TIAA CREF Investment Management LLC Reduces Position in Martin Marietta Materials (MLM)

TIAA CREF Investment Management LLC decreased its stake in Martin Marietta Materials (NYSE:MLM) by 6.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,183 shares of the construction company’s stock after selling 6,446 shares during the period. TIAA CREF Investment Management LLC owned about 0.14% of Martin Marietta Materials worth $19,713,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the stock. First Republic Investment Management Inc. lifted its stake in Martin Marietta Materials by 12.8% in the 4th quarter. First Republic Investment Management Inc. now owns 2,139 shares of the construction company’s stock valued at $473,000 after purchasing an additional 242 shares during the last quarter. Kornitzer Capital Management Inc. KS increased its position in Martin Marietta Materials by 5.1% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 5,380 shares of the construction company’s stock valued at $1,189,000 after acquiring an additional 260 shares during the period. Cetera Advisors LLC increased its position in Martin Marietta Materials by 26.5% in the 4th quarter. Cetera Advisors LLC now owns 1,342 shares of the construction company’s stock valued at $295,000 after acquiring an additional 281 shares during the period. Commerzbank Aktiengesellschaft FI increased its position in Martin Marietta Materials by 27.8% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 1,358 shares of the construction company’s stock valued at $300,000 after acquiring an additional 295 shares during the period. Finally, Valeo Financial Advisors LLC increased its position in Martin Marietta Materials by 149.0% in the 4th quarter. Valeo Financial Advisors LLC now owns 523 shares of the construction company’s stock valued at $116,000 after acquiring an additional 313 shares during the period. 99.97% of the stock is owned by institutional investors and hedge funds.

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In other news, Director Sue W. Cole sold 3,000 shares of the stock in a transaction on Monday, March 12th. The shares were sold at an average price of $210.06, for a total transaction of $630,180.00. Following the completion of the sale, the director now directly owns 24,145 shares in the company, valued at $5,071,898.70. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 8.45% of the company’s stock.

NYSE:MLM opened at $207.30 on Friday. Martin Marietta Materials has a twelve month low of $191.09 and a twelve month high of $244.32. The company has a quick ratio of 2.93, a current ratio of 3.79 and a debt-to-equity ratio of 0.58. The firm has a market cap of $13,019.06, a PE ratio of 28.83, a PEG ratio of 2.98 and a beta of 1.17.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Tuesday, February 13th. The construction company reported $1.88 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.42 by $0.46. Martin Marietta Materials had a net margin of 17.99% and a return on equity of 10.55%. The company had revenue of $911.30 million during the quarter, compared to analysts’ expectations of $924.30 million. During the same period in the prior year, the company posted $1.55 earnings per share. Martin Marietta Materials’s revenue for the quarter was up 2.5% compared to the same quarter last year. research analysts anticipate that Martin Marietta Materials will post 8.62 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Monday, March 5th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 0.85%. The ex-dividend date was Friday, March 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 24.51%.

MLM has been the subject of several recent research reports. Barclays initiated coverage on shares of Martin Marietta Materials in a research report on Tuesday, December 12th. They issued an “equal weight” rating and a $227.00 price target for the company. Stephens restated a “hold” rating and issued a $250.00 price target on shares of Martin Marietta Materials in a research report on Wednesday, January 3rd. Zacks Investment Research upgraded shares of Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research report on Friday, January 19th. Citigroup upped their price target on shares of Martin Marietta Materials from $245.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Finally, SunTrust Banks restated a “buy” rating and issued a $245.00 price target on shares of Martin Marietta Materials in a research report on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $243.25.

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Martin Marietta Materials Profile

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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