John J. Koraleski purchased 1,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was purchased at an average cost of $260.23 per share, for a total transaction of $260,230.00. Following the completion of the purchase, the director now directly owns 3,250 shares in the company, valued at $845,747.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.73% of the stock is owned by company insiders.
Shares of MLM stock opened at $270.65 on Wednesday. The firm’s fifty day moving average price is $263.80 and its two-hundred day moving average price is $246.33. The company has a current ratio of 2.29, a quick ratio of 1.35 and a debt-to-equity ratio of 0.60. Martin Marietta Materials, Inc. has a 1 year low of $160.60 and a 1 year high of $275.99. The firm has a market capitalization of $16.78 billion, a P/E ratio of 33.45, a PEG ratio of 2.42 and a beta of 1.12.
Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Tuesday, October 29th. The construction company reported $3.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.50 by $0.46. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Martin Marietta Materials had a return on equity of 11.52% and a net margin of 12.35%. Martin Marietta Materials’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.85 EPS. As a group, equities research analysts forecast that Martin Marietta Materials, Inc. will post 9.91 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.20 annualized dividend and a yield of 0.81%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 27.19%.
Martin Marietta Materials 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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