Zurich Insurance Group Ltd FI Reduces Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Zurich Insurance Group Ltd FI reduced its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 65.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 28,127 shares of the construction company’s stock after selling 53,755 shares during the period. Zurich Insurance Group Ltd FI’s holdings in Martin Marietta Materials were worth $6,472,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Geode Capital Management LLC increased its position in Martin Marietta Materials by 7.7% during the 4th quarter. Geode Capital Management LLC now owns 778,969 shares of the construction company’s stock worth $133,637,000 after purchasing an additional 55,593 shares in the last quarter. Mason Street Advisors LLC lifted its position in Martin Marietta Materials by 0.7% during the 1st quarter. Mason Street Advisors LLC now owns 8,907 shares of the construction company’s stock worth $1,792,000 after acquiring an additional 66 shares in the last quarter. ETF Managers Group LLC lifted its position in Martin Marietta Materials by 10.5% during the 1st quarter. ETF Managers Group LLC now owns 692 shares of the construction company’s stock worth $139,000 after acquiring an additional 66 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in Martin Marietta Materials by 2.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 40,274 shares of the construction company’s stock worth $8,084,000 after acquiring an additional 1,151 shares in the last quarter. Finally, Piedmont Investment Advisors Inc. lifted its position in Martin Marietta Materials by 2.2% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 5,208 shares of the construction company’s stock worth $1,048,000 after acquiring an additional 111 shares in the last quarter.

Several equities analysts recently commented on MLM shares. Jefferies Financial Group boosted their price target on Martin Marietta Materials from $265.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price target on Martin Marietta Materials from $265.00 to $285.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. DA Davidson raised Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $227.22 price target on the stock in a research report on Thursday, June 6th. Longbow Research set a $265.00 price target on Martin Marietta Materials and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, ValuEngine raised Martin Marietta Materials from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. One research 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. The company currently has an average rating of “Buy” and a consensus target price of $230.66.

MLM stock traded down $2.28 during midday trading on Friday, hitting $266.41. 736,999 shares of the company’s stock were exchanged, compared to its average volume of 469,701. The company has a current ratio of 1.86, a quick ratio of 1.08 and a debt-to-equity ratio of 0.62. Martin Marietta Materials, Inc. has a 12-month low of $150.75 and a 12-month high of $271.49. The firm has a 50 day moving average price of $254.46 and a 200-day moving average price of $224.83. The stock has a market capitalization of $16.78 billion, a price-to-earnings ratio of 32.93, a price-to-earnings-growth ratio of 2.51 and a beta of 1.11.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Tuesday, July 30th. The construction company reported $3.01 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the firm posted $3.25 earnings per share. Martin Marietta Materials’s revenue was up 6.4% compared to the same quarter last year. On average, sell-side analysts forecast that Martin Marietta Materials, Inc. will post 9.38 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.83%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, August 30th. Martin Marietta Materials’s payout ratio is 27.19%.

In other news, EVP Roselyn R. Bar sold 2,821 shares of the business’s 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 completion of the sale, the executive vice president now directly owns 57,149 shares in the company, valued at approximately $14,111,802.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman C Howard Nye sold 11,224 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $243.66, for a total value of $2,734,839.84. Following the completion of the sale, the chairman now owns 158,885 shares of the company’s stock, valued at $38,713,919.10. The disclosure for this sale can be found here. Insiders sold a total of 21,485 shares of company stock valued at $5,317,618 over the last quarter. Company insiders own 0.73% of the company’s stock.

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 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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