Bank of New York Mellon Corp Has $153.82 Million Holdings in Martin Marietta Materials, Inc. (MLM)
Bank of New York Mellon Corp lessened its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 12.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 745,864 shares of the construction company’s stock after selling 108,362 shares during the period. Bank of New York Mellon Corp owned about 1.19% of Martin Marietta Materials worth $153,818,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the stock. Massey Quick Simon & CO. LLC bought a new stake in shares of Martin Marietta Materials during the 3rd quarter valued at about $152,000. Teacher Retirement System of Texas boosted its position in shares of Martin Marietta Materials by 33.9% during the 3rd quarter. Teacher Retirement System of Texas now owns 36,757 shares of the construction company’s stock valued at $7,580,000 after purchasing an additional 9,304 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Martin Marietta Materials by 0.3% during the 3rd quarter. Rhumbline Advisers now owns 130,162 shares of the construction company’s stock valued at $26,843,000 after purchasing an additional 402 shares in the last quarter. Toronto Dominion Bank boosted its holdings in Martin Marietta Materials by 12.3% in the third quarter. Toronto Dominion Bank now owns 23,828 shares of the construction company’s stock worth $4,914,000 after acquiring an additional 2,605 shares in the last quarter. Finally, CI Investments Inc. bought a new position in Martin Marietta Materials in the third quarter worth approximately $54,546,000. Institutional investors own 94.12% of the company’s stock.
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Several research analysts have issued reports on MLM shares. Zacks Investment Research lowered Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Friday, July 28th. BidaskClub lowered Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Jefferies Group LLC set a $166.00 price target on Martin Marietta Materials and gave the stock a “hold” rating in a report on Monday, August 21st. Citigroup Inc. reiterated a “buy” rating and issued a $260.00 price target (down previously from $270.00) on shares of Martin Marietta Materials in a report on Monday, October 9th. Finally, Bank of America Corporation cut their price target on Martin Marietta Materials from $233.00 to $229.00 and set a “neutral” rating on the stock in a report on Thursday, October 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $242.43.
Shares of Martin Marietta Materials, Inc. (NYSE MLM) opened at $208.74 on Tuesday. The company has a market capitalization of $13,120.00, a P/E ratio of 30.28, a PEG ratio of 2.17 and a beta of 1.14. Martin Marietta Materials, Inc. has a 52 week low of $191.09 and a 52 week high of $244.32. The company has a quick ratio of 1.50, a current ratio of 2.73 and a debt-to-equity ratio of 0.38.
Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Thursday, November 2nd. The construction company reported $2.39 EPS for the quarter, missing the consensus estimate of $2.45 by ($0.06). The company had revenue of $1.02 million during the quarter, compared to analysts’ expectations of $1.07 billion. Martin Marietta Materials had a return on equity of 10.39% and a net margin of 11.03%. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the company earned $2.49 earnings per share. equities research analysts predict that Martin Marietta Materials, Inc. will post 6.92 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 0.84%. The ex-dividend date is Thursday, November 30th. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 25.66%.
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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