Dimensional Fund Advisors LP reduced its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 1.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 396,188 shares of the construction company’s stock after selling 6,796 shares during the period. Dimensional Fund Advisors LP’s holdings in Martin Marietta Materials were worth $86,437,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Martin Marietta Materials by 3.3% in the first quarter. Vanguard Group Inc. now owns 6,229,398 shares of the construction company’s stock valued at $1,359,565,000 after buying an additional 198,069 shares during the last quarter. Principal Financial Group Inc. increased 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 during the last quarter. Iridian Asset Management LLC CT increased 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 during the last quarter. TimesSquare Capital Management LLC increased its stake in Martin Marietta Materials by 26.7% in the first quarter. TimesSquare Capital Management LLC now owns 703,550 shares of the construction company’s stock valued at $153,550,000 after buying an additional 148,365 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Martin Marietta Materials by 8.5% in the first quarter. Geode Capital Management LLC now owns 595,589 shares of the construction company’s stock valued at $129,800,000 after buying an additional 46,901 shares during the last quarter. 97.23% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials, Inc. (NYSE MLM) opened at 232.23 on Tuesday. The firm’s 50-day moving average price is $231.16 and its 200 day moving average price is $223.50. 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 capitalization of $14.58 billion, a PE ratio of 35.05 and a beta of 1.21.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Tuesday, May 2nd. The construction company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.05. Martin Marietta Materials had a return on equity of 10.32% and a net margin of 10.91%. The firm had revenue of $791.70 million for the quarter, compared to analysts’ expectations of $729.28 million. During the same period in the prior year, the firm posted $0.69 earnings per share. The company’s quarterly revenue was up 7.9% on a year-over-year basis. Equities research analysts expect that Martin Marietta Materials, Inc. will post $7.14 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 1st will be paid a $0.42 dividend. The ex-dividend date is Tuesday, May 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.72%. Martin Marietta Materials’s dividend payout ratio is currently 25.42%.

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MLM has been the subject of several research reports. Citigroup Inc. initiated coverage on shares of Martin Marietta Materials in a research report on Wednesday, March 29th. They issued a “buy” rating and a $245.00 price target for the company. Stifel Nicolaus lifted their price target on shares of Martin Marietta Materials from $258.00 to $265.00 and gave the company a “buy” rating in a research report on Wednesday, May 3rd. Cleveland Research raised shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating in a research report on Friday, March 31st. Zacks Investment Research raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Tuesday, April 18th. Finally, Stephens lifted their price target on shares of Martin Marietta Materials from $246.00 to $250.00 and gave the company an “equal weight” rating in a research report on Thursday, May 4th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $229.29.

In other news, Chairman C Howard Nye sold 10,258 shares of the stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $239.16, for a total value of $2,453,303.28. Following the sale, the chairman now directly owns 143,038 shares of the company’s stock, valued at $34,208,968.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Anne H. Lloyd sold 6,472 shares of the company’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $238.73, for a total value of $1,545,060.56. Following the transaction, the chief financial officer now directly owns 69,941 shares in the company, valued at $16,697,014.93. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,121 shares of company stock worth $4,332,440. Insiders own 1.06% of the company’s stock.

About Martin Marietta Materials

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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