Northern Trust Corp Boosts Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Northern Trust Corp lifted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 1.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 722,303 shares of the construction company’s stock after purchasing an additional 8,104 shares during the quarter. Northern Trust Corp owned 1.16% of Martin Marietta Materials worth $166,210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP grew its holdings in Martin Marietta Materials by 8.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 592,626 shares of the construction company’s stock valued at $101,838,000 after purchasing an additional 45,693 shares during the period. Geode Capital Management LLC boosted its stake in shares of Martin Marietta Materials by 7.7% in the fourth quarter. Geode Capital Management LLC now owns 778,969 shares of the construction company’s stock worth $133,637,000 after acquiring an additional 55,593 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Martin Marietta Materials by 73.9% in the first quarter. Janus Henderson Group PLC now owns 25,865 shares of the construction company’s stock worth $5,203,000 after acquiring an additional 10,993 shares during the period. Sigma Planning Corp bought a new position in shares of Martin Marietta Materials in the first quarter worth about $327,000. Finally, State Board of Administration of Florida Retirement System boosted its stake in shares of Martin Marietta Materials by 1.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 74,949 shares of the construction company’s stock worth $15,078,000 after acquiring an additional 880 shares during the period.

MLM stock traded up $2.91 during midday trading on Thursday, reaching $261.37. 18,643 shares of the company traded hands, compared to its average volume of 627,461. Martin Marietta Materials, Inc. has a 52-week low of $150.75 and a 52-week high of $264.39. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.08 and a current ratio of 1.86. The business has a 50 day moving average of $248.77 and a 200-day moving average of $221.83. The firm has a market capitalization of $15.93 billion, a price-to-earnings ratio of 32.30, a P/E/G ratio of 2.37 and a beta of 1.11.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Tuesday, July 30th. The construction company reported $3.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.08 by ($0.07). Martin Marietta Materials had a net margin of 11.37% and a return on equity of 10.35%. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter last year, the company earned $3.25 earnings per share. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. Research analysts anticipate that Martin Marietta Materials, Inc. will post 9.35 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, August 30th. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.48. This represents a $2.20 dividend on an annualized basis and a yield of 0.84%. Martin Marietta Materials’s dividend payout ratio is 27.19%.

In other news, EVP Roselyn R. Bar sold 2,821 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $246.93, for a total value of $696,589.53. Following the sale, the executive vice president now directly owns 57,149 shares in the company, valued at $14,111,802.57. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO C Howard Nye sold 7,440 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $253.52, for a total value of $1,886,188.80. Following the completion of the sale, the chief executive officer now owns 154,544 shares in the company, valued at $39,179,994.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,485 shares of company stock worth $5,317,618. Company insiders own 0.73% of the company’s stock.

MLM has been the subject of a number of research reports. DA Davidson raised Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $227.22 price target for the company in a research note on Thursday, June 6th. JPMorgan Chase & Co. increased their price target on Martin Marietta Materials from $265.00 to $285.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. ValuEngine raised Martin Marietta Materials from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Longbow Research set a $265.00 price target on Martin Marietta Materials and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, Jefferies Financial Group increased their price target on Martin Marietta Materials from $265.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $230.66.

Martin Marietta Materials Company 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 offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; 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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