Eagle Asset Management Inc. cut its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 1.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 555,240 shares of the construction company’s stock after selling 5,659 shares during the period. Martin Marietta Materials makes up 0.7% of Eagle Asset Management Inc.’s investment portfolio, making the stock its 23rd largest position. Eagle Asset Management Inc. owned about 0.88% of Martin Marietta Materials worth $113,818,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Great West Life Assurance Co. Can boosted its position in shares of Martin Marietta Materials by 3.1% in the third quarter. Great West Life Assurance Co. Can now owns 45,422 shares of the construction company’s stock worth $9,300,000 after acquiring an additional 1,349 shares during the last quarter. Tdam USA Inc. raised its holdings in Martin Marietta Materials by 10.5% in the third quarter. Tdam USA Inc. now owns 37,844 shares of the construction company’s stock valued at $7,804,000 after buying an additional 3,608 shares during the period. TD Asset Management Inc. raised its holdings in Martin Marietta Materials by 9.2% in the third quarter. TD Asset Management Inc. now owns 318,960 shares of the construction company’s stock valued at $65,779,000 after buying an additional 26,825 shares during the period. Tahithromos L.L.C. purchased a new position in Martin Marietta Materials in the third quarter valued at approximately $825,000. Finally, Davidson Investment Advisors raised its holdings in Martin Marietta Materials by 18.7% in the third quarter. Davidson Investment Advisors now owns 23,789 shares of the construction company’s stock valued at $4,906,000 after buying an additional 3,745 shares during the period. 94.12% of the stock is currently owned by institutional investors and hedge funds.

Shares of Martin Marietta Materials, Inc. (NYSE MLM) opened at $205.90 on Friday. Martin Marietta Materials, Inc. has a 1 year low of $191.09 and a 1 year high of $244.32. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.50 and a current ratio of 2.73. The firm has a market cap of $12,940.00, a P/E ratio of 30.01, a PEG ratio of 2.15 and a beta of 1.14.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Thursday, November 2nd. The construction company reported $2.39 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($0.06). Martin Marietta Materials had a return on equity of 10.39% and a net margin of 11.03%. The company had revenue of $1.02 million for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the business posted $2.49 EPS. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. research analysts expect that Martin Marietta Materials, Inc. will post 6.92 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Thursday, November 30th. Martin Marietta Materials’s payout ratio is currently 25.66%.

MLM has been the topic of several research reports. Zacks Investment Research upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Monday, September 4th. Bank of America Corporation dropped their price objective on shares of Martin Marietta Materials from $233.00 to $229.00 and set a “neutral” rating on the stock in a research note on Thursday, October 19th. Jefferies Group LLC reiterated a “buy” rating and set a $240.00 price objective on shares of Martin Marietta Materials in a research note on Wednesday, October 11th. DA Davidson reiterated a “hold” rating and set a $225.00 price objective on shares of Martin Marietta Materials in a research note on Friday, November 3rd. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and set a $228.00 price objective on shares of Martin Marietta Materials in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. Martin Marietta Materials currently has a consensus rating of “Hold” and a consensus target price of $242.43.

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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.

Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

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