First Republic Investment Management Inc. grew its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 26.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,605 shares of the construction company’s stock after purchasing an additional 543 shares during the period. First Republic Investment Management Inc.’s holdings in Martin Marietta Materials were worth $582,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. State of Wisconsin Investment Board lifted its holdings in shares of Martin Marietta Materials by 5.2% in the 2nd quarter. State of Wisconsin Investment Board now owns 60,806 shares of the construction company’s stock valued at $13,580,000 after buying an additional 3,033 shares during the period. Chartwell Investment Partners LLC acquired a new position in shares of Martin Marietta Materials in the 2nd quarter valued at about $1,539,000. Steginsky Capital LLC lifted its holdings in shares of Martin Marietta Materials by 21.6% in the 1st quarter. Steginsky Capital LLC now owns 46,443 shares of the construction company’s stock valued at $9,628,000 after buying an additional 8,259 shares during the period. Mitchell Capital Management Co. lifted its holdings in shares of Martin Marietta Materials by 24.5% in the 2nd quarter. Mitchell Capital Management Co. now owns 34,848 shares of the construction company’s stock valued at $7,783,000 after buying an additional 6,861 shares during the period. Finally, GWM Advisors LLC acquired a new position in shares of Martin Marietta Materials in the 1st quarter valued at about $249,000.

Several brokerages have recently issued reports on MLM. ValuEngine cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Saturday, July 28th. Zacks Investment Research raised Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $258.00 price objective for the company in a report on Thursday, June 14th. Citigroup decreased their price objective on Martin Marietta Materials from $262.00 to $250.00 and set a “buy” rating for the company in a report on Monday, July 30th. Barclays set a $232.00 price objective on Martin Marietta Materials and gave the company a “hold” rating in a report on Thursday, May 31st. Finally, Bank of America decreased their price objective on Martin Marietta Materials to $247.00 and set a “buy” rating for the company in a report on Wednesday, July 25th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $241.22.

In other Martin Marietta Materials news, Director Stephen P. Zelnak, Jr. purchased 3,500 shares of Martin Marietta Materials stock in a transaction that occurred on Monday, July 30th. The stock was bought at an average price of $202.87 per share, with a total value of $710,045.00. Following the acquisition, the director now owns 21,880 shares of the company’s stock, valued at approximately $4,438,795.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Donald A. Mccunniff sold 2,250 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $204.33, for a total value of $459,742.50. Following the completion of the transaction, the senior vice president now directly owns 12,649 shares of the company’s stock, valued at approximately $2,584,570.17. The disclosure for this sale can be found here. Corporate insiders own 0.75% of the company’s stock.

NYSE MLM opened at $192.18 on Monday. The stock has a market capitalization of $12.11 billion, a P/E ratio of 26.77, a price-to-earnings-growth ratio of 1.43 and a beta of 1.06. Martin Marietta Materials, Inc. has a twelve month low of $188.34 and a twelve month high of $241.33. The company has a quick ratio of 1.14, a current ratio of 2.05 and a debt-to-equity ratio of 0.60.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Thursday, July 26th. The construction company reported $3.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.45. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Martin Marietta Materials had a return on equity of 10.52% and a net margin of 17.82%. Martin Marietta Materials’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.27 EPS. equities research analysts expect that Martin Marietta Materials, Inc. will post 9.44 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Tuesday, September 4th will be issued a $0.48 dividend. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Friday, August 31st. This represents a $1.92 dividend on an annualized basis and a yield of 1.00%. Martin Marietta Materials’s dividend payout ratio is presently 26.74%.

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 provides crushed stone, sand, and gravel products; ready mixed concrete, and asphalt and paving products; and 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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Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

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