Private Advisor Group LLC acquired a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,030 shares of the construction company’s stock, valued at approximately $229,000.

A number of other hedge funds also recently added to or reduced their stakes in MLM. Wells Fargo & Company MN increased its stake in Martin Marietta Materials by 8.3% in the 1st quarter. Wells Fargo & Company MN now owns 216,400 shares of the construction company’s stock worth $44,860,000 after acquiring an additional 16,575 shares during the last quarter. Mackay Shields LLC bought a new position in Martin Marietta Materials in the 1st quarter worth about $2,193,000. Victory Capital Management Inc. increased its stake in Martin Marietta Materials by 14.9% in the 1st quarter. Victory Capital Management Inc. now owns 23,829 shares of the construction company’s stock worth $4,940,000 after acquiring an additional 3,086 shares during the last quarter. State of Wisconsin Investment Board increased its stake in Martin Marietta Materials by 17.1% in the 1st quarter. State of Wisconsin Investment Board now owns 57,773 shares of the construction company’s stock worth $11,976,000 after acquiring an additional 8,432 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in Martin Marietta Materials by 4.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 229,654 shares of the construction company’s stock worth $47,608,000 after acquiring an additional 9,407 shares during the last quarter.

Shares of NYSE MLM opened at $193.13 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.14 and a current ratio of 2.05. The stock has a market capitalization of $12.10 billion, a price-to-earnings ratio of 25.00, 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.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Thursday, July 26th. The construction company reported $3.25 EPS for the quarter, beating the consensus estimate of $2.80 by $0.45. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.21 billion. Martin Marietta Materials had a return on equity of 10.52% and a net margin of 17.82%. The company’s revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.27 EPS. research analysts forecast that Martin Marietta Materials, Inc. will post 9.44 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Tuesday, September 4th will be given a dividend of $0.48 per share. The ex-dividend date is Friday, August 31st. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.44. This represents a $1.92 annualized dividend and a dividend yield of 0.99%. Martin Marietta Materials’s dividend payout ratio is 26.74%.

MLM has been the topic of a number of research analyst reports. Barclays set a $232.00 target price on Martin Marietta Materials and gave the stock a “hold” rating in a research note on Thursday, May 31st. Zacks Investment Research upgraded Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $258.00 target price on the stock in a research note on Thursday, June 14th. Bank of America decreased their target price on Martin Marietta Materials to $247.00 and set a “buy” rating on the stock in a research note on Wednesday, July 25th. Stifel Nicolaus upped their target price on Martin Marietta Materials from $256.00 to $260.00 and gave the stock a “buy” rating in a research note on Friday, July 27th. Finally, ValuEngine lowered Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Saturday, July 28th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $241.22.

In other news, Director Stephen P. Zelnak, Jr. acquired 3,500 shares of Martin Marietta Materials stock in a transaction dated Monday, July 30th. The shares were purchased at an average cost of $202.87 per share, for a total transaction of $710,045.00. Following the transaction, the director now owns 21,880 shares of the company’s stock, valued at $4,438,795.60. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John J. Koraleski acquired 2,400 shares of Martin Marietta Materials stock in a transaction dated Friday, July 27th. The shares were purchased at an average price of $208.06 per share, for a total transaction of $499,344.00. Following the completion of the transaction, the director now directly owns 4,750 shares in the company, valued at approximately $988,285. The disclosure for this purchase can be found here. 0.75% of the stock is currently owned by corporate insiders.

Martin Marietta Materials 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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