Franklin Resources Inc. Decreases Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Franklin Resources Inc. decreased its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLMGet Rating) by 0.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 355,755 shares of the construction company’s stock after selling 2,434 shares during the quarter. Franklin Resources Inc.’s holdings in Martin Marietta Materials were worth $106,456,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MLM. JPMorgan Chase & Co. lifted its stake in Martin Marietta Materials by 59.6% during the first quarter. JPMorgan Chase & Co. now owns 1,978,299 shares of the construction company’s stock worth $761,428,000 after purchasing an additional 739,005 shares during the last quarter. Select Equity Group L.P. lifted its stake in Martin Marietta Materials by 8.9% during the first quarter. Select Equity Group L.P. now owns 3,816,405 shares of the construction company’s stock worth $1,468,896,000 after purchasing an additional 310,451 shares during the last quarter. Mawer Investment Management Ltd. purchased a new stake in Martin Marietta Materials in the first quarter valued at approximately $56,827,000. Ceredex Value Advisors LLC lifted its stake in Martin Marietta Materials by 35.5% in the second quarter. Ceredex Value Advisors LLC now owns 409,625 shares of the construction company’s stock valued at $122,577,000 after buying an additional 107,250 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Martin Marietta Materials by 1.6% in the first quarter. Vanguard Group Inc. now owns 6,850,912 shares of the construction company’s stock valued at $2,636,848,000 after buying an additional 105,535 shares during the last quarter. Hedge funds and other institutional investors own 93.51% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Citigroup reduced their price objective on Martin Marietta Materials from $410.00 to $386.00 and set a “buy” rating for the company in a research note on Monday, October 10th. BNP Paribas upgraded Martin Marietta Materials from a “neutral” rating to an “outperform” rating and set a $407.00 price objective for the company in a research note on Tuesday, September 20th. JPMorgan Chase & Co. boosted their price objective on Martin Marietta Materials from $370.00 to $410.00 and gave the company an “overweight” rating in a research note on Thursday, September 22nd. Morgan Stanley reduced their price objective on Martin Marietta Materials from $420.00 to $409.00 and set an “overweight” rating for the company in a research note on Thursday, October 13th. Finally, Exane BNP Paribas upgraded Martin Marietta Materials from a “neutral” rating to an “outperform” rating in a research note on Tuesday, September 20th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $400.33.

Martin Marietta Materials Trading Up 0.2 %

Shares of MLM stock opened at $365.32 on Thursday. The business’s fifty day moving average price is $331.92 and its 200 day moving average price is $333.11. Martin Marietta Materials, Inc. has a 1-year low of $284.99 and a 1-year high of $446.46. The firm has a market capitalization of $22.68 billion, a PE ratio of 27.20, a P/E/G ratio of 1.99 and a beta of 0.85. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.01 and a quick ratio of 1.43.

Martin Marietta Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 1st will be issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend is Wednesday, November 30th. Martin Marietta Materials’s dividend payout ratio is presently 19.66%.

Martin Marietta Materials Company Profile

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Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; 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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