Royal London Asset Management Ltd. reduced its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 3.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,451 shares of the construction company’s stock after selling 958 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Martin Marietta Materials were worth $4,631,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. bought a new stake in shares of Martin Marietta Materials in the third quarter worth approximately $110,000. Flagship Harbor Advisors LLC bought a new stake in shares of Martin Marietta Materials in the second quarter worth approximately $128,000. Piedmont Investment Advisors LLC bought a new stake in shares of Martin Marietta Materials in the second quarter worth approximately $160,000. MERIAN GLOBAL INVESTORS UK Ltd bought a new stake in shares of Martin Marietta Materials in the third quarter worth approximately $181,000. Finally, NuWave Investment Management LLC grew its stake in shares of Martin Marietta Materials by 18,400.0% in the third quarter. NuWave Investment Management LLC now owns 1,110 shares of the construction company’s stock worth $202,000 after acquiring an additional 1,104 shares during the period.
MLM opened at $186.70 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.04 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $11.69 billion, a P/E ratio of 26.00, a price-to-earnings-growth ratio of 1.86 and a beta of 1.09. Martin Marietta Materials, Inc. has a 12-month low of $150.75 and a 12-month high of $241.33.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Monday, December 3rd will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Friday, November 30th. Martin Marietta Materials’s dividend payout ratio is currently 26.74%.
In other Martin Marietta Materials news, SVP Donald A. Mccunniff sold 1,476 shares of Martin Marietta Materials stock in a transaction that occurred on Friday, November 9th. The shares were sold at an average price of $185.50, for a total transaction of $273,798.00. Following the transaction, the senior vice president now owns 14,467 shares of the company’s stock, valued at $2,683,628.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.75% of the stock is owned by insiders.
A number of analysts have recently commented on the stock. Citigroup reduced their price target on shares of Martin Marietta Materials from $262.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, July 30th. Stephens set a $187.00 price target on shares of Martin Marietta Materials and gave the stock a “hold” rating in a research note on Wednesday, October 17th. ValuEngine lowered shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Saturday, July 28th. Stifel Nicolaus lifted their price target on shares of Martin Marietta Materials from $256.00 to $260.00 and gave the stock a “buy” rating in a research note on Friday, July 27th. Finally, Bank of America lowered shares of Martin Marietta Materials from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $225.00 to $179.00 in a research note on Wednesday, October 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $219.11.
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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 provides crushed stone, sand, and gravel products; ready mixed concrete, and asphalt and paving products; 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.
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