Rhumbline Advisers Has $33.48 Million Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Rhumbline Advisers boosted its position in Martin Marietta Materials, Inc. (NYSE:MLMGet Rating) by 12.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 111,869 shares of the construction company’s stock after buying an additional 11,976 shares during the period. Rhumbline Advisers owned approximately 0.18% of Martin Marietta Materials worth $33,476,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of MLM. JPMorgan Chase & Co. lifted its holdings in Martin Marietta Materials by 59.6% in the first quarter. JPMorgan Chase & Co. now owns 1,978,299 shares of the construction company’s stock valued at $761,428,000 after buying an additional 739,005 shares during the period. Select Equity Group L.P. lifted its holdings in Martin Marietta Materials by 8.9% in the first quarter. Select Equity Group L.P. now owns 3,816,405 shares of the construction company’s stock valued at $1,468,896,000 after buying an additional 310,451 shares during the period. Mawer Investment Management Ltd. acquired a new position in Martin Marietta Materials in the first quarter valued at $56,827,000. Ceredex Value Advisors LLC lifted its holdings 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 period. Finally, Vanguard Group Inc. lifted its holdings 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 period. Institutional investors and hedge funds own 93.51% of the company’s stock.

Martin Marietta Materials Trading Up 0.2 %

MLM opened at $365.32 on Thursday. Martin Marietta Materials, Inc. has a fifty-two week low of $284.99 and a fifty-two week high of $446.46. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.01 and a quick ratio of 1.43. The company’s 50-day moving average is $331.92 and its 200 day moving average is $333.11. 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.

Martin Marietta Materials Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. StockNews.com assumed coverage on shares of Martin Marietta Materials in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Raymond James dropped their price objective on shares of Martin Marietta Materials from $410.00 to $380.00 in a report on Sunday, November 6th. Morgan Stanley dropped their price objective on shares of Martin Marietta Materials from $420.00 to $409.00 and set an “overweight” rating on the stock in a report on Thursday, October 13th. Citigroup dropped their price objective on shares of Martin Marietta Materials from $410.00 to $386.00 and set a “buy” rating on the stock in a report on Monday, October 10th. Finally, TheStreet upgraded shares of Martin Marietta Materials from a “c+” rating to a “b-” rating in a report on Wednesday, August 10th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Martin Marietta Materials currently has an average rating of “Moderate Buy” and an average price target of $400.33.

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.

See Also

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

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