Scott & Selber Inc. acquired a new position in Martin Marietta Materials, Inc. (NYSE:MLM) during the second quarter, according to its most recent filing with the SEC. The firm acquired 8,426 shares of the construction company’s stock, valued at approximately $1,875,000.

Other hedge funds have also added to or reduced their stakes in the company. First Personal Financial Services increased its stake in shares of Martin Marietta Materials by 4.5% in the first quarter. First Personal Financial Services now owns 513 shares of the construction company’s stock worth $112,000 after buying an additional 22 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of Martin Marietta Materials by 130.9% in the second quarter. Robeco Institutional Asset Management B.V. now owns 538 shares of the construction company’s stock worth $120,000 after buying an additional 305 shares during the period. Dupont Capital Management Corp purchased a new stake in shares of Martin Marietta Materials during the second quarter worth about $128,000. Northwest Investment Counselors LLC purchased a new stake in shares of Martin Marietta Materials during the second quarter worth about $134,000. Finally, FNY Partners Fund LP purchased a new stake in shares of Martin Marietta Materials during the first quarter worth about $174,000. Hedge funds and other institutional investors own 95.79% of the company’s stock.

Martin Marietta Materials, Inc. (NYSE:MLM) opened at 198.69 on Tuesday. The stock has a market capitalization of $12.49 billion, a P/E ratio of 28.59 and a beta of 1.14. Martin Marietta Materials, Inc. has a 12-month low of $167.06 and a 12-month high of $244.32. The firm’s 50-day moving average is $215.04 and its 200 day moving average is $220.57.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Tuesday, August 1st. The construction company reported $2.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.38 by $0.13. The business had revenue of $996.30 million during the quarter, compared to the consensus estimate of $1.01 billion. Martin Marietta Materials had a return on equity of 10.69% and a net margin of 11.19%. The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.90 earnings per share. Equities analysts expect that Martin Marietta Materials, Inc. will post $7.14 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Tuesday, September 5th will be given a $0.44 dividend. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a yield of 0.88%. The ex-dividend date is Thursday, August 31st. Martin Marietta Materials’s payout ratio is currently 24.14%.

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MLM has been the topic of a number of recent analyst reports. Jefferies Group LLC set a $166.00 price target on shares of Martin Marietta Materials and gave the stock a “hold” rating in a report on Monday, August 21st. Zacks Investment Research downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Friday, July 28th. BidaskClub downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Stifel Nicolaus increased their price target on shares of Martin Marietta Materials from $258.00 to $265.00 and gave the stock a “buy” rating in a report on Wednesday, May 3rd. Finally, Stephens increased their price target on shares of Martin Marietta Materials from $246.00 to $250.00 and gave the stock an “equal weight” rating in a report on Thursday, May 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $220.57.

In other Martin Marietta Materials news, Director John J. Koraleski purchased 500 shares of the company’s stock in a transaction on Friday, August 18th. The shares were bought at an average cost of $198.37 per share, with a total value of $99,185.00. Following the transaction, the director now directly owns 1,439 shares in the company, valued at approximately $285,454.43. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 8.45% of the company’s stock.

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.

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

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